a great deal of immunity from any government’s law.
One of the most important aspects of the cryptoasset ecosystem is that it has a great deal of…
Daniel Goldman

If that was the case then crypto teams wouldn’t need to pay $500K in legal fees to launch tokens. Crypto devs wouldn’t need to go through 20 law firms just to find 5, and lose lots of money in the process.

Immunity from governmental oversight might be an aspiration for many crypto teams, but the decision to tap into established legal forms, processes, and institutions to do that was akin to inviting regulatory intervention.