Not really. An industry produces goods and services. What does crypto produce?
Money. Jobs. Aficionados. “Real” as in it has political heft.
Exchanges are industry that allows people to trade assets
Could you elaborate, please? It was my understanding (perhaps mistakenly) that because so many foreign entities, be they countries, corporations etc, depend on the USD and it functions both as a reserve and for international trading, the U.S. Federal Reserve can be more aggressive with "dovish" policy.
Or stated another way, if fewer people/institutions held USD abroad, the risk of inflation would be much greater.
Well, there would be less immigration from Salvador to the USA so basically people concerned about economic refugees. I don't mean this in a xenophobic way. Balanced trade will improve the conditions in El Salvador and thereby let people stay in their home country voluntarily rather than be forced out for economic reasons.
Who in America would benefit from fighting this? Crypto is a real industry. It’s more profitable for the financial sector than similar activity in U.S. dollars. And the Fed doesn’t thoroughly love that it has to take international factors into account when its political mandate is purely domestic.
There is the interventionist foreign policy elite, but they aren’t on strong footing right now. The claim that the U.S. is hellbent on preserving the primacy of the U.S. dollar is largely a myth.