State regulation seems contradictory to the spirit of Cryptocurrencies, but perhaps this moment is inevitable — and even necessary.
The curious thing is that the actions of States have often been cautious and respectful, as if they recognize that there is an emerging order in the crypto ecosystem.
This phase of integration could be precisely the bridge between decentralized innovation and traditional financial systems.
The presence of the State, paradoxically, validates and strengthens what was once considered rebellious.