Monday, November 30

The End Days For Crypto Criminals Are Not Far Away, And Good Riddance

John McAfee’s current detention that took place in Spain finished off to achieve a few weeks where the news feeds on cryptocurrency have been brushed off with reports on regulator enforcement works and bans, an exchange breach, and arrests.

Let’s Get into Details

News on the cryptocurrency has not been like this for a while now. The land of the cryptocurrency sector has been ruined, and the cowboys and scams have been entirely responsible for it. However, post-Grayscale crypto landscape, the post-blockFi is altogether a different beast.

Now a few questions arise: Does this new crime series stories recommend that the segment is being finished off for better future days? Are monitors only now gaining on? Or, is it recommending that it is not at all the case that how much it does get matured, money about cryptocurrency will always be proving enticing for bad actors?

The Hacks, Bans, Arrests and Enforcement Actions Return

The UK’s “Financial Conduct Authority” discovered crypto derivative products not to be suitable for retail customers because of the harm they pose, after one year of deliberations. The trade of crypto-derivatives and ETNs to retail investors from the United Kingdom will be stopped, and it will start early in the next year.

The Detention of John McAfee and Other Events

The announcement actually was made on Tuesday, and that was the same day John McAffee was detained at an airport in Spain. Now, he has to wait for deportation to the USA to experience charges that include a sentence of 30-year imprisonment.

It was about a few days ago when the “Commodity Futures Trading Commission” had filed a “civil enforcement action” in the US District-Court for the “Southern District of New York” against the current owners of BitMEX and the firm itself. The action claimed the trading platform that was not registered disobeyed a lot of CFTC monitors, and it was inclusive of failure to apply Anti-Money Laundering procedures.

Are the Regulators Gaining On?

It has been a while since the cryptocurrency was hit hard by the news of legal action, exchange hacks, and bans. It is possible that what we are seeing is law enforcement and administrative agencies bringing the ICO era to the last cry.

The denouement of the licit drama around the sale of Kik’s Kin token came the exact day as Salt Lending assented to an agreement with the SEC over its very own 47 million USD sale in 2017.

The Concluding Statement Regarding the Update

So, what did you understand from past events? There actually is a big lesson teaching us that cryptocurrency is not the one to live sustainably outside the hands of the law. The rules might be broken, but they will definitely be changing as time passes by. And, along with the change in time, cryptocurrency will also change. And, the days of the crimes would soon be seeing better days.