Securities and Exchange Commission (SEC) commissioner Hester Peirce, who has earned the moniker “Crypto Mom” for her friendly stance on cryptocurrencies, told a MarketWatch virtual conference that any efforts to ban cryptocurrencies such as Bitcoin would essentially be doomed to failure and any government that tried would be “foolish.” Investment managers have warned that a key risk to cryptocurrencies as a viable asset class is that the government could simply ban them. Ray Dalio, billionaire investor and founder of Bridgewater Associates, told Yahoo Finance in a recent interview that there’s “a good probability” that governments around the world would ban Bitcoin and other cryptocurrencies, much as the U.S. government once banned private holdings of gold. “Every country treasures its monopoly on controlling the supply and demand. They don’t want other monies to be operating or competing, because things can get out of control. They outlawed gold, that’s why also outlawing …