John McAfee’s recent detention in Spain caps off a few weeks where crypto news feeds have been dusted with reports of regulator enforcement actions and bans, arrests, and an exchange hack.
Crypto news hasn’t looked like this in a while. The terrain of the crypto sector may once have been blighted by exit scams and cowboys, but the post-BlockFi, post-Grayscale crypto landscape is an entirely different beast.
Does the recent spate of stories related to crime and legal proceedings suggest that the sector is being mopped up for a brighter future? Are regulators only now catching up? Or does it suggest that no matter how much it matures, the smell of money about crypto will always prove tempting for bad actors?
The return of the bans, hacks, arrests and enforcement actions
After a year of deliberations, the United Kingdom’s Financial Conduct Authority found crypto derivative products to be “ill-suited for retail consumers due to the harm they pose.” The