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It doesn’t help that crypto is used as part of ransom attacks and other criminal activities. Therefore, it’s not out of the question that the utopian dreams of crypto purveyors are simply legislated out of existence. Of course, the political implications are but one facet of their future. Crypto faces other significant hurdles, including the financial and environmental costs of “mining” them. Another risk: because of their volatility, many cryptocurrencies are mostly unusable as currency and it’s “being sold to people who have no intention of using it” as currency, And finally, IRS rules on taxation make crypto unwieldy as a payment system. After you’re done cooling down and have assessed the situation and what it means for the future, you’ll want to consider how to act.
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