This is what happens when you attempt to rule, especially if you were never in exclusive control of your representation in the first place. Democracy is a lie.
Discussion
I haven't figured out where I stand on the unregistered securities. Should people be allowed to invest in them. Is the answer to come up with a bitcoin-only doctrine or to allow speculation.
I would imagine this would be a horrible reputation risk. I can't imagine wanting to be the next celebrity accused of stealing from fans.
The answer is the nonaggression principle. That's it. Anyone who knowingly consents to trading for a shitcoin may do so. Any violations of informed consent are fraud or theft of some kind or another and are punishable by a penalty. That's it. That's the answer. We don't need government for this.
I’m good with buyer beware, but I also think scammers should be shamed by good people.