The SEC creates rules and has zero jurisdiction for criminal prosecution, they refer potential cases to DOJ. They probably lean on having air tight cases becau

The SEC creates rules and has zero jurisdiction for criminal prosecution, they refer potential cases to DOJ. They probably lean on having air tight cases because their opponents are better financially prepared to spend their way around any lawsuit/action. Also, the stock market cops are essentially FINRA (self policing non government company), SEC is the rule writer and hand slapper for the most part. I don't know how crypto regulations were supposed to be setup. If it was the same setup as SEC/FINRA where entities have to self-report data, then fraud would be somewhat easy.