CoinDesk reported:
That would harm American innovation, our economy and U.S. investors. Prohibition didn’t stop people from drinking alcohol a century ago; it just forced them into speakeasies where they were overcharged for liquor that too often got them sick. Overregulating crypto would have the same impact: Trying to take the freedom to choose from American customers will simply chase them to what Rep. Tom Emmer (R-Minn.), the third-highest-ranking member of the Republican majority in the U.S. House of Representatives, warns are “offshore, unregulated, opaque and unsafe markets.”