SBF wasn’t doing securities fraud with only crypto, if that’s what you’re thinking of. Also it was a pyramid scheme and not a pump and dump.

Normal money can get you a visit from the SEC when you do securities fraud with it. Has that ever happened with a crypto pump and dump?

This is also why people who complain about how “our tax dollars” are spent are missing the point. Their tax dollars don’t fund the government or any of its activities. Taxes are just an inflationary control measure; money is created when the government spends it.

I mean it’s also really really good at money laundering and other financial securities scams that are otherwise illegal in real currency. IDK why OP is being so dismissive of that.

As long as the gov refuses to regulate it, it’s going to be useful for crimes. On the off chance we ever get a government willing to actually do anything but war crimes and graft, regulating it would destroy a lot of its utility and value.

You can just say you did that without having to pay the money, the only thing you’d be missing is a website (that probably won’t be around much longer) confirming you did that. That’s kinda why NFTs didn’t work.