> But there were no rules before. The rules always were there. Just that the SEC was willing to turn a blind eye for years on this issue. The reason why SEC

> But there were no rules before. The rules always were there. Just that the SEC was willing to turn a blind eye for years on this issue. The reason why SEC couldn't ignore this anymore is FTX and SBF. It became clear that cryptocoins are full of fraudsters, and the cryptocoin community has absolutely no way to differentiate from the fraudsters and the legitimate groups. SEC is simply not in a position to keep turning a blind eye to the cryptocoin world after $10,000,000,000+ was stolen by FTX and SBF.