Regulation is a good thing for crypto, as long as it's done reasonably.

The department of justice is about to release an international statement on the enforcement of cryptocurrencies.

Whether we like it or not, regulation was always coming to this space. However it was always assumed this would be years down the track.

Unfortunately recent events such as LUNA and FTX have accelerated the need for crypto regulation at least in the authorities eyes.

Initially the Biden administration had signalled their intention to regulate crypto in a way that doesn't stifle innovation. However there is now a genuine fear that the FTX debacle in particular has forced the government to crack down on cryptocurrency in a way that stifles innovation and chokes growth.

I think the government needs to realise that it was not cryptocurrency that caused FTX to crash, it was bad actors taking advantage of the space.

If there is to be regulation which now seems imminent, we need to be contacting our local senators and advocating hard for regulation to be done in a way that allows the crypto industry to thrive, not choke growth and innovation.