The Securities and Exchange Commission really looked for exchange loopholes, even when Poloniex was identified by the SEC, they had to pay a hefty $10 million fine.
“Poloniex prefers increasing profits over compliance with federal securities laws by listing digital asset securities on an unlisted exchange… Poloniex seeks to circumvent the SEC regulatory regime, which applies to any market to unite buyers and sellers of securities regardless of the technology is applied"
As difficult as it is to watch the SEC movements in all sectors of the stock exchange, we make it seem as if the SEC is not following up on Wall Street criminals. This is inseparable from Polonix's violation of compliance with applicable regulations. For the SEC everything is very easy to play, they can identify anything that conflicts with the SEC's desire to be the most authoritarian when it comes to transaction crimes.