protecting the consumer or the big banks? (Score 1)

Crypto is a scam. Yes, there are definitely some shady charcters but wasn't the SEC supposed to protect "us" from Madoff? ". . .mastermind of the largest Ponzi scheme in history, worth about $64.8 billion. . ." https://en.wikipedia.org/wiki/... Maybe, the big banks and the Federal Reserve are worried about losing control. Change is not easy and rarely accepted openly. Trying to keep the status quo of the old money system and keep people in debt is how the banking and finance industry became rich and powerful.