It's time for regulation. Financial institutions that can cause systemic damage are regulated and taxed to pay for (a) that regulation and (b) remediation should (a) fail. We need that for crypto.
> are a quite a few stablecoins functioning perfectly
If people believe this, we need special regulation for stablecoins. The one thing more dangerous than a risky asset is a risky asset pretending to be safe. (The regulator and its enforcers can be funded out of a special tax on stablecoin holdings by U.S. persons. Hell, make it revenue positive.)