Is a “Crypto Crackdown” Good, Bad, or Both?
— World, Retail investors, Functions necessary, Owned crypto, Luna, First real breakthrough, Claims, Sustainable growth, Sell, 3ac — 1 min read
Many crypto investors were deceived by schemes such as “high-yield stablecoin lending” These platforms sounded relatively safe, but it turns out that nearly all of their claims were too good to be true. Terra-Luna, the ~$50 billion trainwreck we covered a few weeks ago, collapsed last week. With the amount of money lost by retail investors this year, heightened scrutiny of the crypto industry seems inevitable. In America alone, roughly 145 million people own or have owned crypto in the past, according to a May 2022 survey by Ascent. That alone should provide lawmakers with a rational motivation to enact rational laws that won’t affect legitimate projects, says HIVE President Ain Kilic for the matter. Source