> Law enforcement and courts aren't funded in a way that makes that effective

In the 1930s, the Congress realized that financial crimes were (a) prevalent, (b) serious and (c) difficult to investigate and prosecute. So it created the SEC [1]. Its specialists, with the budget, focus and mandate to pursue securities-related violations, have been effective (relative to pre-1930s finance).

Regulators make rules. They also enforce them. We have no top cop for technology. The costs of that gap are becoming apparent.