Few Congressmen from the USA wrote an open letter to the SEC, to make understandable, clear laws for trading cryptocurrencies. Right now, the trading of securities needs special permissions, a broker-dealer license, and many cryptocurrencies are considered as a security. The FINRA, the actual financial authority doing the licensing process, and give the permissions, but they working based on the SEC’s rules.
But the SEC didn’t build usable legal frameworks, so the FINRA can’t doing its work. In some cases, the applications are delayed more years, and then the bureau says to the applicants to withdraw their postulation.