Excerpt: Cryptocurrency’s widespread adoption is limited—in part—by an uncertain, still developing regulatory framework surrounding it. A growing number of state and federal regulatory and law enforcement agencies are taking an active role in regulating cryptocurrency, and perhaps even operating at cross-purposes. In particular, in the face of jurisdictional gaps at the federal level, state banking regulators historically played a significant role in regulating crypto. But, more recently, state attorneys general are taking a more active role in the cryptocurrency regulatory and enforcement landscape.
Cryptocurrency at a Regulatory Crossroads in New York