Republicans suddenly love crypto. Americans should beware.

When he was president a few years ago, Donald Trump called it “a scam.”

Nothing much has changed about cryptocurrency since then. In fact, the biggest news has been the spectacular crash of cryptocurrency exchange FTX and the conviction of its founder on fraud charges. Cryptocurrency is a volatile asset with no intrinsic value. It is used almost exclusively to speculate or to engage in shady businesses, such as selling drugs or collecting ransom, for which the anonymous nature of crypto accounts comes in handy.

 
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