Wait, I thought cryptocurrencies aren't securities? Why are our tax dollars being spent investigating this? If they're not securities (like coinbase etc would like us to believe), then he didn't do anything wrong and there are no other rules - code is law. If they are securities, then why are there so many illegal exchanges operating in plain sight?
Once again, crypto folks are all about decentralization until someone outsmarts them, then they go crying to daddy government to bail them out.
This doesn't change the big picture but some are securities, some are commodities, and some are collectibles.
I'm not entirely sure what makes you think there's no financial regulation or laws you can break outside of securities trade, because there is and which is why he's charged with wire and commodities fraud, Hobbs Act extortion and money laundering.
Code is not law, the law is the law.