[rvz]

That is why I said 98%. The SEC knows they cannot be banned completely and that isn't the point.

To say the SEC has been 'completely missing in action' sounds very dismissive, especially when one has been watching it during the peak of the hype cycle of 2017 and they did do something about the majority of ICOs back then. After that they have been investigating Ripple over its XRP token, and Coinbase if they have traded 'unregistered securities'.

As always and more generally, regulators will forever be behind this cat and mouse game.

[toolz]

defi ohm clones have been popping up like crazy the past few years that promised things like, and I'm not exaggerating here, 10000%+ apy...the SEC hasn't stopped anything of the sort and they'll never be able to with crypto.

Consumers need education, which the SEC has attempted to educate roughly no people whatsoever about these scams.

[dannyw]

I've been in crypto since 2016. There is more ICO fundraising in the latest cycle than 2018. DeFi is huge now.

[rvz]

> I've been in crypto since 2016.

This has no relevance to the discussion. I have been in since 2012 during the days of Ripple with their XRP coin, which that was before Ethereum was a thing and before the exchanges complied with regulations like AML/KYC.

> There is more ICO fundraising in the latest cycle than 2018.

Where is the source for this?

Even if you have one, there is a reason why ICOs now are doing KYC on their investors and avoiding giving these tokens and offerings to individuals in the US.

My point is, they are registering investors to comply with regulations in order to avoid going on the list of investigations [0] by the SEC and claiming that the SEC is doing 'completely nothing' about crypto since 2017 is dishonest. Especially when there are sources that have been posted that have contradicted the OP's absolutist claim.

[0] https://www.sec.gov/spotlight/cybersecurity-enforcement-acti...