Governments that had long demurred on regulation are suddenly pressing for more oversight, while federal regulators and law enforcement have rolled out multiple civil and criminal investigations.
The crypto industry is calling this moment its “crypto winter.” They say it’s cyclical, much like a bear market for Wall Street — something that has happened before and will eventually blow over.
But experts say the ferocity and scale of this downturn could end up leading to more of an ice age.
“Where we are is at a deeply existential point for the industry,” said Yesha Yadav, a law professor at Vanderbilt University who closely follows…
