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Crypto start-ups reap rewards from Wall Street's FOMO
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economictimes.indiatimes.comcryptocurrency’s spiritual forebears, Timothy C. May, predicted in the 1990s that untraceable digital cash would allow online casinos, bank secrecy and money laundering to flourish.
Although laws would be dodged, he said, the individual anonymity and freedom would be worth it — at least, until the inevitable government backlash. This cycle is playing out almost three decades later, as regulators take a fresh crack at the $2.4 trillion crypto sector that’s ballooned largely out of their reach.
Crypto executives were grilled by U.S. lawmakers on Wednesday after a series of probes and fines into trading platforms amid a post-Covid digital gold rush.
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