Catching The Bad Actors
2023 was good year for crypto. Thinking about the yea, it’s clear that it was a big year for progress in the world of crypto. Catching the bad faith actors was major achievement, which was crucial for crypto world. The biggest crypto fraud was exposed in November 2022. and, back then, lots of people were worried that those responsible would get away with it, especially because they had connections in politics. But by December 2023, we saw lots of arrests, settlements, and huge fines for the bad actors. Many of them are facing real prison time for ripping off customers or breaking the law.
Even though it might seem simple, this progress is a really big deal for setting things right in the future. Dealing with a company that’s a scam is really tough. They can promise things they’ll never deliver because they’re not planning on being honest. And it’s hard to sell services to companies that are breaking the rules because they always have an excuse for not wanting to follow them yet.
Getting justice also helps regular people feel more confident in the crypto markets. Even though prices went up a lot this year, not as many transactions happened as before. So, it’s really important to make people trust the markets and the places where they can buy crypto.
The 2023’s Big Moves
Looking beyond just catching the bad guys, 2023 wasn’t necessarily a year that everyone will remember as a big deal in blockchain history. But a lot of important stuff did happen, even if it wasn’t very obvious. Back in 2022, Ethereum had a big moment with the “Merge,” but the real impact of that happened in 2023. There was a huge increase in activity on Ethereum’s Layer 2, even more than on Layer 1. So, while Ethereum was the big winner in 2022, the real work to make it even better happened in 2023.
Similarly, people might look back at 2024 as the start of new rules for crypto and blockchains, with ETFs becoming a thing in the US and new laws in Europe. But a lot of the work to make that happen happened in 2023.
For those who follow crypto closely, 2023 was a big year of progress. Even though it’s been a tough year for business, I’m still optimistic. But if you’re not paying attention to all the work being done, you might have only heard about the criminals and arrests. If you know, you know.
