The entire point is that it is decentralized. There is no central authority that can step in. The crypto solution to “who watches the watchmen” is decentralization and no central authority. There are pros and cons to that; take it or leave it.
You can go trade stocks, bonds, commodities, all kinds of securities if you want that government protection. Stop trying to turn this into just another asset class.
I don’t need to be “protected” and have crypto be neutered because people can’t stop piling into ponzi schemes. Maybe the government should regulate multi-level marketing first.
All y’all are doing is making big finance capital’s argument for them. It’s embarrassing tbh.
It’s frauds and scams all day long in every sector in the economy. Stop being greedy or get rekt. No amount of govt regs will help that.