Definition ∞ A regulatory lapse describes a situation where existing laws or rules fail to adequately cover a new technology or market activity. This creates a gap in oversight, potentially leading to uncertainty or unregulated practices. For digital assets, such lapses can arise due to their novel characteristics not fitting traditional financial definitions. These gaps often prompt calls for new legislation.
Context ∞ Regulatory lapses are a persistent challenge in the rapidly evolving digital asset space, as new innovations frequently emerge before clear rules are in place. A key discussion involves how to address these gaps effectively without stifling technological progress. Future regulatory actions aim to provide comprehensive frameworks that address digital asset activities across various jurisdictions.
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