It's fair to blame regulatory agencies and Congress for failure to properly oversee crypto. But the industry also needs to look to its own failings, says William Mougayar.
With Coinbase receiving a Wells Notice from the SEC, and the CFTC suing Binance, it feels like the crypto industry is at war with the U.S. government. This could get bad.
If the court rules that XRP is a security, it would mean the same for other alternative cryptocurrencies and subject the broader market to stringent supervision.