As uncertainty looms over Binance's illustrious leader, it begs the question: why is the US out to cripple DeFi?
What prompts such a question is the manner in which the DOJ is conducting the prosecution. Despite the maximum sentence being 18 months for such violations, they are pushing for 36 months plus a $50 million fine as a means to deter future violators.
However, in retrospect, the violation CZ committed is but a blemish compared to the diabolical actions of US banks and regulatory negligence leading up to the 2008 financial crisis. Yet, back then, no regulatory body or banker was held accountable, let alone prosecuted. When will this hypocrisy end?