A statutory definition is a precise meaning assigned to a term by a legislative body through a formal law or statute. This definition provides legal clarity and establishes how the term should be understood and applied within a specific jurisdiction. For digital assets, statutory definitions are essential for regulatory certainty and market operation. They remove ambiguity in legal interpretations.
Context
The absence of clear statutory definitions for various digital assets remains a significant challenge for regulatory bodies and market participants globally. A key debate involves whether digital assets should be classified as securities, commodities, or a new category entirely. Future legislative efforts aim to provide comprehensive statutory definitions to foster legal clarity and market stability.
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