I have posted some thoughts on Binance and FTX recently as well as Coinbase.

I have been reading about the Senate banking hearings. It is interesting to me to hear elected officials who have no idea what they are talking about talk like they know what they are talking about. I mean, they are elected because they can sell a bill of goods to voters. That is what they are good at. Just ask a politician about something, and at least publicly  most will tell you they can solve all of our problems with that issue.

I for one, don't want uneducated politicians making up stuff as they go on the topic of cryptocurrency.  

I don't really know what to think of Kevin O'Leary. I know he is or was on Shark Tank. He also has been a big proponent of cryptocurrency. I think he was right that they should use the already in place rules for governing finances and banking when regulating cryptocurrency.  If this is done, it can help keep businesses honest that run crypto exchanges, wallets, cryptocurrencies themselves, and any other thing regarding cryptocurrency.  

I admit I have not been following cryptocurrency for very long. I have not grown with it from it's infancy until today (maybe it is currently in the end of the infancy stage).  However, I think I understand part of the allure of cryptocurrency is that it is anti-establishment.  I can understand that and why people don't want a lot of regulation. In general, I agree that we need less government regulation in everything in our lives. However, we need a small level of regulation to keep those who want to harm others somewhat at bay.  

Unregulated cryptocurrency does not help the average crypto investor. It helps those who want to harm the average investor. Just like a land with no laws, it does not help the average person, it only allows those who want to harm some level of protection from consequences of harming others. Having a good idea does not make it a good idea. Sometimes, a good idea is more of a good idea than it is a good idea (Think about it, it makes sense).  We all lived in the real world, no matter how much we try to make fantasy reality, it is still fantasy. 

I wish cryptocurrency could go unregulated and that all would be well and good. However, that is just that, only a wish. I don't like drinking the Kool-Aid.  Unregulated cryptocurrency is not a Kool-Aid I want to drink.