In the 16 years since Satoshi Nakamoto published the original Bitcoin whitepaper, U.S. regulators have failed to promulgate regulations to provide a clear legal framework for the burgeoning digital asset space. Congress has not stepped up to fill the gap. The result has been what many dub “regulation by enforcement” – lawsuits filed by the SEC and CFTC against industry participants for engaging in activity that is not clearly unlawful, leading to inconsistent, inefficient, and intermin
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