There is a crypto subculture that thinks crypto is unbannable for a variety of reasons that fail the hit-them-with-a-wrench test.

With some level of plausible deniability, you pass the hit-them-with-a-wrench test because you can't just hit everyone with a wrench.

Not with that attitude you can't.

The point is not the legislation. The point is enforcement.

You can write and pass whatever law you want. If it can not be enforced, it does not exist.

If our government can catch money launderers because they’re running empty washing machines or selling unused tickets to shows, it’s hard to think of anything useful crypto can do that couldn’t be meaningfully regulated away.

The government takes billions of dollars from people every year without due process, using civil forfeiture laws:

https://ij.org/press-release/new-report-finds-civil-forfeitu...

But there's no evidence it stops much real money laundering:

https://www.tandfonline.com/doi/full/10.1080/25741292.2020.1...

If money laundering were effectively dealt with, that would stop almost all theft and organized crime, as laundering the proceeds of these crimes to spend them would be nearly impossible.

Obviously that will never happen.

I’m against civil forfeiture laws, I don’t think they are important in the fight against money laundering.

Anyway I’m not saying money laundering doesn’t happen, it does… and that’s probably the best case use case for crypto and one of the pillars of its value-add. People who don’t care about legality won’t care if crypto is regulated away either. I’m just demonstrating it’s not free to get away with these crimes. Plenty of people get nailed for money laundering every year.