You cannot get margin called on a cash account, because you cannot make positions that are not 100% collateral covered, unless you have 25k. Then you can do that, and trade more than 3 times a week (and don't have to wait til settlement)

Pension funds don't deserve to go bust, but shouldn't be bailed out if they fail to diversify their portfolio.

There are a lot more safe-gaurds in investing, because all these games have been played before.

But those require consent too - with crypto, someone can, and will, irrevocably steal your funds without possible recourse.

.. and indeed the UK and other countries have banned the OTC sale of particularly bad ones, such as binary options. There is some effort to prevent people selling overly fraudulent or risky products to the general public, even if it's leaky.

That wasn't the argument being made, like at all. Your argument is actually the one being made in bad faith.