Regulators are well-aware this is a scam which is why they're afraid of regulating it: as soon as they say "put up or shut up" the whole things collapses. they dont want to be blamed for that collapse.
As for politicians, they're corrupt. Trump and his cabinet were scam artists (betsy devos the wife of the head of a pyramid scheme, etc.); and likewise senior figures in the dems have historically been deeply connected to pyramid schemes.
This will all go to zero. The fastest way there is anyone actually trying to use it for money.
At the moment, it's one closed-off casino with a handful of people gambling with each other -- that's the total amount which any of this tech can support.
Regulators are hoping it will collapse in on itself without prompting.
I think the only law required here is "do something useful for real people" -- with that law this entire ecosystem will collapse and be exposed for the inherent fraud it is.
I encourage anyone with assets here to divest, and never to promote any of this -- do not rope people into holding the bag.
