The government has always tried to regulate crypto.
They wanted the bear market to tank the crypto and it did.
But the bear did not feel strong enough to bring it all down.
Now, the government is concerned about crypto and how it will impact its money in the future.
Regulating crypto us tricky because the crypto has some useful features that the current monetary system can adopt, such as fast transactions and automation in the blockchain.
However, there are some features such as privacy issues and scamming people, that regulations may and may not be able to prevent at the time.
Crypto can be better to provide more people to access to bank-like services but it also attracts scammers to fish targets around.
Of course, banning crypto will prevent all possible innovations in the future.
What the government will do is quite interesting in the future.
Photo by Jan Antonin Kolar on Unsplash