Photo by Jonathan Raa/NurPhoto via Getty Images

NurPhoto via Getty Images

Regulatory frameworks continue to treat bitcoin and other cryptoassets as a single category, a decision that has shaped how digital asset policy is written, enforced, and interpreted across multiple jurisdictions. As regulatory approaches develop, the debate increasingly centers on regulatory design: how well existing frameworks map onto systems that differ fundamentally in structure, governance, and risk.

The persistence of a unified “cryptoasset” classification reflects how regulation often develops in response to emerging technologies. Early policy responses tend to prioritize speed, consistency, and administrative clarity, particularly when markets evolve…