The cryptoasset revolution benefitted greatly from the largess of the Federal Reserve System as the Fed tossed trillions of dollars into the financial system.Now, the Fed is tightening up on monetary policy and the cryptoasset market is feeling the other side of the Fed's actions.As a consequence, cryptoassets are suffering, lots and lots of money is being lost and regulators are moving more and more in the direction of greater regulation for the crypto world.This may be the tipping point in the regulation of this industry: and with the Fed just tightening, we are nowhere near the end of the pain.Industries do need to be regulated, and so it is good not to wait too long before the regulatory environment is introduced: regulation should be encouraged, but incrementally.
