Lamborghinis, Ponzi Schemes, and Potemkin Villages: Here Come the SEC's Crypto Cops

Plus, what do gig workers want from the fintech world?

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Lamborghinis, Ponzi Schemes, and Potemkin Villages: Here Come the SEC's Crypto Cops

There is a giant, important and kind of boring question about how financial laws should be imposed on a nation: If you are a regulatory agency (eg, the Securities and Exchange Commission, or SEC) as opposed to a law-enforcement agency (eg, the Department of Justice), should you spend your time coming up with a thousand written regulations, so that companies have some kind of detailed guide about what to do and what not to do? Or should you go after the flashy offenders, to set a public example of what your understanding of the law expects?

This week the SEC came down rather hard on the flashy enforcement side of the question.