Crypto Chaos: Lava Game Without Light

In the US, crypto regulation mirrors a perilous game of "the floor is lava," as described by SEC Commissioner Hester Peirce. She claims firms are navigating crypto in darkness, jumping between unclear regulations to avoid direct contact with crypto assets, akin to avoiding molten floor in the game. This convoluted environment impedes the thriving of a robust crypto market. The SEC's current practices leave registrants in a regulatory limbo, urging the need for clear custodial guidance and regulations in the crypto space.