I hope the next congress or next administration shuts crypto down. We do not need or want it in the US economy.
It's been nearly 20 years, what are cryptocoins useful for? And not personally, I mean what have the cryptocoins done to improve the USA?
If it's useless to the country, then they should be banned. That way, our investors can spend money on actually useful investments that help our citizens.
Then there's the fraud. If the underside of society or the get rich quick types thought for a femtosecond they COULD NOT convert crypto nonsense into actual useful currency (usd, Euro, etc.) --- which is what they really want anyway --- their interest in crypto would die the same day. Ditto for miners and exchanges.
Crypto is used primarily to evade regulation, bilk the stupid people, or wash ill gotten gains.
None of that is remotely close to value add to the economy.
Crypto has feasibility issues quarter to quarter of not being hacked with no serious regulation (based in law with enforceable judgements based on finding of fact) to counter fraud.
You got a one off transaction that your bank doesnt handle? Use PayPal, stripe, amex.
Cryptography is highly resistant to fraud, maintaining high integrity by merit of things like hash functions and digital signatures. Humans fall for scams and we can’t blame the math for their ignorance.
Maybe you might get the point of this next decade, but I do sincerely hope that you have a simple life of PayPal mediated transactions.
I guess for the USA as a whole it can be difficult to identify purely good effects, although the same can be said of things like social media. For individual holders, cryptocurrencies (not shitcoins mind you) have been a pretty decent way to hedge against a rapidly devaluing US dollar. Gold would be the same I guess, but gold is either risky to hold physically (and difficult to transport) or you are at the mercy of a custodian beholden to one or more governments.