this post was submitted on 12 Jun 2023
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StopLies
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Well said! The people complaining about too much regulation are often looking for ways in which they can abuse others or place them at risk in furtherance of greed.
Mostly I think they're missing how much they benefit from the presumption that truly dishonest market participants will be shut down by regulation — and that therefore, most truly dishonest participants never bother to show up. The cryptocurrency space put up a flag saying "No Regulation Here, We Promise!" and oh my goodness, suddenly there's so many scams there.
... and, it turns out, the regulators saw that flag too, and now they're busting some of the scams.