> Regulating cryptocurrencies now would be political suicide.
That seems like a stretch. Most people wouldn't care, and the institutions that own it haven't bet that heavily on it. It's a fear-of-missing-out trade for the most part.
That seems like a stretch. Most people wouldn't care, and the institutions that own it haven't bet that heavily on it. It's a fear-of-missing-out trade for the most part.
But a rich minority would. A rich, motivated group of single-issue activists is political white phosphorous. To say nothing of the fact that the main beneficiaries of such regulation would said minority. The disinterested majority doesn't have much downside if cryptocurrencies go to zero.
If they were rich before cryptocurrencies, they shouldn't care (unless they unwisely bet the farm on it); and if they're rich because of cryptocurrencies, no one else should care, because if cryptocurrencies crash, they wouldn't be rich anymore.