Fractionalized investments bring financial providers to the scene as regulators struggle with noncompliant crypto companies. : Henry Kravis, co-executive chairman and former co-chief executive officer of KKR & Co. LP, speaks at an event in Chicago, Illinois, in November 2013. As the U.S. Securities Exchange Commission (SEC) cracks down on noncompliant Wild West cryptocurrency firms, a new breed of blockchain application, created from the ground up to be securities, is emerging to meet demand.