Witnesses before the U.S. House of Agriculture Committee at a public hearing July 18 were unanimous in their view that digital assets complicate the hard and fast distinctions of existing regulatory frameworks.
A key takeaway from the hearing was that a given digital asset may shift its regulatory status as it transitions from one context to another, given the fluidity of the crypto ecosystem.
Both Gensler and Fairfield argued that when a digital token is marketed at a “pre-functional” moment in its development — i.e.
The SEC, for its part, could need 2-4 years to address the “thousands” of “noncompliant” actors in the ICO space, he said.
In mid-May, a U.S. House Subcommittee hearing on blockchain in supply chains concluded that the technology has a variety of applications, even without industry-wide standards.

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