Decentralized Players in Cryptocurrency

The whole point of crypto in some ways was you know trust nobody and You know decentralization is the key, but here what we see is a lot of people were tricked into trusting FTX. The centralized players should be regulated already like kind of traditional financial service businesses But they don't have the the regulation clear when it comes to the crypto aspects. In the US we actually don't still have clarity about what is a commodity? What's the security should which one should CFTC regulator versus SEC that kind of thing.