Some are curious if this meme coin will ever truly see a full Shiba and Dogecoin-like impact, although it’s already off to an impressive start.
GURA: Davidson also fears too much regulation could harm investors and entrepreneurs, but he thinks inaction is also a risk. Davidson says when he goes back to his district in Ohio, his constituents ask him when Congress is going to get around to setting ground rules.

Once they have a key, they can obtain and spend cryptocurrency. Without the key, the holder can’t spend or convert their cryptocurrency — rendering their holdings worthless unless and until the key is recovered.
The NYDFS is known for being especially rigorous in its approach to cryptocurrency businesses compared to other state regulators, requiring an exacting review of capital requirements and policies regarding money laundering, fraud, capitalization, consumer protection, and cybersecurity. It's an unpopular approach among many in the crypto industry, some of whom have even opted to pull business out of New York rather than bear the high cost of compliance.