I think the position of the SEC is that these companies should comply with the law. Which is what is said just a few seconds later. And that's the problem with slogans: we lose track of the wider issues.

The statement cracks me up. Without these exchanges, crypto would still be a small blip on the radar. It would continue to be nothing but a hobby for techies, libertarians, and techie libertarians, forever.

If it's ever going to become more than a playground for scam artists, the industry needs real leadership that doesn't just brush every scam away with a meme.

This is HN. Doesn't matter how correct you are - if you say it in form of a meme you'll get downvoted.