Why The US Government Hates Crypto So Much (2024)

The recent banning on staking was just the tip of the iceberg. We can expect those discriminatory attitudes toward crypto to come relentlessly in the near future. Sometimes it’s really weird to see how antagonistic the US government is toward this industry. Perhaps the most antagonistic on earth, only surpassed by China. But China already infamously has weird approaches toward a lot of things, and the US certainly doesn’t want to be put in the same box as China. The land of freedom, innovation, and exploration, the US claims to be everything that China is not.

So, why such an attitude? I wonder. To understand them I need to put myself in the mocassins’ of Uncle Sam.

The Internet was a technology that was born out of US military research. Back then, the internet was more of connected computers, instead of one single node providing data to everyone. The decentralized design choice was not without reason. So the network is hard to be hacked, something that was important during the cold war era.

So, the US has experienced firsthand how indestructible a decentralized network is. It was nice and dandy when the US, already a control freak, was in control of this technology.