Is There a Ton of Regulatory Guidance in Crypto?

Most financial innovations are domestic and institutional digital assets are global and largely retail. That has presented a regulatory challenge that we really haven't encountered before, which is trying to have global coordination across a new type of asset class at the retail level. I think you're actually starting to see more movement of late because government agencies have had some time now to understand crypto a little bit more. The FDIC approved regulations in May, clarifying that the agency's procedures for taking action against firms who make misleading claims about deposit insurance.