US regulators are also choking money laundering and trying to freeze an entire industry out of banking services.

Is this a good thing or a bad thing?

> The effort would stifle American innovation and competition

No, please, just one more ponzi scheme and we'll get the future we deserve!

Why is this a surprise to anyone? At bare minimum this was the expected outcome assuming that crypto was legit but nevertheless a means to circumvent the current SWIFT payment system and move money undetected world-wide without tracking and bank carrying charges. Anyone with a modicum of sense knew that there is no way the Feds would allow an alternative to their system of monetary control -- think of the drug dealers and the terrorist! Ask Gaddafi about his plan to circumvent SWIFT and we will have to wait and see how it works out for Xi and Putin and the rest of the BRICS.

That crypto was not strangled in its crib by regulators led me to believe that it was a See-Eye-Aye psyop from the start. The mysterious Satoshi Nakamoto was a S-E-A working group and is still a mysterious, anonymous and retired beneficiary of mankind for inventing bitcoin. It is more than a little suspicious that "he" never claimed billions of dollars worth of crypto owed to him in the first ICO in history. In any case, the goal is now obvious -- to lay the ground work and acceptance for FedCoin or CBDCs, etc. and total control.