1
News related to Crypto / Re: Former Binance CEO CZ: I Will Do My Time — Crypto Industry Has Entered a New Pha
« Last post by Baofeng on Today at 05:19:45 PM »
I think CZ is right with his perspective that the cryptocurrency industry is now entering a new phase where compliance and the role of the government are taking the centerstage. In other words, there is now nothing we can do that the government will not be involved somehow, someway. and this should be the time for the industry to think hard as the government will not go away no matter what we do...they are here to stay so there is no choice but to comply and even partner with the government so that platforms can continue doing business and never be prosecuted and like CZ meted a prison time sentence. Anyway, I am still happy that CZ got only 4 months which is significantly lower than what the government prosecutors were asking the court. Four months can easily fly and soon he will be out with all the lessons learned...and enjoy a comfortable life somewhere with his loved ones as he is surely a very rich man.
Yeah, and its just over 10 years for crypto industry and yet government are already hot on it's tail with this compliance and regulations and then with central bank digital currency (CBDC).
The impact that Satoshi is really far fetching effect, now we have the head of the biggest crypto exchange established in 2017 being punished found guilty and will have to face jail time. And in just short amount of time, the landscape is really changing and it's hard to see what will be the environment in the next 10 years.