The newest Economic Report of the President, transmitted to Congress this month, dismisses arguments regarding cryptocurrency’s benefits and notes its costs to consumers, the environment, and the financial system. The report includes a chapter on the “perceived appeal” of crypto assets as opposed to the “reality’ and explains, “Indeed, crypto assets to date do not appear to offer investments with any fundamental value, nor do they act as an effective alternative to fiat money, improve financial inclusion, or make payments more efficient; instead, their innovation has been mostly about creating artificial scarcity in order to support crypto assets’ prices — and many of them have no fundamental value.”