U.S. Crypto Crackdown Sure Looks Like an Attempt to Kill a Promising Industry: CoinDesk Editorial

My reasons for disbelieving that there is coordinated ill-intent are twofold, one rooted in idealism and the other cynicism. First, this is the U.S., the land of opportunity and freedom. A deliberate attack against the economic freedom that crypto represents would run against this country’s values. Second, this is the U.S., the land of crumbling infrastructure. Our leadership can’t even muster the coordination necessary to repair the country’s bridges and railways. It is too depressing to imagine they might be more aligned on destroying the financial infrastructure of the future than maintaining the physical infrastructure of the present. Supporting the lack-of-coordination side of the argument is how the CFTC, in its suit against Binance, claims the cryptocurrency ether is a commodity while the SEC and the New York Attorney General both argue it’s a security.