So, what happens when Biden writes the executive order for crypto regulations?

What regulations? Does anyone know what they might be? Janet Yellen is involved, so I automatically see big banks taking over.

"Oh, we're just old men here in congress. We don't understand all this newfangled internet stuff. That's why we've asked our good friends over at Goldman Sachs to help us figure it out. Our new currency will be the 'Goldman USA Dollar'.

Can something like that happen? Do too many people have money invested in crypto that we can fight back somehow? What if crypto is banned and each exchange ordered to give back the money people staked?

Or will it simply be a way to keep track of it? Does anyone know anything about this?

You can say that the political blowback will be too great for him to make sweeping changes, but how would a new official US cryptocurrency be different from a regular paper dollar now? It would be the same, right? Same debts owed, money for military, etc. Is that why the crypto market is going crazy now? What if it becomes illegal to buy anything with crypto?

I know, I have lots of questions and no answers. Just want to start a discussion about what we do if Ethereum is somehow co-opted by the big banks.