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RE: BitConnect Closes Exchange After State Crackdown Over Unregulated Sales
This is one of the stains on the crypto industry although this has nothing to do with crypto....there are ponzi schemes in many different asset classes. Sadly, there were many on here defending bitconnect when the evidence pointed to it most likely being a ponzi scheme.
This could be one of the turning points in the crypto world although the feds might use it as an excuse to crack down with regulation.
This most certainly will be used by regulators for further crackdowns, they will be like - we are here to protect you, have you heard of bitconnect?
Sad, this will give sceptics a reason to be vocal.
I think they will use whatever they can to regulate the industry, they might not even give a reason