Is There a Legislative Regime for Cryptocurrency Regulation?

There has been this long running criticism of the way crypto regulation is being done. It's often just better to launch something and kind of ask for permission later, right? Like, just launch it, see what happens. But if you're a big crypto organization, with a team of lawyers, and you actually go and ask, yes, the securities regulators about what you're doing, often they just say, no outright? That's the trope. And because of how politics seems to be n d c, i don't think anyone's really holding their breath for like, some really clear law to get passed. The regulatory agencies don't seem to quite have their hands around it.