We have changed law

The US Might Need A New Way To Regulate Cryptocurrencies

Regulator cannot keep up with the tech.  Law has changed, we no longer have custodial money, power of attorney lies with the human client.

The new law effects everything, Fintech especially.  Regulators have not grasped the change and will flounder.  The new concept is the client voluntarily complies by contract. If clients to not agree with government contract, then government chases client with shoe leather and leaves the sandbox out of the picture.

The client can agree to the government restriction and the pipeline control system can enforce a call to the government notary, like any other  personal contract.

Government failure to grasp the new reality is a huge economic risk.