What do you not understand about crypto law or policy that you wish someone would ELI5?

why isn’t the US govt trying its best to accommodate crypto? or at least, create an environment that’s more incentivising for crypto companies? 

considering how much innovation has already come out of US’ crypto space.

thank you jake! this is really insightful.

Many things at once:
- skeptics think crypto is for gambling and crime
- critics worry about illicit finance, e.g., DPRK hacks
- special interests (read: banks) lobby for the status quo
- Biden admin defers to Warren on finreg policy
- not enough champions to get new laws done
- industry too small for the rest to care