There's light at the end of the tunnel - the Commodity Futures Trading Commission(CFTC) Chair gave a speech addressing Cryptos in front of Congress.
Highlights of what he said:
"His kids were not interested in stocks but are hooked onto cryptocurrencies, and the government has to respect that, and develop a positive outlook.
While scams and fraudsters must be cracked down, the general market must be allowed to develop. A working group of SEC, FINCEN, CFTC and other group members are working on identifying scams in this space.
When asked if Crypto has any "intrinsic value"? - There is an intrinsic value and relation of the value of bitcoin and the cost of mining it.
"We must crack down hard on those who abuse our young enthusiasm for bitcoin and blockchain technology"
"We owe it to this new generation, to respect their interest in this new technology with a thoughtful regulatory approach."
Not the holy grail, but it's a start.
The more those assholes get involved the worse it'll be for everyone. We're inc crypto to get away.
Get away from the Fed and the archaic banking institutions, yes, but not the fundamental government that this country was built on; even if the majority of them are corrupt.