What's Stopping Authorities From Going Full Crackdown On This Internet Money?

A little strength here, a little weakness there, every system has it, but in the case of cryptocurrency, strength is more of a dominant trait. If we observe carefully, the authorities are a bit skeptical about taking any strict actions on cryptocurrency, there's only one truth that follows this, and that's the fact that they stand a chance of losing a lot in the process.

Crypto bans are only going to pose a threat to a nation's economy, considering the exposure it has already gotten, if we look at the Asian continent, the strict actions taken against crypto over there would cost them. A report outlines the rather inflow of cash to DeFi protocol regardless of crypto exchanges being set on flames in North Korea. This is obviously a temporary action taken by investors, the latter part of it would be disastrous for the nation. In the U.S, the sec are quite aware of the strength of the crypto industry, the work or labor force and investors they would risk to lose if they decide to crack down crypto aggressively. Letting crypto flow would mean they'd lose power, placing a ban on it would trigger migration, and that's not something the U.S government would want to see play out.

Institutions are already tired of the command economic system ( a.k.a centralized system). The U.S, if I'm not all memory wiped on my economics, runs on a capitalist system, but unlike its definition that's supposed to promote free markets, where private sectors can run programs and make profits therein, America still falls under the tree of regulations and control. Cryptocurrency is the capitalist program that's set up to fully enhance free market, due to that, it's actually difficult for the U.S authorities to impose a ban, so there are left with two choices, one is to find faults and keep spreading FUDs to scare off people and the second is to try and regulate it, just to keep being in power.