Yes, I know. What I meant is I wish they would change the regulations to allow unregulated security tokens but have law enforcement more consistently go after scammers through "regular" laws (e.g. fraud law).

For example, the software market is largely unregulated. But if someone sets up a website and starts collecting payments for a non-existing software, they are committing fraud and should be prosecuted. I believe it should be similar with security tokens.

If you intentionally make false or deceitful claims about your business or run away with investment money, you are committing fraud and should be prosecuted.