Regulated exchanges have in place a lot of measures to ensure transparency and protection of traders/investors including survailance systems which closely look

Regulated exchanges have in place a lot of measures to ensure transparency and protection of traders/investors including survailance systems which closely look at potential market manipulation. Currently no crypto exchange has such systems in place - even their matching engines are in question, as mentioned by the SEC. Given the amount of money that is traded every day at crypto exchanges the statement from SEC was expected, but they seem to think that the crypto markets are too important (too large) to go the Chinese way - to shut down crypto exchanges that do not comply with basic rules that all exchanges should follow. But maybe this is just a warning and they will do it later, who knows...