![F618BDD8-A6FD-448C-8808-69E91A0EB441.jpeg](https://steemitimages.com/DQmY1Ky8jtPzMBV61z5MpgGckXd5sfgJcoKeKaPnxgaV5qx/F618BDD8-A6FD-448C-8808-69E91A0EB441.jpeg)

The key message is :

“As we saw with the development of the Internet, we cannot put the technology genie back in the bottle. Virtual currencies mark a paradigm shift in how we think about payments, traditional financial processes, and engaging in economic activity. Ignoring these developments will not make them go away, nor is it a responsible regulatory response.”

[SEC and CFTC Hearing: More Legitimate ICOs or “If There Was No Bitcoin, There Would Be No Blockchain](https://cointelegraph.com/news/sec-and-cftc-hearing-more-legitimate-icos-or-if-there-was-no-bitcoin-there-would-be-no-blockchain)

So crypto community the message is - keep innovating but also keep fraudster away from the space. Even better if community develops mechanisms to track them so that they can easily be handed over to legal authorities.

I call upon steemians To continuously write on crypto frauds that they come to know. Let us make steem a platform where people can reliably know what is fraud and what is genuine.