This alone wouldn't be enough because anyone can trade crypto (and stock-pegged crypto tokens) anonymously. They need to be regularly audited by the IRS too - the burden of proof needs to be on the legislator, not on the state.
Once upon a time, the French devised a brilliant device for just suck an occasion. Tall wooden structure, big heavy sharpened blade, used a lot of gravity.
How will they exploit their position for profit though? Selling policy to the highest bidder like a regular corrupt politician? Pff have some class will you...