[hectorr1]

I'm sure that most of securities law will apply, but there might be new opportunities provided by the tech that need to be worked out - for instance funding protocol development.

The innovation also might also shift political attention to some drawbacks with the current regulatory regime that could use updating - for instance the rather blunt instrument of the accredited investor regime, or the custodian requirement.

And the regulators will have to deal with changes to their own incentive structures - for instance the opportunity for regulatory arbitrage.

For all the mistrust of banks and regulators in Bitcoinland, having those institutions take you seriously is what winning looks like.