The reason the U.S. has been the only real developed economy/polity to try and truly fight the existence of crypto seems downstream of three separate things:
- We have the US dollar, so stablecoins are less immediately paradigm shifting 
- less technocratic, more political policy creation
- 2008 crisis emerged from US

Former SEC/CFTC/House&Senate staffer. Now Policy@Paradigm. Perennial Optimist.

First is starting to be remedied by additional stablecoin usage, second is table stakes. 

Third is probably the most interesting intellectually. A whole burst of talented people got into finreg post 2008 on the left for the first time in generations.

It was paid lobbyist and a corrupt SEC. Don’t overthink it.

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hosting /kieran /usdc /loans /disclosure 🛸

I know for a fact it was more than that. And rather than “corrupt” it was more “politically ambitious and cynically vacuous SEC senior leadership.”