Definition ∞ 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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