Crypto News :
A series of legal actions taken against celebrities promoting various crypto assets highlights the confusing regulatory environment for the cryptocurrency industry in the US.
This raises the question of who is in charge and what constitutes a security versus a commodity in the eyes of regulators.
The lack of consensus between the Commodity Futures Trading Commission, the Securities and Exchange Commission, and the Federal Trade Commission creates headaches and confusion for those involved with cryptocurrencies.
This article argues that an overarching regulatory framework is needed to spell out the rules of the road, as the suspicion is growing that US authorities may be using unconstitutional means to stifle the industry.
If celebrities and entrepreneurs begin to promote cryptocurrencies abroad, Americans may miss out on the potential benefits of fostering Web3 and financial innovation at home.