Comment by toss1

THIS, Exactly!

>>"Escaping regulations" is some libertarian fever dream

The same for "Free Markets".

People scream about "Free Markets" and use that standard as a cudgel to complain about any regulation they do not like.

The fact of the matter is that free markets do not exist, or if they do, they are a very transitory anomaly, the exception that proves the rule. Every market has (varying) expectations of trust and honesty on each side, and sets of constraints on what is and is not a legitimate transaction or even objects (real or virtual) for transaction.

The only question is who is regulating the markets, and to what degree and with what intent they are regulating them.

Obviously, regulations can be too heavy or too light to sustain the market, and will need adjustment. In practice, regulations are almost always too heavy or light (especially from the POV of particular parties) and in need of frequent adjustment.

But the idea of "escaping regulations" and having an absolutely "Free Market" is a false idol and actively damaging in the real world, where the debate should be how much and what regulations are appropriate, not a stupid "all regulation is bad" cudgel.