So far, US regulators have:

1. Created hostile tax accounting requirements for individuals, which deter Bitcoin’s use as peer to peer electronic cash.
2. Collapsed financial institutions, such as Silicon Valley Bank and Signature Bank, who provided banking services to exchanges.
3. Approved ETFs, providing institutional access to paper Bitcoin.
4. Approved shitcoin ETFs which distract the uninformed.

If I were orchestrating a coordinated effort to defend US dollar hegemony, and co-opt the Bitcoin network, I would likely:

5. Increase Capital Gains Tax (CGT) for spot Bitcoin holders.
6. Encourage paper Bitcoin exposure and derivatives, such as MSTR, COIN, MARA et al.

Is it just me, or is this starting to look like Operation Choke Point 3.0?