Bitcoin has been gathered in easily digestible exchange-traded funds, and it trades at its highest level ever, with the broader cryptocurrency market valued at over two trillion dollars.... Skeptics and optimists agree that despite repeated predictions of its demise, cryptocurrencies have maintained their place. Assuming that the cryptocurrency industry is indeed here to stay (which is a safe bet), what is the tight regulatory framework that the United States has developed to protect investors and provide a structure for participants in this industry? A legal opinion of two thousand words on orange groves, written at a time when lobotomy was a common medical procedure performed by a judge born before women had the right to vote.

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