I get little update emails from a crypto business. Generally, I find them informative.
In yesterday's email, though, they were celebrating the possibility of more legislation. They said, "The journey to getting effective legislation and regulation passed in the US has not been an easy one..."
They are complaining that the gov has been committing evil without the benefit of legislation so far, "...the Securities and Exchange Commission appearing to regulate through enforcement in recent years." OK, that's obviously wrong of them to do.
The solution is to get gov out of it, not to give them another doorway in.
Cheering this kind of development shows a lack of brains.
I love crypto. I'd like to see it go "to the moon". But not if this is what it takes.
The last thing crypto needs is "effective legislation and regulation". It needs liberty. Don't kill the good thing because you hallucinate a need for government oversight. Don't embrace a bad idea because you feel something worse might be inevitable otherwise. No compromise. Give me liberty or else.