Compound General Counsel: Hope Regulators Can Help Fight Scams in Crypto

On February 3rd, Compound general counsel Jake Chervinsky tweeted the following opinion: Most cryptocurrency policy issues are complicated by the rapid development and change of technology. It is difficult for us to formulate concrete solutions and believe that they will make sense in a few years. The best thing regulators can do now is go after the real bad actors: fraud and scammers. Unlike the traditional financial system, the amazing thing about cryptocurrencies is that fraud and scams are transparent and can be observed by everyone. We can see them happening in real time. The crypto community completed in a few hours (for free) investigations that took years for law enforcement. Nobody hates crypto scammers more than we do. No one who cares about this technology wants to see criminals use it to deceive victims. Our best hope is that regulators will protect investors by catching the perpetrators. I wish there were more resources for