Honestly, the White House needs to open up the space and make public declaration in support of Cryptocurrency. That way China will die daily regretting its action in clamping down on Bitcoin. The earlier the better for the US. A few countries are already adopting the blockchain technology into its financial system and this is where the modern technology lies. These countries may springboard on the cryptosystem to become a force in global economy.
I think most governments are in a conundrum.
They probably know the following:
- Good for them: Cryptocurrency industry will grow. Whichever country embraces it, will grow their economy.
- Bad for them: Cryptocurrency will loosen government's control over monetary policy.
They're damned if they do. They're damned if they don't.