Crypto Has ‘No Intrinsic Value’ And ‘No Useful Social Purpose,’ Say Lawmakers — Bitcoin Obituary #402

Obituary #402 · · Bitcoin at $27,399
However, with no intrinsic value, huge price volatility and no discernible social good, consumer trading of cryptocurrencies like Bitcoin more closely resembles gambling than a financial service, and should be regulated as such. By betting on these unbacked ‘tokens’, consumers should be aware that all their money could be lost.