While many people's initial reaction is 'OMG BUT WHO WILL PROTECT US FROM SCAMMERS!?" when you look into what the SEC has done, is charged those scammers with crimes that have nothing to do with being a security.
Meaning, any agency could do that. It just happens to fall on the SEC currently.
This is why many, including some US Congress members, and even some SEC officials, think making crypto an asset class of it's own, treated like a commodity (like gold and silver) and having the CFTC regulate it, could be a real solution to the mess we're in now.
What do you think?
Blockchain in Chains: It's Time To Strip The SEC Of Authority Over Cryptocurrency...Before you think this is an extreme view - you should know that members of the US Congress from both political parties, and even some of the SEC's own leadership agree - the SEC, and the regulations for trading securities are both the wrong agency, and wrong laws, to oversee the emerging cryptocurrency space.
Let's look at how we got to where we are now, what's going wrong, and the path we can take to correct it...
...CONTINUE @ https://www.globalcryptopress.com/2019/06/blockchain-in-chains-its-time-to-strip.html 
