Crypto Legislation Could Free Industry of SEC Oversight—But Critics Warn It's a Pandora's Box

As crypto-related bills barrel through Congress with the ambitious goal of passage by August, the potential implications of that legislation are only beginning to crystallize.  One such bill, for instance, would seek to amend foundational U.S. securities laws to formally carve out most crypto assets from the definition of “security”—a bold move with little precedent in the history of Congress, at least since such laws were first written at the outset of the New Deal in the 1930s.  The bill, dubb...