The statement wasn't that people using cryptocurrencies can't break the law. It's that blockchains solve this trust problem that exists in traditional finance.

The statement wasn't that people using cryptocurrencies can't break the law. It's that blockchains solve this trust problem that exists in traditional finance. Very obviously the regulation we have does not work, you don't have to look at exchanges to understand that. The very same problems exist in banking but most poor folks in developed countries don't notice since even if the funds are lost there is some insurance. You could have such insurance for crypto exchange funds as well, but ultimately the people are always paying the bill when their money gets "lost", whether they understand this or not. Insurance costs money. A better system would be a more transparent one where the money can not simply disappear in the first place.