Ah, so I'm only allowed to do cryptography if I have a "legitimate use case". I've heard that before.
Also, nice list of people who did cryptography wrong. I guess there's more innovation to do.
To be clear, I think there's a legitimate need for crypto regulation to ensure that businesses that claim to be custodians do in fact have all of the crypto. The fiat rails are a sensible place to do this. Incidentally, this clearly illustrates why crypto is property and not a security.
Also, nice list of people who did cryptography wrong. I guess there's more innovation to do.
To be clear, I think there's a legitimate need for crypto regulation to ensure that businesses that claim to be custodians do in fact have all of the crypto. The fiat rails are a sensible place to do this. Incidentally, this clearly illustrates why crypto is property and not a security.