The New York Attorney General's Lawsuit Is Exactly Why Politicians Should Leave Crypto Alone

Everyone saw her tweet right? It's extremely brash and not at all based in reality. It just highlights how little she knows about crypto. This feels like another "China is banning Bitcoin" theatre.

Politicians and regulators should stay away from crypto:

Cryptocurrencies are still in their infancy, and as such, are highly volatile. In addition, crypto assets are not subject to the same rules and regulations as traditional financial assets. For these reasons, regulators should stay away from cryptocurrencies for now.

As cryptocurrencies become more mainstream, there will likely be more calls for regulation. However, it is important to remember that cryptoassets are different from traditional assets like stocks and bonds. They are much more volatile and complex, making them difficult to regulate effectively.

In addition, many cryptocurrency users value the lack of government intervention in the space. If regulators were to start getting involved, it could scare off investors and stifle innovation. This describes me to a tee and probably a lot of folks on this sub.

For now, it’s best to let cryptocurrencies develop naturally without too much interference from authorities. As the space matures, we may see more need for regulation – but for now, it’s best to leave well enough alone

To counter the AGs statement, Nexo released their own.