> I thought the whole point of crypto currency was that it WASN'T regulated and so how is the government able to do this, let alone say this with any authority?

> I thought the whole point of crypto currency was that it WASN'T regulated and so how is the government able to do this, let alone say this with any authority? Because nerds have this assumption that judges are beep-boop robots whose processors can be overloaded by a logical paradox or One Weird Trick, Lawyers Hate Him, and they are not. The fact that it's "on a computer" means nothing to the judicial system. Just because they can't physically seize a pile of cash, or order a bank to transfer your balance doesn't mean that they can't make and enforce laws. They can order you to transfer money and if you refuse they'll throw your ass in jail for contempt. And they will not give a single fuck about "code is law" or the color of the fringe on the flag if you are trading in illegal securities. Crimes committed on a computer are still crimes. Seriously, judges are human beings and while the law is certainly technical, they're not going to be impressed by an obvious attempt to end-run around a law. In many situations, merely attempting to do so is itself a crime (f.ex structuring transactions). Do not fuck with the SEC. Screwing around with rich people's money is Serious Business.