The collapse of cryptocurrency platform ftx, it's Boss going to trail this week, its one to follow up on, with regulators still seeking to get to grips with the sector.He is facing seven counts of fraud that could send him to decades in prison.
Top highlight is deviation of investors fund to prop up its investment arm Alameda.
The European Union meanwhile adopted its Markets in Crypto-Assets regulation this year for comprehensive oversight to protect investors and consumers alike.
The truth remains Bitcoin and crytocurrencies in general will someday all be regulated by Gov., or investors are likely to see there money disappear in a flash.
This is what happens when there is no regulations available. Any entity can divert investors money to do whatever they like. Sach kind of activities will be effectively discouraged if a formal regulation is available.
So when you say it's a warning sign I would say it's the need of the hour. By now we all understand that centralised exchanges play a big role in crypto economy. So the need of a regulation is still there.