As long as the SEC (and the rest of the US government) limits itself to going after solely fraud, that might be ok. But inherently falling under US law means b

As long as the SEC (and the rest of the US government) limits itself to going after solely fraud, that might be ok. But inherently falling under US law means being controlled by the US government and that is exactly the OPPOSITE of what crypto is meant to be about. If you have to do KYC, trade only with approved counter-parties, pay fees and taxes not due in your actual location, and be subject to US sanctions and US decisions what is the point of any of this?