When you read crypto-related indictments, it shows how little is novel about crypto scams. They're almost all scams that were known in the 19th century, or earlier. There are Ponzi schemes. There are pumps and dumps. There are fake assets. There are bucket shops. The classic fraud of just stealing the assets in the customer accounts remains popular.

Bloomberg points out that the SEC, the CFTC, the FTC, and the Justice Department seem to have arrived at a common position that it's just good old-fashioned crime. It can be dealt with by following the money and putting people in jail.