Opinion: When the crypto crisis hits (and it soon will), the U.S. will be forced to strip away the cloak of anonymity that facilitates criminal acts and which gives crypto its allure

A higher opportunity cost of money disproportionately drives down the prices of assets whose main uses lie in the future. The biggest investors in crypto may be in advanced economies, but the uses—and harms—have so far been mainly in emerging markets and developing economies. For poorer countries with limited state capacity, crypto is a growing problem. Advanced-economy regulators will most likely find that the problems with cryptocurrencies eventually come home to roost. A ban would certainly have to extend to financial institutions and businesses, and would also include some restrictions on individuals. It is more difficult to prevent “on-chain” transactions that the vast majority of people use digital currencies, as well as “chain-chain transactions’s underlying transactions” Source