FTX, LUNA, Celsius, et al – a post-mortem 

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City AM

By Darren Parkin Making something illegal doesn’t prevent bad actors from breaking the law. It does not stop businesses such as FTX, LUNA, and Celsius from existing. It only stops good businesses from providing the public with better alternatives since it hinders the free market’s ability to make bad businesses unprofitable. Meanwhile, criminals can break the law. This has been the case in many areas such as the laws on drugs, sex, airport security, and financial crimes. Bureaucrats and lawmakers enable bad actors. US regulators initially made crypto derivatives illegal for crypto on the premi…

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