Ripple asked the SEC to ensure consistent treatment of separated crypto assets defined under the SEC's proposed Regulation Crypto Assets across the Securities Act, Exchange Act, Investment Company Act, and Investment Advisers Act

How governments worldwide set rules for digital assets through legislation, agency rulemaking, licensing regimes and court fights.

Ongoing legal fight over which digital assets count as securities under investor-protection law and which are commodities, determining whether the SEC or CFTC oversees them.