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The US has been leading the way in crypto adoption, having almost 60 million crypto holders (with the global number of crypto owners reaching 220 million) But how is it regulated and what legal challenges do businesses and crypto enthusiasts face? The US regulatory framework for fintech is extremely fragmented, with many controlling bodies being responsible for different financial areas. The major legal bodies define cryptocurrency a bit differently: for instance, the FinCEN states that crypto tokens are the “value that substitutes for currency,” while the IRS claims crypto to be “a digital representation of value”