One doesn't need to go more than 2 feet into the mire of meme coins before finding the detritus of 6000000 rug pulls. Just that these guys never get prosecuted.

Yeah, but they're not playing with institutional money. They're not messing with people that have world-leaders on speed dial. Crypto gets away with what it does because when you enter an explicitly laissez-faire side of life, expect people to act laissez-faire. The rest is fraud/laundering/illicit activity tracking, which is why KYC requirements were passed right on schedule.