I didn't say Koreas punishment would be effectual at securing our markets either. My answer implied it is not equal to shrugging of shoulders. Your false dichotomy here is totally illogical.
So US putting scammer in jail... "ineffectual", but South Korea doing the same is effectual? Are US prisons that much cushier that South Korean prisons?
To be clear I think jailing foreign crypto scammers is ineffectual at securing US markets but more cathartic to victims than shrugging shoulders.
At the very least there seems to be little to no evidence it moves the needle.
If you asked me I'd say most effectual would be a combination of public announcements on avoiding crypto scams and a revival of banking secrecy with no kyc or AML, as that would steal massive capital from crypto markets and scammers.
