The cryptocurrency industry is facing a growing crackdown from regulators around the world. In the US, the Securities and Exchange Commission (SEC) has been particularly aggressive in pursuing enforcement actions against crypto firms.
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It will not cause a massive FUD for the cryptocurrency market? Because before when FTX Exchange went down, the price of Bitcoin fell down massively, so I assume that the image of Bitcoin or any other cryptocurrency before became bad also for it.
I think what I can see about the cryptocurrency crackdown will just make the market clean and eliminate the entities that are playing the game unfair.