Barr: Supporting Innovation with Guardrails: The Federal Reserve’s Approach to Supervision and Regulation of Banks’ Crypto-related Activities

Regulate it, centralize it, monitor it closely, add full KYC as the banks do, not a problem.

Not a problem? It's a huge problem. If the US is overzealous in regulating the industry, then the industry will simply move to another country. Part of the problem with US regulators, is that they are regulating by enforcement action rather than making clear guidelines that a crypto company can follow. It's not that most crypto companies don't want to follow the law, it's that the government agencies are too lazy to create real guidelines that are easy to interpret and follow. The only reason the SEC is doing anything now is because of the FTX scandal. If the US is to heavy handed, another country will reap the rewards while the US misses out on the potential this industry has to offer. Hopefully, sanity will prevail, but right now, many crypto companies want nothing to do with doing business in the US because of the uncertainty.

Powell Coin to the moon

It's not necessarily a bad thing, you know. I think people can get too overzealous about their freedoms.

Yeah I hear ya man. What people should be overzealous about is not freedom but Responsibility. My thought is Governments will take over more and more as people willingly ignore responsibility to one and each other.

Oh boy here comes government take over of crypto

My guess is FTX was an engineered crisis to usher in central bank control.
Looks like a number of politicians cashed in off FTX.
Funneled cash around.
We will see how it goes.