The Securities and Exchange Commission is trying to regulate cryptocoins and coin exchanges nationally with position papers and enforcement actions, which is rather clumsy. This comes just as blockchain fever seems to have broken, being hyped less and less on earnings calls as people realize how little they understand it. Blockchain-enabled instruments and transactions are a truly new thing, and the statutes governing the SEC were never intended for them. It will be a long time before Congress passes blockchain-specific legislation, and Congress will never be able to act fast enough. Technology always evolves faster than applicable laws can be passed, and blockchain is morphing faster than most. For all those reasons, the SEC's efforts will remain imperfect and always late. But the States -- particularly New York and California -- are better positioned to enact regulations tailored to the realities of these new financial tools. Being where much of tech and finance is located, those States can act faster and more precisely than Congress or the SEC. 

In its press release,"Odeon Capital Group LLC Strengthens Equity Desk Research," the broker-dealer announced on December 7, 2016, its hire of Jahanara Nissar as an Equity Desk Analyst in Technology, Media and Telecommunications. Odeon was happy to have Nissar onboard. She had all the tools to make it on Wall Street and seemed headed in the right direction. Unfortunately, life is full of surprises. Some of which are quite nasty.