THE SEC IS A TOTAL FAILURE
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The SEC is a total failure, it didn't protect against actual fraud companies like FTC. In fact, they cozied up to them, working with them to cut backroom deals. Instead, they go after companies like Coinbase, and Kraken. Companies that trying so hard to play by the rules. SEC commissioner Esther Peirce who has been a dissenting voice on the SEC approach to crypto said entrepreneurs to come in and register or else they will be sued. Coinbase Brian Armstrong just met with the UK Finance Minister. It's very clear that many countries are very much ready to welcome the cryptocurrency industry to their Shores.
The cryptocurrency industry in the United States stands out to lose big time. Coinbase is saying that they might even leave the United States if there is no clear regulation given. Remember that they are currently being sued by the SEC because they would refuse to give them clear regulations. It would be such a big loss for the US if Coinbase leave. Totally different from what we are seeing in the UK, from the land of freedom where financial regulators refused to even just tell anyone what the rules are.