[danaris]

So, what do you expect to happen? Cryptocurrency companies should just be allowed to run around doing whatever the hell they like until Congress, which is clearly dysfunctional ever since the Republican Party made it their mission to prevent the Democratic Party from doing anything ever again, manages to get some kind of regulation out? And how long do you expect that to take?

The only real alternative seems to be "no one is allowed to do anything with cryptocurrency until there are clear regulations around it."

I know which one of these I would prefer, given only these choices, and it's definitely not the one that enables massive fraud and grifting.

[p0pcult]

What do you expect to happen, the local Sheriff gets to enforce whatever "laws" s/he can make up, so long as they aren't explicitly approved activities?

[danaris]

No, I more or less expect what is happening: until and unless clearer laws come from Congress, regulatory agencies use their best judgement on how to apply existing regulations on things that are pretty close to what cryptocurrencies are, to prevent mass scams and fraud.