I think it’s because many people are quite deeply invested in crypto, and the result is that they can be extremely emotional and irrational. Efforts to regulate crypto and make it “not a scam” essentially means they will have wasted tens/hundreds of thousands of dollars and that is embarrassing and shameful.
They’re locked into irrationally promoting crypto because it’s the only way to protect their “investments” and their dignity.
Lot of assumptions and leaps here. Besides generalizing a group of crypto owners, you are assuming regulation would devalue crypto. Has there been less or more regulation around crypto in the past 10 years? and how has the value of BTC, Ether fared during the past 10 years?
They’re locked into irrationally promoting crypto because it’s the only way to protect their “investments” and their dignity.