I don't have nor never have held any crypto currency and only follow the market with a passing interest and superficial knowledge (i.e. a long way of saying I don't know jack-shit when it comes to crypto) but I always figured that the tightening up of KYC would lead to an implosion of Eth, Bitcoin etc since they are traceable.
I further note that Monero seems to be doing ok-ish which is good news for those with funds already in the various block-chains.
The financial sanctions against Russian held funds and assets is causing a mad scramble to move funds out of exchanges (some of which are semi-fronts). After all, it happens to be a very convenient way of washing a few Billion.
The fly in the ointment is that the increased scrutiny from the various Fin-Regs is also shining a light on to those that use crypto (DNM's, Ransom-Ware Guys, Arms traders etc etc). Previously there was some degree of 'looking the other way' as long as the correct wheels were greased. The loss of Russian funds/backing is leaving a lot of exchanges' coffers looking rather threadbare. That the other sources of 'dark' money are getting jittery under the increased scrutiny means that this is going to end up in tears for a lot of exchanges.
But, but, but ... this will make the crypto market better.
How so? The barrier to entry for crypto is virtually nil. Those that fail can and probably will be resurrected (under a different name) the instant it appears profitable to do so.
Eventual failure is just an accepted part of the crypto business model. It means nothing because nothing was invested.
I further note that Monero seems to be doing ok-ish which is good news for those with funds already in the various block-chains.
The financial sanctions against Russian held funds and assets is causing a mad scramble to move funds out of exchanges (some of which are semi-fronts). After all, it happens to be a very convenient way of washing a few Billion.
The fly in the ointment is that the increased scrutiny from the various Fin-Regs is also shining a light on to those that use crypto (DNM's, Ransom-Ware Guys, Arms traders etc etc). Previously there was some degree of 'looking the other way' as long as the correct wheels were greased. The loss of Russian funds/backing is leaving a lot of exchanges' coffers looking rather threadbare. That the other sources of 'dark' money are getting jittery under the increased scrutiny means that this is going to end up in tears for a lot of exchanges.