The SEC has put itself in a weird position.<p>On one hand, it claims the right to regulate crypto. But then it also refuses to actually do so. Aside from a few easy-win, barely crypto, high profile cases like the Kim Kardashian, they carefully avoid actually regulating AND loudly proclaim they are THE regulator.<p>Which is it?<p>I don't know. And one reason I don't know if that the SEC carefully avoids any court cases where "Is the SEC actually allowed to regulate crypto?" might be ruled on. That's their choice.<p>Another reason is the Congress (who really should answer this question) refuses to. So I don't want to lay all the blame at the SECs feet. Let's get real here, the SEC are the first group after FTX senior leaders themselves to blame. They have said so themselves. They investigated FTX and ... stopped despite it being their job? Missed a multi billion dollar fraud along with 1000s of other issues? Come on!