[Analysis] What could “decentralization” mean in the context of the law?

Legally, Bitcoin ($BTC) should be understood and defined as a decentralized asset due to its nature and inception. All aspects of Bitcoin, from mining to code maintenance to transactions are interwoven. Pegging a central authority is impossible. Bitcoin's inception was also decentralized, as its founder worked on the open-source code with others and then disappeared. Regulation must adhere to Bitcoin's nature.