Regulating The Ether: Lessons For The MENA Digital Asset Industry From U.S. Enforcement Actions

In Short

The Situation: Regulators worldwide have taken varying approaches to define and shape the legal and regulatory landscape for digital assets. The United States has thus far largely relied on enforcement actions within its existing regulatory framework, and it has focused its attention on cryptocurrencies. The impact of U.S. enforcement ensnares people and organizations globally.

The Result: Regulatory gaps, the spectrum of approaches taken by global regulators, and the overlapping jurisdiction of enforcement agencies create a regulatory landscape that is complex and subject to constant change. Entities that have purposefully sought to avoid U.S. jurisdiction have nonetheless been subjected to U.S. enforcement action.