For 2, it’s (still) not clear who the chief regulator for crypto should be. The SEC has tried at times to assert authority there with pushback all around. The

For 2, it’s (still) not clear who the chief regulator for crypto should be. The SEC has tried at times to assert authority there with pushback all around. The current legislative push is to make the CFTC the regulator. The CFTC both by mission and culture is more hands off. It’s also much smaller in size than the SEC so focuses on cases where the law is more obviously being broken (eg boiler rooms selling leveraged gold contracts as physical gold to senior homes). Crypto is a cutting edge area where the laws and regulators have not kept up and where until recently most of the participants liked it that way.