It's no secret that there's an argument for regulating the crypto space.
For starters, the collapse of TerraUSD, one of the largest algorithmic stablecoins, sent shockwaves across the world. The token it was backed by—Luna—saw its market value drop by over 98% in just one day, which cost the market about $40 billion. You also can't forget the multiple claims of money laundering transactions that happen on the blockchain.
These data points support the idea that regulatory intervention is needed to protect investors from losing more money to the rise of decentralised finance or "DeFi".
But it's not so clear cut.
On the one hand, there is agreement that many crypto investors have been victims of this burgeoning ecosystem. As such, regulators worldwide now feel the need to step in