kaal:claim:3117224-020

The United States was excluded from the comparative jurisdictional analysis because its regulatory setup for cryptocurrencies and DLT business was still too uncertain at the time of publication.

Source quote, verbatim
The regulatory setup for cryptocurrencies and DLT business was still too uncertain in the United States to be included in the below discussion at the time of publication of this article.
From

Wulf A. Kaal, Initial Coin Offerings The Top 25 Jurisdictions and Their Comparative Regulatory Responses (2018), IV. Regulatory Responses, p. 11
https://ssrn.com/abstract=3117224 · source PDF

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Wulf A. Kaal, Initial Coin Offerings The Top 25 Jurisdictions and Their Comparative Regulatory Responses (2018). SSRN: https://ssrn.com/abstract=3117224

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