“Where digital assets land, at the end of the day … will be driven in part by regulation, both domestic and international,” Former SEC Chairman Jay Clayton recently told CNBC.
Since then “the group has had a decidedly low profile. It has an active online fundraising page, but its website is offline. A Facebook page is ‘liked’ by only nine people. Its Twitter account has zero followers and only one tweet from April, soliciting input for a survey on veterans’ concerns. A search of media databases shows no instance of the group being mentioned in news stories.”

Gensler recently went so far as to say investors are “likely to get hurt” if stricter regulation is not introduced. Plus, the IRS has an obvious interest in making sure investors know how to report virtual currency when they file their taxes.
As a result of the relationship between supply and demand, the price of a cryptocurrency can be manipulated to an extent. A concerted effort to match all the open orders on a particular crypto across several exchanges will create an artificial shortage.