Crypto and Blockchain Justice: A Look Back at 2023

According to CoinDesk, the year 2023 has been significant in the world of crypto and blockchain, particularly in bringing bad actors to justice. In November 2022, the largest fraud in crypto history was exposed, and many feared that those responsible would never be held accountable. However, by December 2023, numerous convictions, settlements, and record fines were imposed on bad actors, with many facing real prison time for stealing customer money, misusing it, or violating other laws. This progress has been crucial in laying the foundation for a better future and restoring consumer confidence in the crypto markets. While the pursuit of justice has been a major accomplishment, 2023 has also been a pivotal year in the history of blockchain for other reasons. Many critical developments have taken place, albeit largely invisible. For instance, Ethereum's triumph with the 'Merge' in 2022 was a culmination of years of work, and it took much of 2023 for everyone to adapt to the new environment. The explosion of Layer 2 traffic on Ethereum, which now exceeds Layer 1 traffic, also occurred this year. Furthermore, 2023 saw progress in regulatory developments, such as ETF applications and the legislative and regulatory details enabling the Markets In Crypto Assets (MiCA) legislation in Europe. Overall, 2023 has been an amazing and constructive year for the progress of blockchain and crypto, despite the challenges faced by the industry.