Bloomberg’s influential columnist Matt Levine says the battle over whether the U.S. should ban crypto is already settled—and the answer is no.
In a recent op-ed, Levine argues that digital assets have become too ingrained in global finance and innovation to be outlawed, despite the chaos and scams that still plague the industry.
“Crypto isn’t going away,” Levine wrote, calling the idea of a sweeping ban outdated. While he acknowledges the space is full of questionable projects, he believes regulators must find a way to govern it rather than attempt to eliminate it.
Levine highlights the paradox regulators face: crypto can’t be fully embraced under existing frameworks, yet leaving it unregulated poses risks. He criticizes the previous approach under Gary Gensler, where most tokens were seen as securities—effectively blocking legal compliance and stifling innovation.
Instead, Levine sees promise in the SEC’s evolving strategy under Chair Paul Atkins, who recently launched “Project Crypto” to develop new pathways for digital asset oversight. The initiative aims to treat crypto as a unique asset class—not as a copy-paste version of traditional stocks.
Levine believes this direction, while imperfect, is the most reasonable path forward. Rather than force crypto into a regulatory mold it doesn’t fit, the SEC should build one that reflects its hybrid nature: both a tool and an investment.
In Levine’s view, the debate is no longer about whether crypto belongs—but how to make room for it in a responsible way.
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Source: https://coindoo.com/too-big-to-ban-why-the-sec-has-to-embrace-crypto/