The entire Government machinery is behind destroying Crypto- that's not surprising, just disappointing.

I don't see that as much these days but the early days of Crypto (early 2010s) were filled with a lot of hatred for Government/ Centralization/ Intermediaries. The Cyber Punk was real and the sense of rebel against all these centralized authorities were very high. It felt the biggest purpose behind crypto was decentralization of power and enabling peer to peer transactions/ interactions without a centralized body. Much of that feels gone now.

Point being, the hatred for Government/ Centralized bodies came across so strong in early days of Crypto that a lot of people said if Crypto ever become anything remotely meaningful, Government will not take a second to kill it. It feels like 10 years after, that narrative has come to life and playing on its full strength.

In the last 24-48 hours, we heard about new taxes on Bitcoin mining, possibly declaring Ethereum security, and shit-show with Crypto banks and more and more push for random senseless regulations. Some congressman has asked for stronger regulations, some are pushing for CBDC and so on. Gary uncle from SEC tweeted today that all he is doing is for protecting citizen/ investors and he thrashed Crypto entrepreneurs and their marketing on transparency...

All of this is expected but I do expect a lot more turbulence and wide swings. Hope the senses finally prevail and we see simplified sensible crypto world. Meanwhile, I am concerned.