I assume you're not familiar with the developments in the space, like the growth of stablecoins ($20 billion to $140 billion in two years) and their proliferation across numerous domains and developing economies.
This is extremely consequential to US national interests, as at the moment, the USD is the primary collateral backing stablecoins, which means that stablecoins could usher hyper-dollarization as a result of their ability to extend the USD's reach to all corners of the world.
More generally, a free market generally works better than the government dictating, on the basis of centralized binding judgments on what is useful, that particular technologies cannot be worked on.
The former is consistent with US values and the latter is the province of top-down controlled societies like the PRC. The latter lacks the humility to acknowledge that you may not know everything and you may support the wrong centrally imposed plan on other people.
