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I think instead of taking the paternalistic Elizabeth Warren approach, of thinking you need to be the nanny here, it would be a lot more prudent were regulators to actually try and be the real cop on the market. They need more sticks and not more carrots. So, actually enforce for dumping on retail. Make sure market manipulation is something they’re able to – I hate the word “punish” – but try to rewrite the rules so it doesn’t happen, including on crypto exchanges. And maybe even look at market manipulation within different token sales, and actually say, “We’re willing to be the cop,” instead of, “Oh it’s a security, you’re all in the wrong.”
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