Cryptocurrency is a general threat to "society". It enabled a lot of bad actors and issues that did not exist before, and it is also in contrast to a lot of previous legislation created specifically to protect the average citizen. We should all treat it as a threat.

Agreed. And, btw, they are not going against token developers or miners but against companies that are profiting from selling securities without complying to the regulations and some times even wash trading them.

That’s right. This doesn’t stop your crypto hobbyist from starting the next ETH project. But it does stop scammers and unregistered securities.

Name a single "bad issue" cryptocurrency enables that did not exist before. Not one that is now easier, but one that did not exist and is now possible, that would not be without them.

Ransomware. The ransomware economy is powered by crypto, did not exist before crypto, and would not exist without the key feature of crypto, that it allows transfer of money without KYC.

Ransomware is easier thanks to crypto, but it doesn't exist only because of crypto. It predates crypto.

"But the early ransomware attacks long predate cryptocurrency – the first recorded is thought to have taken place in 1989..."

"Without the existence of cryptocurrencies, ransomware would still be a big problem, says Nick Biasini, head of outreach at Cisco Talos. “If you go way back and start at the beginning of ransomware before it became the pervasive issue that it is today, it was actually not based on cryptocurrencies. The payment system was designed around gift cards or various other types of payment cards that you could operate.”[1]

"The first known attack was initiated in 1989 by Joseph Popp, PhD, an AIDS researcher, who carried out the attack by distributing 20,000 floppy disks to AIDS researchers spanning more than 90 countries, claiming that the disks contained a program that analyzed an individual’s risk of acquiring AIDS through the use of a questionnaire. However, the disk also contained a malware program that initially remained dormant in computers, only activating after a computer was powered on 90 times. After the 90-start threshold was reached, the malware displayed a message demanding a payment of $189 and another $378 for a software lease. This ransomware attack became known as the AIDS Trojan, or the PC Cyborg."

[1]: https://techmonitor.ai/technology/cybersecurity/ransomware-a...

[2]: https://www.digitalguardian.com/blog/history-ransomware-atta...

That's a fairy tail. The global cryptocurrency market cap is $1.13 Trillion as of today and there's no sign that it'll be back to its peak.

Do you really think it's not the same people sitting at the top of crypto too?

Criminals gonna criminal where it makes money.

That's one of the great fantasies in crypto: "The geek shall inherit the earth"

There's no reason to believe banks and governments haven't been stacking crypto. The argument is that it wouldn't go unnoticed and large buys would drive up the price, but a well-run purchasing project could easily handle "small" purchases over a long-term, especially if the goal is control and not price speculation.