The former CEO of Celsius has been arrested!

[ImamShaheb]

📌 Former Celsius CEO Alex Mashinsky reportedly arrested

🟠 Fined $4.7 billion by the U.S. Federal Trade Commission

✅Source:
Breaking: Celsius Network fined $4.7B by FTC

 

[Maxicreed]

I think those calling for regulations were right cos if the crypto market was regulated he wouldn't be able to get away with such amount and same goes to SBF. But on the other hand regulation could defy the real value of the crypto market which brings me to this begging question " how can we get it right in this space?" to reduce scam and security exploitation to the barest minimum

 

[ImamShaheb]

I think those calling for regulations were right cos if the crypto market was regulated he wouldn't be able to get away with such amount and same goes to SBF. But on the other hand regulation could defy the real value of the crypto market which brings me to this begging question " how can we get it right in this space?" to reduce scam and security exploitation to the barest minimum

Actually, proper crypto education can prevent scams. Crypto space have plenty of best developers & recently we've seen their dedication to help in different kinda scams. May take a look at ZachXBT's(Twitter Handle) tweets regarding WSB's scam! So yeap it's possible to make this space cleaner together!

 

[Kizozo]

I think those calling for regulations were right cos if the crypto market was regulated he wouldn't be able to get away with such amount and same goes to SBF. But on the other hand regulation could defy the real value of the crypto market which brings me to this begging question " how can we get it right in this space?" to reduce scam and security exploitation to the barest minimum

In as much as regulation might be a good option at the moment, I don't totally subscribe to it because the growth of this space will obviously be affected if not truncated. Both options of regulation and irregulation by government has their pros and cons but we are currently at a crossroad and a miscalculated decision can either make or marr the whole industry.

 

[Maxicreed]

You aren't far from the truth but what can you say from the successes of the few exchange that have agreed to be regulated so for in Europe and northern America. Coinbase, Kraken and recently Bitget are such example.
I may agree that total regulations may not be the answer but a partial one could put the top players in this industry on their toes to always get things right.

 

[ImamShaheb]

You aren't far from the truth but what can you say from the successes of the few exchange that have agreed to be regulated so for in Europe and northern America. Coinbase, Kraken and recently Bitget are such example.
I may agree that total regulations may not be the answer but a partial one could put the top players in this industry on their toes to always get things right.

Doesn't that violate the term 'Decentralisation'? It's the beauty of crypto space but whenever mass regulations will come, dirty things will happen 🥲.

 

[ImamShaheb]

In as much as regulation might be a good option at the moment, I don't totally subscribe to it because the growth of this space will obviously be affected if not truncated. Both options of regulation and irregulation by government has their pros and cons but we are currently at a crossroad and a miscalculated decision can either make or marr the whole industry.

If regulators come for BTC (The leading crypto) then Satoshi's dream won't be true. Btw, I've heard that, someone has implemented BTC's white paper on every new iPhone ,is it true?