The SEC has charged Terraform Labs with alleged’multi-billion dollar’ cryptocurrency fraud

The SEC’s allegations are just the latest in a series of actions taken by some of the crypto industry’s most prominent players to combat suspected fraud. While authorities have primarily focused on investigating FTX and its creator Sam Bankman-Fried in connection with that exchange’s collapse, former Celsius Network CEO Alex Mashinsky is also under suspicion of defrauding investors. It is clear that governments are seeking improved enforcement of financial regulations in the cryptocurrency industry, even though the future of cryptocurrency remains uncertain.