There are two views about the problem of fraud in the crypto world: 1. Intermediaries should make up for the unintentional losses. 2. Let it play out as the c

There are two views about the problem of fraud in the crypto world: 1. Intermediaries should make up for the unintentional losses. 2. Let it play out as the crypto promised. It’s DiFi after all. There are no chargebacks, no insurance, no tracking, no government intervention. Suck up the losses and keep playing. For now, it’s #2. If and when regulations come for #1, then crypto would look a lot like the commodities market. Every person making a crypto transaction would likely also have to follow KYC procedures and submit ID and file W8/W9. There’s no free lunch.