Thanks for this. A really balanced analysis of things.

It makes one realize we could easily kill a crucial aspect of what crypto could become, and not even realize that was a crucial bit.

Still as crypto grows up, there is going to need to be some amount of regulation. getting this right is going to be some lucky magic.

I am actually surprised the USG seems to be lighter than I would expect, in allowing crypto to grow. It really does embody some level of loss of control. always hard for a gov to do.