Of course we need regulations. Sometimes this can be irritating, but in the rest of the cases rules are for our protection.
I do like to know the reason for these regulations,this is just shutting out the competition and imposing more tax from the people,how can the government protect you from these scams,will they go after them or will they restrict you from investing in those,if you think something is shady ,you better not invest in that and you do not need a government to restrict you from doing things.