As practice shows, the "invisible hand" can not always operate on its own, the same applies to crypto economy.
1, no it doesn't, and 2, no it doesn't.
The invisible hand has never operated without interference for long. Whenever regular people should simply learn from their own mistakes, or learn from the mistakes of others, government and the newsmedia step in and start repeating over and over again about how much we need some authority or other "to stop this sort of thing happening". Then, the new authority fails to stop anything, and instead gets people to pay for very expensive high security housing for the transgressors (commonly referred to as "prison"), where criminal attitudes and skills are only consolidated, not reformed.
The "law" is poorly named: it is trivial to break, and therefore not any kind of law at all. That's what makes cryptocurrency (and cryptography in general) superior to man-made rules: breaking the rules of the Bitcoin network (guarded by cryptographic proofs) is next to impossible.
And so the crypto-economy can, and already does, operate on it's own. It's messy, but it's actually the capitalism that people like Adam Smith, Karl Menger and Frederic Bastiat wrote about. Except this brand of cryptographic capitalism is very difficult to interfere with, hence why the top-down authoritarians in government and the finance world are so afraid of it: because this is real capitalism, they will actually have to compete, and they're afraid of a real competition
