These same folks allow regular people to do options trading, invest in any individual stock and other forms of wild gambling all from the convenience of their phones (complete with fun animations!)
It's also rather difficult to actually recover losses in court in a civil case unless you're rich enough/the amount at stake is large enough to eat the losses in court fees/collections measures and still make a profit (winning a judgement does nothing if the losing party simply refuses to pay, at which point you have to engage the Sherrif/place liens on property/hire collections agencies/etc). Whether it should be that way or not, that's the reality. These same folks allow that system as well.
I'm more inclined to think the regulators will go the way of rich/those who make campaign contributions/those who can lobby. I wish we didn't live in that world, but we do. The evidence that we do has been unmistakable since 2008. So some of the scammier micro-cap coins might get regulated out of existence, but with Wall St taking an interest and plenty of wealthy people on board, crypto as a whole is going to stick around IMO.
It's also rather difficult to actually recover losses in court in a civil case unless you're rich enough/the amount at stake is large enough to eat the losses in court fees/collections measures and still make a profit (winning a judgement does nothing if the losing party simply refuses to pay, at which point you have to engage the Sherrif/place liens on property/hire collections agencies/etc). Whether it should be that way or not, that's the reality. These same folks allow that system as well.
I'm more inclined to think the regulators will go the way of rich/those who make campaign contributions/those who can lobby. I wish we didn't live in that world, but we do. The evidence that we do has been unmistakable since 2008. So some of the scammier micro-cap coins might get regulated out of existence, but with Wall St taking an interest and plenty of wealthy people on board, crypto as a whole is going to stick around IMO.