On this week’s Breakdown weekly recap, NLW looks at a cross-section of regulatory news, including:

• CFTC and DOJ action against BitMEX and its leadership
• The U.K. Financial Conduct Authority’s ban of crypto derivative products for retail investors
• The DOJ’s new cryptocurrency enforcement framework 

NLW discusses why these might reflect a new moment in crypto history, what it means for current builders in bitcoin and DeFi, and why recruiting corporate allies like Square will become more important than ever.