> In the aftermath of the collapse of FTX, authorities should resist the urge to create a parallel legal and regulatory framework for the crypto industry.

Agreed on not creating new frameworks, but...

> It is far better to do nothing, and just let crypto burn.

Is that like just letting every Bernie Madoff's scam run its course -- eventually retail investors and retirement funds will learn to stop investing in scams?

Crypto scammers seem to be loving the wait&see thus far.

Can't we just use the existing tools for dealing with investment scams, general fraud, etc., to take it all down?