The reality of abundant misinformation, asymmetric information flows, and fraud in the digital asset space over the last few years as easily attracted the attention of most regulatory bodies in the United States and around the world. Investors and project leaders alike wonder how regulatory guidance and enforcement actions will play out over the coming years, and looking to history might provide some helpful color. Moreover, fitting an entirely new asset class into existing regulations isn't easy but neither is it impossible. And while entrepreneurs and regulators alike struggle to handle digital assets, enforcement against bad actors will not subside (if anything, it will increase) which will be a positive development for the entire cryptocurrency ecosystem.