It is time to enact some laws governing and regulating Crypto and this falls upon the Congress and they have not stepped up yet.  In light of the FTX melt down it seems to be time to enact some laws and interpret Crypto either as a security (stock) or as a commodity.  Since there is no regulation (which was the one of the cornerstone beliefs surrounding the whole industry) now with millions of investors losing billions of dollars the time is here to provide some leadership on the issue.  There is no getting the money back to most investors.  But possibly this can be prevented in the future if Congress was to make laws and rules.