Really interesting. But, one has to consider the fact that the instability in the crypto market limits and somewhat discourages well any governing force to make it a legal thing. Ofcourse, a whole new difference and stability might be achieved when it actually does get such a status!
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The instability largely results due to low liquidity or volumes where large transactions can result in changing the price sharply. It will be a few years before this effect gets corrected by larger volumes and greater public participation in crypto.