The Crypto Economy Is Not a One to One Replacement for Traditional Stock Exchanges

crypto exchanges are not a one to one replacement for traditional stock exchanges. Instead, they are a one-to-one replacement for a huge number of intermediaries in the traditional financial world. This brings enormous benefits in terms of efficiencies and cost consumers but it is something that is fundamentally new and not reflected in existing statutes and regulations. A new framework for how we regulate digital assets will insure that in on can occur in ways that are not hampered by our legacy market structure.