Bloomberg Editorial: Regulatory Conflict with Cryptocurrencies "Is the Best Thing to Happen to the Industry"

On May 2nd, Bloomberg published an editorial stating that the conflict between regulatory agencies and cryptocurrency is "the best thing that has ever happened to this industry." According to Bloomberg, the cryptocurrency regulation carried out by the SEC helps to eliminate bad actors from the market. "Such a framework will give the SEC and CFTC broad powers to quickly remove thousands of bad actors from the market." This will reduce fraudulent activities, and "with appropriate identification requirements, blockchain networks may even be more transparent and less conducive to crime than existing banking systems."