[johndhi]

So your position is that the US Government intends to require every creator and trader of crypto to complete registration, notification, filing requirements with SEC? They pretty obviously don't want to enforce that or ask that of our populace. So we just get them enforcing whenever they want to (probably because Zhao is Chinese, basically).

[Animats]

Creator, yes. If you're an issuer and sell to US persons, you have to register the issue as a security. The SEC brings the hammer down on about two issuers a month. They're still working through the ICO boom of 2017-2019, and just getting started on the NFT boom of 2020-2021.[1]

The SEC is basically reactive. They usually take action after people complain that their money disappeared. So they're always behind.

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