29 year old crypto billionaire says the crypto world must act more responsibly to show it doesn't need strict regulation, as he hits out at scammers

Crypto billionaire Sam Bankman-Fried has said the industry needs to act more responsibly.

He said scammers, in particular, were drawing regulatory scrutiny to the cryptocurrency industry.

Exchanges such as Bankman-Fried’s FTX are feeling the pressure as watchdogs tighten their grip.

Is regulation or the crypto industry a boon or a bane?