Comments by "Kristopher Driver" (@paxdriver) on "Cryptocurrencies: how regulators lost control | FT Film" video.

Here's why the SEC and FTC are wrong about crypto: as soon as you create a bitcoin wallet that gets resolved to the chain, and money exchanges hands, and licensed business are accepting it for transactions between citizens and other registered businesses, it's guaranteed to fall under their jurisdictions. The reason crypto isn't regulated is because the SEC and FTC are scared to admit they don't understand it well enough to make rules that won't make them look incompetent. A mature, responsible adult would admit their shortcomings, given they are working for tax payers, asking tax payers for help would be perfectly reasonable. We're not looking for force faults into wasteful endeavours, be honest and we'll figure it out much more quickly than pretending they don't think currency is currency with dictionaries and wiki searches available.
37