Crypto is dangerous nonsense and should be regulated like smoking, gambling, or pyramid schemes, not granted the dignity of regulation under US securities law
“But cryptocurrencies not securities; they are, to borrow a term from Bloomberg's Matt Levine, magic beans. .....the only cogent theory of their value is the greater fool theory. And magic beans are not the sort of thing the SEC should be regulating” https://www.ft.com/...
The SEC is wrong about crypto exchanges - really excellent, clear Unhedged column from @rbrtrmstrng cryptocurrencies should be regulated like smoking, gambling or pyramid schemes - “not be granted the dignity of regulation under securities law.” https://www.ft.com/...