Digital-asset market-structure principles prevent any single regulator from gaining comprehensive authority over digital assets

Quotes that support claims

The principles include setting up clear distinctions between digital securities and commodities and a shared regulatory structure that prevents an "all-encompassing" watchdog from emerging; establishing a "small package" of money-laundering protections that are "pro-innovation"; and encouraging the federal regulators to embrace "no-action guidance, sandboxes, safe harbors, coordination and appropriate application requirements."

Regulatory authority should be clearly allocated in statute, preventing an all-encompassing regulator from emerging.