Like the saying goes, where there is no law, there is no sin.

This is why the crypto world has been plagued with so much frauds and scams. The scams in different crypto affairs from ICOs, to bounties, airdrops, mining, etc have continued to be on the rise.

Studies have also shown that the number of scam or fraudulent ICOs in this year 2018 alone, already exceeds the record of all previous years put together. This unwanted record is likely to continue into 2019 and beyond if nothing is done to checkmate it.

I am also bothered that if the series of frauds are not checked, then the cryptocurrency concept which is still striving to gain more grounds and reputation may be dead without us realizing it. This frauds has also caused a lot of ICOs longer time than necessary to complete its token sales no matter how realistic the project might be.

Much ado about the talks that regulation will end decentralization. I don't believe so.

There has to be Global Regulatory Authority which all ICOs or crypto related project must pass due diligence test before even commencing any form of bounty and token sales.

I believe this will reduce greatly the frauds or scams and give more confidence in cryptocurrency, and consequently more investments.

What are your thoughts on this?