According to China, the Western regulators are confused and unable to get organized:

https://www.forbes.com/sites/michaeldelcastillo/2018/06/07/us-cryptocurrency-regulators-show-unified-front-to-new-york-city-bar-lawyers/

State level regulation probably can’t nab the large weasels like EOS which lawyer up in the Caymans:

https://btcmanager.com/u-s-and-canada-launch-massive-cryptocurrency-fraud-probe-operation-crypto-sweep/

Again what I see is a massive bubble developing (EOS raised $4 billion) and then a lot of people burned when the next long duration crypto winter crash comes (2019?). I think that wipe out will increase the clamors for Congress to create a super regulator with super powers.

Again the powers-that-be have their fingerprints on this. It’s the Hegelian dialectic principle. Mastermind an extreme crisis which demands a solution that increases their top-down control.