Crypto Task Force Criticized for Lack of Action, Urged to Empower Industry

Coin WorldFriday, Mar 14, 2025 11:06 am ET
1min read

In early February 2025, the Crypto

Force held a press conference that was met with criticism for its lack of enthusiasm and concrete action. While the task force acknowledged the need for regulatory clarity, it failed to propose meaningful changes that could empower individuals in the crypto industry. The task force was established by the president in January 2025 to develop a federal regulatory framework for digital assets, including stablecoins and a Bitcoin reserve. However, the task force's approach has been criticized for being too cautious and not ambitious enough.

The task force should take a more proactive approach to crypto matters, similar to the Department of Government Efficiency, which has been working to cut wasteful federal agencies and programs. The task force should expose the dangers of central bank inflationary money and promote decentralized, permissionless currencies. It should also work to stamp out fraud and educate the public about the virtues of proof-of-work and the pitfalls of proof-of-stake coins.

The goal of the task force should be to establish a freedom-focused growth trajectory for the crypto industry in the US. This would involve creating a regulatory sandbox that enables founders to develop technology in legal gray areas without the fear of prison or jail time. The task force should also work to repair the damage done by previous SEC witch hunts and de-banking of crypto founders. The task force must let the market decide and not protect big banks against crypto.

The US has fallen behind in the crypto arm's race and needs to take a more progressive approach to catch up. The task force should focus on innovation and education, rather than creating more red tape. The US needs to empower the retail investing public to partake in new markets like blockchain and AI. The task force should also consider using confiscated Bitcoin to create a strategic reserve, rather than selling it.

The task force must work to build a renewed

of technological innovation in the United States. The US has already suffered a brain drain, as entrepreneurs have left to pursue opportunities in friendlier jurisdictions. The task force should take a radical approach to close the gap and unleash the crypto-anarchists with the enthusiasm of DOGE. If the task force does not take meaningful action, it can be expected that crypto-anarchists will continue to push for change.