Judge Jed Rakoff has expressed concerns about cryptocurrency, labeling it as inherently risky due to its operation outside government control. According to NS3.AI, Rakoff views cryptocurrency as a potential threat to established monetary systems that are under state supervision. However, the article highlights Bitcoin's creation as a response to failures in the financial system, designed to offer monetary sovereignty without reliance on central authorities. Recent trends indicate a growing acceptance and custody of Bitcoin by institutions and tens of millions of Americans, suggesting a shift towards financial autonomy that transcends traditional court and regulatory oversight.

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