As Regulators Seek to Rein in Crypto, Firms Might Need a Divided Congress to Save Them

Also, Canada wants U.S. to slow down in mandating faster settlements of stock trades; Crypto companies are very nervous about a soon-to-be released SEC proposal on who can custody funds' investments

The recent flurry of cryptocurrency enforcement activity has left many wondering if regulators are done listening to endless talk about parceling out oversight and which laws are best for policing (as SEC Chair Gary Gensler likes to say) a non-compliant industry. Questions like what’s a security, what’s a commodity and what’s a banking product may be ta…