id	sid	tid	token	lemma	pos
iiclr-27370	1	1	indiana	indiana	PROPN
iiclr-27370	1	2	int’l	int’l	NUM
iiclr-27370	1	3	&	&	CCONJ
iiclr-27370	1	4	comp	comp	PROPN
iiclr-27370	1	5	.	.	PUNCT
iiclr-27370	2	1	law	law	NOUN
iiclr-27370	2	2	review	review	NOUN
iiclr-27370	2	3	volume	volume	NOUN
iiclr-27370	2	4	33	33	NUM
iiclr-27370	2	5	number	number	NOUN
iiclr-27370	2	6	1	1	NUM
iiclr-27370	2	7	2023	2023	NUM
iiclr-27370	2	8	notes	note	VERB
iiclr-27370	2	9	the	the	DET
iiclr-27370	2	10	wild	wild	ADJ
iiclr-27370	2	11	west	west	NOUN
iiclr-27370	2	12	,	,	PUNCT
iiclr-27370	2	13	cryptocurrency	cryptocurrency	NOUN
iiclr-27370	2	14	,	,	PUNCT
iiclr-27370	2	15	and	and	CCONJ
iiclr-27370	2	16	singapore	singapore	PROPN
iiclr-27370	2	17	:	:	PUNCT
iiclr-27370	2	18	why	why	SCONJ
iiclr-27370	2	19	the	the	DET
iiclr-27370	2	20	united	united	PROPN
iiclr-27370	2	21	states	states	PROPN
iiclr-27370	2	22	should	should	AUX
iiclr-27370	2	23	follow	follow	VERB
iiclr-27370	2	24	singapore	singapore	PROPN
iiclr-27370	2	25	’s	’s	PART
iiclr-27370	2	26	lead	lead	NOUN
iiclr-27370	2	27	in	in	ADP
iiclr-27370	2	28	cryptocurrency	cryptocurrency	NOUN
iiclr-27370	2	29	regulation	regulation	NOUN
iiclr-27370	2	30	s.	s.	PROPN
iiclr-27370	2	31	isaac	isaac	PROPN
iiclr-27370	2	32	brown	brown	PROPN
iiclr-27370	2	33	*	*	PROPN
iiclr-27370	2	34	introduction	introduction	NOUN
iiclr-27370	2	35	“	"	PUNCT
iiclr-27370	2	36	right	right	ADV
iiclr-27370	2	37	now	now	ADV
iiclr-27370	2	38	,	,	PUNCT
iiclr-27370	2	39	we	we	PRON
iiclr-27370	2	40	just	just	ADV
iiclr-27370	2	41	do	do	AUX
iiclr-27370	2	42	n’t	not	PART
iiclr-27370	2	43	have	have	VERB
iiclr-27370	2	44	enough	enough	ADJ
iiclr-27370	2	45	investor	investor	NOUN
iiclr-27370	2	46	protection	protection	NOUN
iiclr-27370	2	47	in	in	ADP
iiclr-27370	2	48	crypto	crypto	NOUN
iiclr-27370	2	49	.	.	PUNCT
iiclr-27370	3	1	frankly	frankly	ADV
iiclr-27370	3	2	,	,	PUNCT
iiclr-27370	3	3	at	at	ADP
iiclr-27370	3	4	this	this	DET
iiclr-27370	3	5	time	time	NOUN
iiclr-27370	3	6	,	,	PUNCT
iiclr-27370	3	7	it	it	PRON
iiclr-27370	3	8	’s	’	VERB
iiclr-27370	3	9	more	more	ADV
iiclr-27370	3	10	like	like	ADP
iiclr-27370	3	11	the	the	DET
iiclr-27370	3	12	wild	wild	ADJ
iiclr-27370	3	13	west	west	NOUN
iiclr-27370	3	14	.	.	PUNCT
iiclr-27370	4	1	”1	”1	VERB
iiclr-27370	4	2	for	for	ADP
iiclr-27370	4	3	many	many	ADJ
iiclr-27370	4	4	americans	americans	PROPN
iiclr-27370	4	5	,	,	PUNCT
iiclr-27370	4	6	references	reference	NOUN
iiclr-27370	4	7	to	to	ADP
iiclr-27370	4	8	“	"	PUNCT
iiclr-27370	4	9	the	the	DET
iiclr-27370	4	10	wild	wild	ADJ
iiclr-27370	4	11	west	west	NOUN
iiclr-27370	4	12	”	"	PUNCT
iiclr-27370	4	13	recalls	recall	VERB
iiclr-27370	4	14	vivid	vivid	ADJ
iiclr-27370	4	15	imagery	imagery	NOUN
iiclr-27370	4	16	of	of	ADP
iiclr-27370	4	17	the	the	DET
iiclr-27370	4	18	exploits	exploit	NOUN
iiclr-27370	4	19	of	of	ADP
iiclr-27370	4	20	legendary	legendary	ADJ
iiclr-27370	4	21	outlaws	outlaw	NOUN
iiclr-27370	4	22	like	like	ADP
iiclr-27370	4	23	jesse	jesse	PROPN
iiclr-27370	4	24	james	james	PROPN
iiclr-27370	4	25	and	and	CCONJ
iiclr-27370	4	26	billy	billy	ADV
iiclr-27370	4	27	the	the	DET
iiclr-27370	4	28	kid.2	kid.2	PROPN
iiclr-27370	4	29	indeed	indeed	ADV
iiclr-27370	4	30	,	,	PUNCT
iiclr-27370	4	31	the	the	DET
iiclr-27370	4	32	wild	wild	ADJ
iiclr-27370	4	33	west	west	NOUN
iiclr-27370	4	34	,	,	PUNCT
iiclr-27370	4	35	a	a	DET
iiclr-27370	4	36	colloquial	colloquial	ADJ
iiclr-27370	4	37	term	term	NOUN
iiclr-27370	4	38	used	use	VERB
iiclr-27370	4	39	to	to	PART
iiclr-27370	4	40	describe	describe	VERB
iiclr-27370	4	41	the	the	DET
iiclr-27370	4	42	western	western	ADJ
iiclr-27370	4	43	american	american	ADJ
iiclr-27370	4	44	states	state	NOUN
iiclr-27370	4	45	during	during	ADP
iiclr-27370	4	46	the	the	DET
iiclr-27370	4	47	period	period	NOUN
iiclr-27370	4	48	between	between	ADP
iiclr-27370	4	49	1849	1849	NUM
iiclr-27370	4	50	and	and	CCONJ
iiclr-27370	4	51	the	the	DET
iiclr-27370	4	52	dawn	dawn	NOUN
iiclr-27370	4	53	of	of	ADP
iiclr-27370	4	54	the	the	DET
iiclr-27370	4	55	twentieth	twentieth	ADJ
iiclr-27370	4	56	century	century	NOUN
iiclr-27370	4	57	,	,	PUNCT
iiclr-27370	4	58	has	have	AUX
iiclr-27370	4	59	historically	historically	ADV
iiclr-27370	4	60	been	be	AUX
iiclr-27370	4	61	characterized	characterize	VERB
iiclr-27370	4	62	by	by	ADP
iiclr-27370	4	63	gun	gun	NOUN
iiclr-27370	4	64	duels	duel	NOUN
iiclr-27370	4	65	,	,	PUNCT
iiclr-27370	4	66	outlaws	outlaw	NOUN
iiclr-27370	4	67	,	,	PUNCT
iiclr-27370	4	68	and	and	CCONJ
iiclr-27370	4	69	a	a	DET
iiclr-27370	4	70	general	general	ADJ
iiclr-27370	4	71	aura	aura	NOUN
iiclr-27370	4	72	of	of	ADP
iiclr-27370	4	73	lawlessness.3	lawlessness.3	PROPN
iiclr-27370	4	74	similarly	similarly	ADV
iiclr-27370	4	75	,	,	PUNCT
iiclr-27370	4	76	“	"	PUNCT
iiclr-27370	4	77	[	[	X
iiclr-27370	4	78	cryptocurrency	cryptocurrency	NOUN
iiclr-27370	4	79	]	]	PUNCT
iiclr-27370	4	80	is	be	AUX
iiclr-27370	4	81	rife	rife	ADJ
iiclr-27370	4	82	with	with	ADP
iiclr-27370	4	83	fraud	fraud	NOUN
iiclr-27370	4	84	,	,	PUNCT
iiclr-27370	4	85	scams	scam	NOUN
iiclr-27370	4	86	,	,	PUNCT
iiclr-27370	4	87	and	and	CCONJ
iiclr-27370	4	88	abuse	abuse	NOUN
iiclr-27370	4	89	in	in	ADP
iiclr-27370	4	90	certain	certain	ADJ
iiclr-27370	4	91	applications	application	NOUN
iiclr-27370	4	92	.	.	PUNCT
iiclr-27370	5	1	there	there	PRON
iiclr-27370	5	2	’s	’	VERB
iiclr-27370	5	3	a	a	DET
iiclr-27370	5	4	great	great	ADJ
iiclr-27370	5	5	deal	deal	NOUN
iiclr-27370	5	6	of	of	ADP
iiclr-27370	5	7	hype	hype	NOUN
iiclr-27370	5	8	and	and	CCONJ
iiclr-27370	5	9	spin	spin	VERB
iiclr-27370	5	10	about	about	ADP
iiclr-27370	5	11	how	how	SCONJ
iiclr-27370	5	12	crypto	crypto	ADJ
iiclr-27370	5	13	assets	asset	NOUN
iiclr-27370	5	14	work	work	VERB
iiclr-27370	5	15	.	.	PUNCT
iiclr-27370	6	1	in	in	ADP
iiclr-27370	6	2	many	many	ADJ
iiclr-27370	6	3	cases	case	NOUN
iiclr-27370	6	4	,	,	PUNCT
iiclr-27370	6	5	investors	investor	NOUN
iiclr-27370	6	6	[	[	X
iiclr-27370	6	7	are	be	AUX
iiclr-27370	6	8	not	not	PART
iiclr-27370	6	9	]	]	PUNCT
iiclr-27370	6	10	able	able	ADJ
iiclr-27370	6	11	to	to	PART
iiclr-27370	6	12	get	get	VERB
iiclr-27370	6	13	rigorous	rigorous	ADJ
iiclr-27370	6	14	,	,	PUNCT
iiclr-27370	6	15	balanced	balanced	ADJ
iiclr-27370	6	16	,	,	PUNCT
iiclr-27370	6	17	and	and	CCONJ
iiclr-27370	6	18	complete	complete	ADJ
iiclr-27370	6	19	information	information	NOUN
iiclr-27370	6	20	.	.	PUNCT
iiclr-27370	6	21	”4	”4	PUNCT
iiclr-27370	7	1	thus	thus	ADV
iiclr-27370	7	2	,	,	PUNCT
iiclr-27370	7	3	it	it	PRON
iiclr-27370	7	4	is	be	AUX
iiclr-27370	7	5	easy	easy	ADJ
iiclr-27370	7	6	to	to	PART
iiclr-27370	7	7	see	see	VERB
iiclr-27370	7	8	why	why	SCONJ
iiclr-27370	7	9	gary	gary	PROPN
iiclr-27370	7	10	gensler	gensler	NOUN
iiclr-27370	7	11	,	,	PUNCT
iiclr-27370	7	12	the	the	DET
iiclr-27370	7	13	chair	chair	NOUN
iiclr-27370	7	14	of	of	ADP
iiclr-27370	7	15	the	the	DET
iiclr-27370	7	16	securities	securities	PROPN
iiclr-27370	7	17	and	and	CCONJ
iiclr-27370	7	18	exchange	exchange	PROPN
iiclr-27370	7	19	commission	commission	PROPN
iiclr-27370	7	20	(	(	PUNCT
iiclr-27370	7	21	sec	sec	PROPN
iiclr-27370	7	22	)	)	PUNCT
iiclr-27370	7	23	compared	compare	VERB
iiclr-27370	7	24	the	the	DET
iiclr-27370	7	25	american	american	PROPN
iiclr-27370	7	26	*	*	PUNCT
iiclr-27370	7	27	best	good	ADJ
iiclr-27370	7	28	student	student	NOUN
iiclr-27370	7	29	note	note	NOUN
iiclr-27370	7	30	—	—	PUNCT
iiclr-27370	7	31	s.	s.	PROPN
iiclr-27370	7	32	isaac	isaac	PROPN
iiclr-27370	7	33	brown	brown	PROPN
iiclr-27370	7	34	,	,	PUNCT
iiclr-27370	7	35	j.d	j.d	PROPN
iiclr-27370	7	36	.	.	PROPN
iiclr-27370	7	37	candidate	candidate	NOUN
iiclr-27370	7	38	of	of	ADP
iiclr-27370	7	39	2023	2023	NUM
iiclr-27370	7	40	,	,	PUNCT
iiclr-27370	7	41	indiana	indiana	PROPN
iiclr-27370	7	42	university	university	PROPN
iiclr-27370	7	43	—	—	PUNCT
iiclr-27370	7	44	robert	robert	PROPN
iiclr-27370	7	45	h.	h.	PROPN
iiclr-27370	7	46	mckinney	mckinney	PROPN
iiclr-27370	7	47	school	school	PROPN
iiclr-27370	7	48	of	of	ADP
iiclr-27370	7	49	law	law	NOUN
iiclr-27370	7	50	,	,	PUNCT
iiclr-27370	7	51	indianapolis	indianapolis	PROPN
iiclr-27370	7	52	,	,	PUNCT
iiclr-27370	7	53	indiana	indiana	PROPN
iiclr-27370	7	54	,	,	PUNCT
iiclr-27370	7	55	usc	usc	PROPN
iiclr-27370	7	56	;	;	PUNCT
iiclr-27370	7	57	bachelor	bachelor	NOUN
iiclr-27370	7	58	of	of	ADP
iiclr-27370	7	59	science	science	NOUN
iiclr-27370	7	60	in	in	ADP
iiclr-27370	7	61	law	law	NOUN
iiclr-27370	7	62	and	and	CCONJ
iiclr-27370	7	63	public	public	ADJ
iiclr-27370	7	64	policy	policy	NOUN
iiclr-27370	7	65	,	,	PUNCT
iiclr-27370	7	66	june	june	PROPN
iiclr-27370	7	67	2020	2020	NUM
iiclr-27370	7	68	,	,	PUNCT
iiclr-27370	7	69	indiana	indiana	PROPN
iiclr-27370	7	70	university	university	PROPN
iiclr-27370	7	71	,	,	PUNCT
iiclr-27370	7	72	bloomington	bloomington	PROPN
iiclr-27370	7	73	,	,	PUNCT
iiclr-27370	7	74	indiana	indiana	PROPN
iiclr-27370	7	75	,	,	PUNCT
iiclr-27370	7	76	usa	usa	PROPN
iiclr-27370	7	77	.	.	PUNCT
iiclr-27370	8	1	i	i	PRON
iiclr-27370	8	2	would	would	AUX
iiclr-27370	8	3	like	like	VERB
iiclr-27370	8	4	to	to	PART
iiclr-27370	8	5	thank	thank	VERB
iiclr-27370	8	6	my	my	PRON
iiclr-27370	8	7	advisor	advisor	NOUN
iiclr-27370	8	8	,	,	PUNCT
iiclr-27370	8	9	professor	professor	NOUN
iiclr-27370	8	10	nicholas	nicholas	PROPN
iiclr-27370	8	11	georgakopolous	georgakopolous	PROPN
iiclr-27370	8	12	,	,	PUNCT
iiclr-27370	8	13	for	for	ADP
iiclr-27370	8	14	his	his	PRON
iiclr-27370	8	15	feedback	feedback	NOUN
iiclr-27370	8	16	during	during	ADP
iiclr-27370	8	17	the	the	DET
iiclr-27370	8	18	course	course	NOUN
iiclr-27370	8	19	of	of	ADP
iiclr-27370	8	20	my	my	PRON
iiclr-27370	8	21	notedrafting	notedrafting	NOUN
iiclr-27370	8	22	.	.	PUNCT
iiclr-27370	9	1	i	i	PRON
iiclr-27370	9	2	would	would	AUX
iiclr-27370	9	3	also	also	ADV
iiclr-27370	9	4	like	like	VERB
iiclr-27370	9	5	to	to	PART
iiclr-27370	9	6	thank	thank	VERB
iiclr-27370	9	7	the	the	DET
iiclr-27370	9	8	editing	edit	VERB
iiclr-27370	9	9	staff	staff	NOUN
iiclr-27370	9	10	of	of	ADP
iiclr-27370	9	11	the	the	DET
iiclr-27370	9	12	indiana	indiana	PROPN
iiclr-27370	9	13	international	international	PROPN
iiclr-27370	9	14	&	&	CCONJ
iiclr-27370	9	15	comparative	comparative	ADJ
iiclr-27370	9	16	law	law	NOUN
iiclr-27370	9	17	review	review	NOUN
iiclr-27370	9	18	.	.	PUNCT
iiclr-27370	10	1	1	1	X
iiclr-27370	10	2	.	.	X
iiclr-27370	10	3	gary	gary	PROPN
iiclr-27370	10	4	gensler	gensler	PROPN
iiclr-27370	10	5	,	,	PUNCT
iiclr-27370	10	6	chair	chair	NOUN
iiclr-27370	10	7	,	,	PUNCT
iiclr-27370	10	8	sec	sec	PROPN
iiclr-27370	10	9	,	,	PUNCT
iiclr-27370	10	10	remarks	remark	VERB
iiclr-27370	10	11	before	before	ADP
iiclr-27370	10	12	the	the	DET
iiclr-27370	10	13	aspen	aspen	PROPN
iiclr-27370	10	14	security	security	NOUN
iiclr-27370	10	15	forum	forum	NOUN
iiclr-27370	10	16	(	(	PUNCT
iiclr-27370	10	17	aug	aug	PROPN
iiclr-27370	10	18	.	.	PROPN
iiclr-27370	10	19	3	3	NUM
iiclr-27370	10	20	,	,	PUNCT
iiclr-27370	10	21	2021	2021	NUM
iiclr-27370	10	22	)	)	PUNCT
iiclr-27370	10	23	,	,	PUNCT
iiclr-27370	10	24	https://www.sec.gov/news/public-statement/gensler-aspen-security-forum-2021-08-03	https://www.sec.gov/news/public-statement/gensler-aspen-security-forum-2021-08-03	PROPN
iiclr-27370	11	1	[	[	X
iiclr-27370	11	2	https://perma.cc/9amm-h7r7	https://perma.cc/9amm-h7r7	X
iiclr-27370	11	3	]	]	X
iiclr-27370	11	4	.	.	PUNCT
iiclr-27370	12	1	2	2	X
iiclr-27370	12	2	.	.	X
iiclr-27370	12	3	lesley	lesley	PROPN
iiclr-27370	12	4	kennedy	kennedy	PROPN
iiclr-27370	12	5	,	,	PUNCT
iiclr-27370	12	6	5	5	NUM
iiclr-27370	12	7	legendary	legendary	ADJ
iiclr-27370	12	8	wild	wild	ADJ
iiclr-27370	12	9	west	west	NOUN
iiclr-27370	12	10	outlaws	outlaws	PROPN
iiclr-27370	12	11	,	,	PUNCT
iiclr-27370	12	12	hist	hist	PROPN
iiclr-27370	12	13	.	.	PROPN
iiclr-27370	12	14	channel	channel	PROPN
iiclr-27370	12	15	(	(	PUNCT
iiclr-27370	12	16	nov	nov	PROPN
iiclr-27370	12	17	.	.	PROPN
iiclr-27370	12	18	18	18	NUM
iiclr-27370	12	19	,	,	PUNCT
iiclr-27370	12	20	2020	2020	NUM
iiclr-27370	12	21	)	)	PUNCT
iiclr-27370	12	22	,	,	PUNCT
iiclr-27370	12	23	https://www.history.com/news/famous-wild-west-outlaws-billy-the-kid-jesse-james-butch-cassidy	https://www.history.com/news/famous-wild-west-outlaws-billy-the-kid-jesse-james-butch-cassidy	VERB
iiclr-27370	12	24	[	[	PRON
iiclr-27370	12	25	https://perma.cc/33tk-nc68	https://perma.cc/33tk-nc68	NOUN
iiclr-27370	12	26	]	]	X
iiclr-27370	12	27	.	.	PUNCT
iiclr-27370	13	1	3	3	X
iiclr-27370	13	2	.	.	X
iiclr-27370	13	3	see	see	VERB
iiclr-27370	13	4	the	the	DET
iiclr-27370	13	5	wild	wild	ADJ
iiclr-27370	13	6	west	west	NOUN
iiclr-27370	13	7	,	,	PUNCT
iiclr-27370	13	8	encyclopedia.com	encyclopedia.com	X
iiclr-27370	13	9	,	,	PUNCT
iiclr-27370	13	10	https://www.encyclopedia.com/history/	https://www.encyclopedia.com/history/	ADP
iiclr-27370	13	11	encyclopedias	encyclopedia	NOUN
iiclr-27370	13	12	-	-	PUNCT
iiclr-27370	13	13	almanacs	almanac	NOUN
iiclr-27370	13	14	-	-	PUNCT
iiclr-27370	13	15	transcripts	transcript	NOUN
iiclr-27370	13	16	-	-	PUNCT
iiclr-27370	13	17	and	and	CCONJ
iiclr-27370	13	18	-	-	PUNCT
iiclr-27370	13	19	maps	map	NOUN
iiclr-27370	13	20	/	/	SYM
iiclr-27370	13	21	wild	wild	NOUN
iiclr-27370	13	22	-	-	PUNCT
iiclr-27370	13	23	west-0	west-0	PROPN
iiclr-27370	14	1	[	[	X
iiclr-27370	14	2	https://perma.cc/4q6k-u6de	https://perma.cc/4q6k-u6de	X
iiclr-27370	14	3	]	]	X
iiclr-27370	14	4	.	.	PUNCT
iiclr-27370	15	1	4	4	X
iiclr-27370	15	2	.	.	X
iiclr-27370	15	3	gensler	gensler	NOUN
iiclr-27370	15	4	,	,	PUNCT
iiclr-27370	15	5	supra	supra	PROPN
iiclr-27370	15	6	note	note	NOUN
iiclr-27370	15	7	1	1	NUM
iiclr-27370	15	8	.	.	SYM
iiclr-27370	15	9	192	192	NUM
iiclr-27370	15	10	indiana	indiana	PROPN
iiclr-27370	15	11	int’l	int’l	NOUN
iiclr-27370	15	12	&	&	CCONJ
iiclr-27370	15	13	comp	comp	PROPN
iiclr-27370	15	14	.	.	PUNCT
iiclr-27370	16	1	law	law	NOUN
iiclr-27370	16	2	review	review	NOUN
iiclr-27370	16	3	[	[	X
iiclr-27370	16	4	vol	vol	NOUN
iiclr-27370	16	5	.	.	PUNCT
iiclr-27370	16	6	33:191	33:191	NUM
iiclr-27370	16	7	cryptocurrency	cryptocurrency	NOUN
iiclr-27370	16	8	industry	industry	NOUN
iiclr-27370	16	9	to	to	ADP
iiclr-27370	16	10	the	the	DET
iiclr-27370	16	11	wild	wild	ADJ
iiclr-27370	16	12	west.5	west.5	NOUN
iiclr-27370	16	13	on	on	ADP
iiclr-27370	16	14	one	one	NUM
iiclr-27370	16	15	hand	hand	NOUN
iiclr-27370	16	16	,	,	PUNCT
iiclr-27370	16	17	gensler	gensler	NOUN
iiclr-27370	16	18	is	be	AUX
iiclr-27370	16	19	correct	correct	ADJ
iiclr-27370	16	20	:	:	PUNCT
iiclr-27370	16	21	cryptocurrency	cryptocurrency	NOUN
iiclr-27370	16	22	holders	holder	NOUN
iiclr-27370	16	23	within	within	ADP
iiclr-27370	16	24	the	the	DET
iiclr-27370	16	25	united	united	PROPN
iiclr-27370	16	26	states	state	NOUN
iiclr-27370	16	27	are	be	AUX
iiclr-27370	16	28	currently	currently	ADV
iiclr-27370	16	29	plagued	plague	VERB
iiclr-27370	16	30	by	by	ADP
iiclr-27370	16	31	consumer	consumer	NOUN
iiclr-27370	16	32	hazards.6	hazards.6	PROPN
iiclr-27370	16	33	however	however	ADV
iiclr-27370	16	34	,	,	PUNCT
iiclr-27370	16	35	many	many	ADJ
iiclr-27370	16	36	cryptocurrency	cryptocurrency	NOUN
iiclr-27370	16	37	holders	holder	NOUN
iiclr-27370	16	38	have	have	AUX
iiclr-27370	16	39	weathered	weather	VERB
iiclr-27370	16	40	these	these	DET
iiclr-27370	16	41	hazards	hazard	NOUN
iiclr-27370	16	42	to	to	PART
iiclr-27370	16	43	lay	lay	VERB
iiclr-27370	16	44	claim	claim	NOUN
iiclr-27370	16	45	to	to	ADP
iiclr-27370	16	46	a	a	DET
iiclr-27370	16	47	stake	stake	NOUN
iiclr-27370	16	48	in	in	ADP
iiclr-27370	16	49	the	the	DET
iiclr-27370	16	50	cryptocurrency	cryptocurrency	NOUN
iiclr-27370	16	51	market	market	NOUN
iiclr-27370	16	52	,	,	PUNCT
iiclr-27370	16	53	which	which	PRON
iiclr-27370	16	54	has	have	AUX
iiclr-27370	16	55	been	be	AUX
iiclr-27370	16	56	dubbed	dub	VERB
iiclr-27370	16	57	a	a	DET
iiclr-27370	16	58	“	"	PUNCT
iiclr-27370	16	59	digital	digital	ADJ
iiclr-27370	16	60	goldrush	goldrush	NOUN
iiclr-27370	16	61	.	.	PUNCT
iiclr-27370	16	62	”7	”7	X
iiclr-27370	17	1	coincidentally	coincidentally	ADV
iiclr-27370	17	2	,	,	PUNCT
iiclr-27370	17	3	the	the	DET
iiclr-27370	17	4	wild	wild	ADJ
iiclr-27370	17	5	western	western	ADJ
iiclr-27370	17	6	frontier	frontier	NOUN
iiclr-27370	17	7	was	be	AUX
iiclr-27370	17	8	born	bear	VERB
iiclr-27370	17	9	out	out	ADP
iiclr-27370	17	10	of	of	ADP
iiclr-27370	17	11	the	the	DET
iiclr-27370	17	12	california	california	PROPN
iiclr-27370	17	13	gold	gold	NOUN
iiclr-27370	17	14	rush	rush	NOUN
iiclr-27370	17	15	of	of	ADP
iiclr-27370	17	16	1849	1849	NUM
iiclr-27370	17	17	,	,	PUNCT
iiclr-27370	17	18	when	when	SCONJ
iiclr-27370	17	19	hundreds	hundred	NOUN
iiclr-27370	17	20	of	of	ADP
iiclr-27370	17	21	thousands	thousand	NOUN
iiclr-27370	17	22	of	of	ADP
iiclr-27370	17	23	people	people	NOUN
iiclr-27370	17	24	moved	move	VERB
iiclr-27370	17	25	to	to	ADP
iiclr-27370	17	26	the	the	DET
iiclr-27370	17	27	western	western	ADJ
iiclr-27370	17	28	area	area	NOUN
iiclr-27370	17	29	of	of	ADP
iiclr-27370	17	30	the	the	DET
iiclr-27370	17	31	united	united	PROPN
iiclr-27370	17	32	states	states	PROPN
iiclr-27370	17	33	in	in	ADP
iiclr-27370	17	34	pursuit	pursuit	NOUN
iiclr-27370	17	35	of	of	ADP
iiclr-27370	17	36	a	a	DET
iiclr-27370	17	37	chance	chance	NOUN
iiclr-27370	17	38	to	to	PART
iiclr-27370	17	39	strike	strike	VERB
iiclr-27370	17	40	gold	gold	NOUN
iiclr-27370	17	41	and	and	CCONJ
iiclr-27370	17	42	secure	secure	VERB
iiclr-27370	17	43	untold	untold	ADJ
iiclr-27370	17	44	riches.8	riches.8	PROPN
iiclr-27370	17	45	the	the	DET
iiclr-27370	17	46	cryptocurrency	cryptocurrency	NOUN
iiclr-27370	17	47	industry	industry	NOUN
iiclr-27370	17	48	,	,	PUNCT
iiclr-27370	17	49	too	too	ADV
iiclr-27370	17	50	,	,	PUNCT
iiclr-27370	17	51	is	be	AUX
iiclr-27370	17	52	something	something	PRON
iiclr-27370	17	53	of	of	ADP
iiclr-27370	17	54	a	a	DET
iiclr-27370	17	55	goldrush	goldrush	PROPN
iiclr-27370	17	56	opportunity	opportunity	NOUN
iiclr-27370	17	57	to	to	PART
iiclr-27370	17	58	pursue	pursue	VERB
iiclr-27370	17	59	untold	untold	ADJ
iiclr-27370	17	60	riches	rich	NOUN
iiclr-27370	17	61	.	.	PUNCT
iiclr-27370	18	1	in	in	ADP
iiclr-27370	18	2	2021	2021	NUM
iiclr-27370	18	3	,	,	PUNCT
iiclr-27370	18	4	twelve	twelve	NUM
iiclr-27370	18	5	of	of	ADP
iiclr-27370	18	6	the	the	DET
iiclr-27370	18	7	people	people	NOUN
iiclr-27370	18	8	listed	list	VERB
iiclr-27370	18	9	on	on	ADP
iiclr-27370	18	10	the	the	DET
iiclr-27370	18	11	forbes	forbes	PROPN
iiclr-27370	18	12	billionaires	billionaires	PROPN
iiclr-27370	18	13	list	list	NOUN
iiclr-27370	18	14	were	be	AUX
iiclr-27370	18	15	“	"	PUNCT
iiclr-27370	18	16	crypto	crypto	NOUN
iiclr-27370	18	17	billionaires	billionaire	NOUN
iiclr-27370	18	18	.	.	PUNCT
iiclr-27370	18	19	”9	”9	PUNCT
iiclr-27370	18	20	moreover	moreover	ADV
iiclr-27370	18	21	,	,	PUNCT
iiclr-27370	18	22	as	as	ADP
iiclr-27370	18	23	of	of	ADP
iiclr-27370	18	24	november	november	PROPN
iiclr-27370	18	25	2021	2021	NUM
iiclr-27370	18	26	,	,	PUNCT
iiclr-27370	18	27	the	the	DET
iiclr-27370	18	28	two	two	NUM
iiclr-27370	18	29	cryptocurrencies	cryptocurrencie	NOUN
iiclr-27370	18	30	with	with	ADP
iiclr-27370	18	31	the	the	DET
iiclr-27370	18	32	highest	high	ADJ
iiclr-27370	18	33	market	market	NOUN
iiclr-27370	18	34	caps	cap	NOUN
iiclr-27370	18	35	,	,	PUNCT
iiclr-27370	18	36	bitcoin	bitcoin	NOUN
iiclr-27370	18	37	and	and	CCONJ
iiclr-27370	18	38	ethereum	ethereum	NOUN
iiclr-27370	18	39	,	,	PUNCT
iiclr-27370	18	40	had	have	AUX
iiclr-27370	18	41	grown	grow	VERB
iiclr-27370	18	42	exponentially	exponentially	ADV
iiclr-27370	18	43	since	since	SCONJ
iiclr-27370	18	44	their	their	PRON
iiclr-27370	18	45	inceptions	inception	NOUN
iiclr-27370	18	46	,	,	PUNCT
iiclr-27370	18	47	with	with	ADP
iiclr-27370	18	48	the	the	DET
iiclr-27370	18	49	price	price	NOUN
iiclr-27370	18	50	of	of	ADP
iiclr-27370	18	51	a	a	DET
iiclr-27370	18	52	bitcoin	bitcoin	NOUN
iiclr-27370	18	53	increasing	increase	VERB
iiclr-27370	18	54	9,000,000	9,000,000	NUM
iiclr-27370	18	55	%	%	NOUN
iiclr-27370	18	56	between	between	ADP
iiclr-27370	18	57	2010	2010	NUM
iiclr-27370	18	58	and	and	CCONJ
iiclr-27370	18	59	2020	2020	NUM
iiclr-27370	18	60	and	and	CCONJ
iiclr-27370	18	61	the	the	DET
iiclr-27370	18	62	price	price	NOUN
iiclr-27370	18	63	of	of	ADP
iiclr-27370	18	64	ethereum	ethereum	NOUN
iiclr-27370	18	65	growing	grow	VERB
iiclr-27370	18	66	from	from	ADP
iiclr-27370	18	67	31	31	NUM
iiclr-27370	18	68	cents	cent	NOUN
iiclr-27370	18	69	per	per	ADP
iiclr-27370	18	70	coin	coin	NOUN
iiclr-27370	18	71	in	in	ADP
iiclr-27370	18	72	2014	2014	NUM
iiclr-27370	18	73	to	to	ADP
iiclr-27370	18	74	$	$	SYM
iiclr-27370	18	75	4,379	4,379	NUM
iiclr-27370	18	76	per	per	ADP
iiclr-27370	18	77	coin	coin	NOUN
iiclr-27370	18	78	in	in	ADP
iiclr-27370	18	79	may	may	PROPN
iiclr-27370	18	80	2021.10	2021.10	NUM
iiclr-27370	18	81	to	to	PART
iiclr-27370	18	82	put	put	VERB
iiclr-27370	18	83	this	this	PRON
iiclr-27370	18	84	into	into	ADP
iiclr-27370	18	85	perspective	perspective	NOUN
iiclr-27370	18	86	,	,	PUNCT
iiclr-27370	18	87	an	an	DET
iiclr-27370	18	88	investment	investment	NOUN
iiclr-27370	18	89	of	of	ADP
iiclr-27370	18	90	$	$	SYM
iiclr-27370	18	91	1	1	NUM
iiclr-27370	18	92	in	in	ADP
iiclr-27370	18	93	bitcoin	bitcoin	NOUN
iiclr-27370	18	94	in	in	ADP
iiclr-27370	18	95	2010	2010	NUM
iiclr-27370	18	96	would	would	AUX
iiclr-27370	18	97	have	have	AUX
iiclr-27370	18	98	been	be	AUX
iiclr-27370	18	99	worth	worth	ADJ
iiclr-27370	18	100	$	$	SYM
iiclr-27370	18	101	9,000,000	9,000,000	NUM
iiclr-27370	18	102	in	in	ADP
iiclr-27370	18	103	2020	2020	NUM
iiclr-27370	18	104	,	,	PUNCT
iiclr-27370	18	105	while	while	SCONJ
iiclr-27370	18	106	a	a	DET
iiclr-27370	18	107	$	$	SYM
iiclr-27370	18	108	1	1	NUM
iiclr-27370	18	109	investment	investment	NOUN
iiclr-27370	18	110	in	in	ADP
iiclr-27370	18	111	ethereum	ethereum	NOUN
iiclr-27370	18	112	in	in	ADP
iiclr-27370	18	113	2014	2014	NUM
iiclr-27370	18	114	would	would	AUX
iiclr-27370	18	115	have	have	AUX
iiclr-27370	18	116	been	be	AUX
iiclr-27370	18	117	worth	worth	ADJ
iiclr-27370	18	118	approximately	approximately	ADV
iiclr-27370	18	119	$	$	SYM
iiclr-27370	18	120	13,270	13,270	NUM
iiclr-27370	18	121	in	in	ADP
iiclr-27370	18	122	may	may	PROPN
iiclr-27370	18	123	2021	2021	NUM
iiclr-27370	18	124	.	.	PUNCT
iiclr-27370	19	1	many	many	ADJ
iiclr-27370	19	2	sharp	sharp	ADJ
iiclr-27370	19	3	similarities	similarity	NOUN
iiclr-27370	19	4	undoubtedly	undoubtedly	ADV
iiclr-27370	19	5	exist	exist	VERB
iiclr-27370	19	6	between	between	ADP
iiclr-27370	19	7	the	the	DET
iiclr-27370	19	8	wild	wild	ADJ
iiclr-27370	19	9	west	west	NOUN
iiclr-27370	19	10	and	and	CCONJ
iiclr-27370	19	11	cryptocurrency	cryptocurrency	NOUN
iiclr-27370	19	12	.	.	PUNCT
iiclr-27370	20	1	the	the	DET
iiclr-27370	20	2	wild	wild	ADJ
iiclr-27370	20	3	western	western	ADJ
iiclr-27370	20	4	era	era	NOUN
iiclr-27370	20	5	came	come	VERB
iiclr-27370	20	6	about	about	ADP
iiclr-27370	20	7	in	in	ADP
iiclr-27370	20	8	the	the	DET
iiclr-27370	20	9	wake	wake	NOUN
iiclr-27370	20	10	of	of	ADP
iiclr-27370	20	11	the	the	DET
iiclr-27370	20	12	california	california	PROPN
iiclr-27370	20	13	gold	gold	NOUN
iiclr-27370	20	14	rush	rush	NOUN
iiclr-27370	20	15	,	,	PUNCT
iiclr-27370	20	16	which	which	PRON
iiclr-27370	20	17	caused	cause	VERB
iiclr-27370	20	18	an	an	DET
iiclr-27370	20	19	influx	influx	NOUN
iiclr-27370	20	20	of	of	ADP
iiclr-27370	20	21	thousands	thousand	NOUN
iiclr-27370	20	22	of	of	ADP
iiclr-27370	20	23	people	people	NOUN
iiclr-27370	20	24	to	to	PART
iiclr-27370	20	25	move	move	VERB
iiclr-27370	20	26	to	to	ADP
iiclr-27370	20	27	the	the	DET
iiclr-27370	20	28	region.11	region.11	NOUN
iiclr-27370	20	29	this	this	DET
iiclr-27370	20	30	vast	vast	ADJ
iiclr-27370	20	31	migration	migration	NOUN
iiclr-27370	20	32	,	,	PUNCT
iiclr-27370	20	33	combined	combine	VERB
iiclr-27370	20	34	with	with	ADP
iiclr-27370	20	35	a	a	DET
iiclr-27370	20	36	lack	lack	NOUN
iiclr-27370	20	37	of	of	ADP
iiclr-27370	20	38	adequate	adequate	ADJ
iiclr-27370	20	39	regulation	regulation	NOUN
iiclr-27370	20	40	,	,	PUNCT
iiclr-27370	20	41	were	be	AUX
iiclr-27370	20	42	instrumental	instrumental	ADJ
iiclr-27370	20	43	factors	factor	NOUN
iiclr-27370	20	44	in	in	ADP
iiclr-27370	20	45	the	the	DET
iiclr-27370	20	46	wild	wild	ADJ
iiclr-27370	20	47	western	western	ADJ
iiclr-27370	20	48	frontier	frontier	NOUN
iiclr-27370	20	49	gaining	gain	VERB
iiclr-27370	20	50	a	a	DET
iiclr-27370	20	51	reputation	reputation	NOUN
iiclr-27370	20	52	as	as	ADP
iiclr-27370	20	53	a	a	DET
iiclr-27370	20	54	land	land	NOUN
iiclr-27370	20	55	of	of	ADP
iiclr-27370	20	56	outlaws	outlaw	NOUN
iiclr-27370	20	57	and	and	CCONJ
iiclr-27370	20	58	lawlessness.12	lawlessness.12	NOUN
iiclr-27370	20	59	parallels	parallel	NOUN
iiclr-27370	20	60	can	can	AUX
iiclr-27370	20	61	be	be	AUX
iiclr-27370	20	62	drawn	draw	VERB
iiclr-27370	20	63	to	to	ADP
iiclr-27370	20	64	the	the	DET
iiclr-27370	20	65	emergence	emergence	NOUN
iiclr-27370	20	66	of	of	ADP
iiclr-27370	20	67	the	the	DET
iiclr-27370	20	68	cryptocurrency	cryptocurrency	NOUN
iiclr-27370	20	69	industry	industry	NOUN
iiclr-27370	20	70	.	.	PUNCT
iiclr-27370	21	1	just	just	ADV
iiclr-27370	21	2	as	as	SCONJ
iiclr-27370	21	3	people	people	NOUN
iiclr-27370	21	4	were	be	AUX
iiclr-27370	21	5	drawn	draw	VERB
iiclr-27370	21	6	to	to	ADP
iiclr-27370	21	7	the	the	DET
iiclr-27370	21	8	wild	wild	ADJ
iiclr-27370	21	9	west	west	NOUN
iiclr-27370	21	10	for	for	ADP
iiclr-27370	21	11	the	the	DET
iiclr-27370	21	12	opportunity	opportunity	NOUN
iiclr-27370	21	13	to	to	PART
iiclr-27370	21	14	gain	gain	VERB
iiclr-27370	21	15	wealth	wealth	NOUN
iiclr-27370	21	16	and	and	CCONJ
iiclr-27370	21	17	change	change	VERB
iiclr-27370	21	18	their	their	PRON
iiclr-27370	21	19	lives	life	NOUN
iiclr-27370	21	20	,	,	PUNCT
iiclr-27370	21	21	many	many	ADJ
iiclr-27370	21	22	people	people	NOUN
iiclr-27370	21	23	—	—	PUNCT
iiclr-27370	21	24	approximately	approximately	ADV
iiclr-27370	21	25	40	40	NUM
iiclr-27370	21	26	million	million	NUM
iiclr-27370	21	27	americans	americans	PROPN
iiclr-27370	21	28	by	by	ADP
iiclr-27370	21	29	some	some	DET
iiclr-27370	21	30	estimates	estimate	NOUN
iiclr-27370	21	31	—	—	PUNCT
iiclr-27370	21	32	have	have	AUX
iiclr-27370	21	33	been	be	AUX
iiclr-27370	21	34	drawn	draw	VERB
iiclr-27370	21	35	to	to	PART
iiclr-27370	21	36	crypto	crypto	VERB
iiclr-27370	21	37	for	for	ADP
iiclr-27370	21	38	the	the	DET
iiclr-27370	21	39	5	5	NUM
iiclr-27370	21	40	.	.	PUNCT
iiclr-27370	22	1	i	i	PRON
iiclr-27370	22	2	d.	d.	PROPN
iiclr-27370	22	3	6	6	NUM
iiclr-27370	22	4	.	.	PUNCT
iiclr-27370	22	5	dante	dante	PROPN
iiclr-27370	22	6	alighieri	alighieri	PROPN
iiclr-27370	22	7	disparte	disparte	PROPN
iiclr-27370	22	8	,	,	PUNCT
iiclr-27370	22	9	beware	beware	NOUN
iiclr-27370	22	10	of	of	ADP
iiclr-27370	22	11	crypto	crypto	NOUN
iiclr-27370	22	12	risks	risk	NOUN
iiclr-27370	22	13	–	–	PUNCT
iiclr-27370	22	14	10	10	NUM
iiclr-27370	22	15	risks	risk	NOUN
iiclr-27370	22	16	to	to	PART
iiclr-27370	22	17	watch	watch	VERB
iiclr-27370	22	18	,	,	PUNCT
iiclr-27370	22	19	forbes	forbes	PROPN
iiclr-27370	22	20	(	(	PUNCT
iiclr-27370	22	21	july	july	PROPN
iiclr-27370	22	22	21	21	NUM
iiclr-27370	22	23	,	,	PUNCT
iiclr-27370	22	24	2018	2018	NUM
iiclr-27370	22	25	,	,	PUNCT
iiclr-27370	22	26	5:34	5:34	NUM
iiclr-27370	22	27	pm	pm	NOUN
iiclr-27370	22	28	edt	edt	PROPN
iiclr-27370	22	29	)	)	PUNCT
iiclr-27370	22	30	.	.	PUNCT
iiclr-27370	23	1	https://www.forbes.com/sites/dantedisparte/2018/07/21/beware-of-cryptorisks-10-risks-to-watch/?sh=1a4378de5f17	https://www.forbes.com/sites/dantedisparte/2018/07/21/beware-of-cryptorisks-10-risks-to-watch/?sh=1a4378de5f17	PROPN
iiclr-27370	24	1	[	[	X
iiclr-27370	24	2	https://perma.cc/7y5k-8kwy	https://perma.cc/7y5k-8kwy	PROPN
iiclr-27370	24	3	]	]	X
iiclr-27370	24	4	.	.	PUNCT
iiclr-27370	25	1	7	7	X
iiclr-27370	25	2	.	.	X
iiclr-27370	25	3	john	john	PROPN
iiclr-27370	25	4	hyatt	hyatt	PROPN
iiclr-27370	25	5	,	,	PUNCT
iiclr-27370	25	6	the	the	DET
iiclr-27370	25	7	cryptocurrency	cryptocurrency	NOUN
iiclr-27370	25	8	tycoons	tycoon	NOUN
iiclr-27370	25	9	on	on	ADP
iiclr-27370	25	10	forbes	forbes	PROPN
iiclr-27370	25	11	’	'	PUNCT
iiclr-27370	25	12	2021	2021	NUM
iiclr-27370	25	13	billionaires	billionaire	NOUN
iiclr-27370	25	14	list	list	NOUN
iiclr-27370	25	15	,	,	PUNCT
iiclr-27370	25	16	forbes	forbes	PROPN
iiclr-27370	25	17	(	(	PUNCT
iiclr-27370	25	18	apr	apr	PROPN
iiclr-27370	25	19	.	.	PROPN
iiclr-27370	25	20	6	6	NUM
iiclr-27370	25	21	,	,	PUNCT
iiclr-27370	25	22	2021	2021	NUM
iiclr-27370	25	23	,	,	PUNCT
iiclr-27370	25	24	6:00	6:00	NUM
iiclr-27370	25	25	am	am	NOUN
iiclr-27370	25	26	edt	edt	PROPN
iiclr-27370	25	27	)	)	PUNCT
iiclr-27370	25	28	https://www.forbes.com/sites/johnhyatt/2021/04/06/the-crypto	https://www.forbes.com/sites/johnhyatt/2021/04/06/the-crypto	VERB
iiclr-27370	25	29	currency	currency	NOUN
iiclr-27370	25	30	-	-	PUNCT
iiclr-27370	25	31	tycoons	tycoon	NOUN
iiclr-27370	25	32	-	-	PUNCT
iiclr-27370	25	33	on	on	ADP
iiclr-27370	25	34	-	-	PUNCT
iiclr-27370	25	35	forbes-2021	forbes-2021	ADJ
iiclr-27370	25	36	-	-	PUNCT
iiclr-27370	25	37	billionaires	billionaire	NOUN
iiclr-27370	25	38	-	-	PUNCT
iiclr-27370	25	39	list/?sh=5aadd2cc25e2	list/?sh=5aadd2cc25e2	NOUN
iiclr-27370	26	1	[	[	X
iiclr-27370	26	2	https://perma.cc/dn5b4ng5	https://perma.cc/dn5b4ng5	NOUN
iiclr-27370	26	3	]	]	X
iiclr-27370	26	4	.	.	PUNCT
iiclr-27370	27	1	8	8	X
iiclr-27370	27	2	.	.	X
iiclr-27370	28	1	the	the	DET
iiclr-27370	28	2	california	california	PROPN
iiclr-27370	28	3	gold	gold	PROPN
iiclr-27370	28	4	rush	rush	NOUN
iiclr-27370	28	5	,	,	PUNCT
iiclr-27370	28	6	pbs	pbs	PROPN
iiclr-27370	28	7	,	,	PUNCT
iiclr-27370	28	8	https://www.pbs.org/wgbh/americanexperience/features/	https://www.pbs.org/wgbh/americanexperience/features/	PROPN
iiclr-27370	28	9	goldrush	goldrush	PROPN
iiclr-27370	28	10	-	-	PUNCT
iiclr-27370	28	11	california/	california/	PROPN
iiclr-27370	29	1	[	[	X
iiclr-27370	29	2	https://perma.cc/df9y-btj7	https://perma.cc/df9y-btj7	X
iiclr-27370	29	3	]	]	X
iiclr-27370	29	4	.	.	PUNCT
iiclr-27370	30	1	9	9	NUM
iiclr-27370	30	2	.	.	X
iiclr-27370	30	3	hyatt	hyatt	PROPN
iiclr-27370	30	4	,	,	PUNCT
iiclr-27370	30	5	supra	supra	PROPN
iiclr-27370	30	6	note	note	NOUN
iiclr-27370	30	7	7	7	NUM
iiclr-27370	30	8	.	.	NOUN
iiclr-27370	30	9	10	10	NUM
iiclr-27370	30	10	.	.	PUNCT
iiclr-27370	31	1	bitcoin	bitcoin	NOUN
iiclr-27370	31	2	price	price	NOUN
iiclr-27370	31	3	,	,	PUNCT
iiclr-27370	31	4	coindesk	coindesk	NOUN
iiclr-27370	31	5	,	,	PUNCT
iiclr-27370	31	6	https://www.coindesk.com/price/bitcoin/	https://www.coindesk.com/price/bitcoin/	PROPN
iiclr-27370	32	1	[	[	X
iiclr-27370	32	2	https://perma.cc/	https://perma.cc/	VERB
iiclr-27370	32	3	f5kp-9a75	f5kp-9a75	X
iiclr-27370	32	4	]	]	X
iiclr-27370	32	5	(	(	PUNCT
iiclr-27370	32	6	stating	state	VERB
iiclr-27370	32	7	that	that	SCONJ
iiclr-27370	32	8	bitcoin	bitcoin	ADJ
iiclr-27370	32	9	price	price	NOUN
iiclr-27370	32	10	increased	increase	VERB
iiclr-27370	32	11	by	by	ADP
iiclr-27370	32	12	9,000,000	9,000,000	NUM
iiclr-27370	32	13	percent	percent	NOUN
iiclr-27370	32	14	from	from	ADP
iiclr-27370	32	15	2010	2010	NUM
iiclr-27370	32	16	to	to	ADP
iiclr-27370	32	17	2020	2020	NUM
iiclr-27370	32	18	)	)	PUNCT
iiclr-27370	32	19	;	;	PUNCT
iiclr-27370	32	20	ether	ether	NOUN
iiclr-27370	32	21	price	price	NOUN
iiclr-27370	32	22	,	,	PUNCT
iiclr-27370	32	23	coindesk	coindesk	NOUN
iiclr-27370	32	24	,	,	PUNCT
iiclr-27370	32	25	https://www.coindesk.com/price/ethereum/	https://www.coindesk.com/price/ethereum/	PROPN
iiclr-27370	33	1	[	[	X
iiclr-27370	33	2	https://perma.cc/5pea-gm79	https://perma.cc/5pea-gm79	X
iiclr-27370	33	3	]	]	PUNCT
iiclr-27370	33	4	(	(	PUNCT
iiclr-27370	33	5	stating	state	VERB
iiclr-27370	33	6	that	that	SCONJ
iiclr-27370	33	7	ethereum	ethereum	NOUN
iiclr-27370	33	8	was	be	AUX
iiclr-27370	33	9	launched	launch	VERB
iiclr-27370	33	10	in	in	ADP
iiclr-27370	33	11	2014	2014	NUM
iiclr-27370	33	12	at	at	ADP
iiclr-27370	33	13	31	31	NUM
iiclr-27370	33	14	cents	cent	NOUN
iiclr-27370	33	15	per	per	ADP
iiclr-27370	33	16	coin	coin	NOUN
iiclr-27370	33	17	before	before	ADP
iiclr-27370	33	18	hitting	hit	VERB
iiclr-27370	33	19	a	a	DET
iiclr-27370	33	20	price	price	NOUN
iiclr-27370	33	21	of	of	ADP
iiclr-27370	33	22	$	$	SYM
iiclr-27370	33	23	4,379	4,379	NUM
iiclr-27370	33	24	per	per	ADP
iiclr-27370	33	25	coin	coin	NOUN
iiclr-27370	33	26	in	in	ADP
iiclr-27370	33	27	may	may	PROPN
iiclr-27370	33	28	2021	2021	NUM
iiclr-27370	33	29	)	)	PUNCT
iiclr-27370	33	30	.	.	PUNCT
iiclr-27370	34	1	11	11	NUM
iiclr-27370	34	2	.	.	PUNCT
iiclr-27370	35	1	the	the	DET
iiclr-27370	35	2	california	california	PROPN
iiclr-27370	35	3	gold	gold	NOUN
iiclr-27370	35	4	rush	rush	NOUN
iiclr-27370	35	5	,	,	PUNCT
iiclr-27370	35	6	supra	supra	PROPN
iiclr-27370	35	7	note	note	NOUN
iiclr-27370	35	8	8	8	NUM
iiclr-27370	35	9	.	.	NOUN
iiclr-27370	35	10	12	12	NUM
iiclr-27370	35	11	.	.	PUNCT
iiclr-27370	36	1	the	the	DET
iiclr-27370	36	2	wild	wild	ADJ
iiclr-27370	36	3	west	west	PROPN
iiclr-27370	36	4	,	,	PUNCT
iiclr-27370	36	5	supra	supra	PROPN
iiclr-27370	36	6	note	note	NOUN
iiclr-27370	36	7	3	3	NUM
iiclr-27370	36	8	.	.	NOUN
iiclr-27370	36	9	2023	2023	NUM
iiclr-27370	36	10	]	]	PUNCT
iiclr-27370	36	11	the	the	DET
iiclr-27370	36	12	wild	wild	ADJ
iiclr-27370	36	13	west	west	NOUN
iiclr-27370	36	14	,	,	PUNCT
iiclr-27370	36	15	cryptocurrency	cryptocurrency	NOUN
iiclr-27370	36	16	,	,	PUNCT
iiclr-27370	36	17	and	and	CCONJ
iiclr-27370	36	18	singapore	singapore	PROPN
iiclr-27370	36	19	193	193	NUM
iiclr-27370	36	20	same	same	ADJ
iiclr-27370	36	21	reason.13	reason.13	NOUN
iiclr-27370	36	22	as	as	SCONJ
iiclr-27370	36	23	was	be	AUX
iiclr-27370	36	24	the	the	DET
iiclr-27370	36	25	case	case	NOUN
iiclr-27370	36	26	in	in	ADP
iiclr-27370	36	27	the	the	DET
iiclr-27370	36	28	wild	wild	ADJ
iiclr-27370	36	29	west	west	NOUN
iiclr-27370	36	30	,	,	PUNCT
iiclr-27370	36	31	these	these	DET
iiclr-27370	36	32	american	american	ADJ
iiclr-27370	36	33	early	early	ADJ
iiclr-27370	36	34	adopters	adopter	NOUN
iiclr-27370	36	35	to	to	PART
iiclr-27370	36	36	cryptocurrency	cryptocurrency	NOUN
iiclr-27370	36	37	have	have	AUX
iiclr-27370	36	38	found	find	VERB
iiclr-27370	36	39	themselves	themselves	PRON
iiclr-27370	36	40	in	in	ADP
iiclr-27370	36	41	new	new	ADJ
iiclr-27370	36	42	,	,	PUNCT
iiclr-27370	36	43	unfamiliar	unfamiliar	ADJ
iiclr-27370	36	44	territory	territory	NOUN
iiclr-27370	36	45	with	with	ADP
iiclr-27370	36	46	a	a	DET
iiclr-27370	36	47	lack	lack	NOUN
iiclr-27370	36	48	of	of	ADP
iiclr-27370	36	49	adequate	adequate	ADJ
iiclr-27370	36	50	regulation	regulation	NOUN
iiclr-27370	36	51	to	to	PART
iiclr-27370	36	52	address	address	VERB
iiclr-27370	36	53	the	the	DET
iiclr-27370	36	54	multitude	multitude	NOUN
iiclr-27370	36	55	of	of	ADP
iiclr-27370	36	56	hazards	hazard	NOUN
iiclr-27370	36	57	that	that	PRON
iiclr-27370	36	58	exist	exist	VERB
iiclr-27370	36	59	,	,	PUNCT
iiclr-27370	36	60	such	such	ADJ
iiclr-27370	36	61	as	as	ADP
iiclr-27370	36	62	fraudulent	fraudulent	ADJ
iiclr-27370	36	63	initial	initial	ADJ
iiclr-27370	36	64	coin	coin	NOUN
iiclr-27370	36	65	offerings	offering	NOUN
iiclr-27370	36	66	(	(	PUNCT
iiclr-27370	36	67	icos	icos	PROPN
iiclr-27370	36	68	)	)	PUNCT
iiclr-27370	36	69	,	,	PUNCT
iiclr-27370	36	70	the	the	DET
iiclr-27370	36	71	use	use	NOUN
iiclr-27370	36	72	of	of	ADP
iiclr-27370	36	73	cryptocurrency	cryptocurrency	NOUN
iiclr-27370	36	74	for	for	ADP
iiclr-27370	36	75	criminal	criminal	ADJ
iiclr-27370	36	76	enterprises	enterprise	NOUN
iiclr-27370	36	77	,	,	PUNCT
iiclr-27370	36	78	and	and	CCONJ
iiclr-27370	36	79	an	an	DET
iiclr-27370	36	80	extremely	extremely	ADV
iiclr-27370	36	81	volatile	volatile	ADJ
iiclr-27370	36	82	market.14	market.14	NOUN
iiclr-27370	36	83	in	in	ADP
iiclr-27370	36	84	contrast	contrast	NOUN
iiclr-27370	36	85	to	to	ADP
iiclr-27370	36	86	the	the	DET
iiclr-27370	36	87	united	united	PROPN
iiclr-27370	36	88	states	states	PROPN
iiclr-27370	36	89	,	,	PUNCT
iiclr-27370	36	90	singapore	singapore	PROPN
iiclr-27370	36	91	has	have	AUX
iiclr-27370	36	92	successfully	successfully	ADV
iiclr-27370	36	93	implemented	implement	VERB
iiclr-27370	36	94	regulations	regulation	NOUN
iiclr-27370	36	95	that	that	PRON
iiclr-27370	36	96	not	not	PART
iiclr-27370	36	97	only	only	ADV
iiclr-27370	36	98	effectively	effectively	ADV
iiclr-27370	36	99	govern	govern	VERB
iiclr-27370	36	100	cryptocurrency	cryptocurrency	NOUN
iiclr-27370	36	101	,	,	PUNCT
iiclr-27370	36	102	but	but	CCONJ
iiclr-27370	36	103	that	that	PRON
iiclr-27370	36	104	do	do	AUX
iiclr-27370	36	105	so	so	ADV
iiclr-27370	36	106	without	without	ADP
iiclr-27370	36	107	stifling	stifle	VERB
iiclr-27370	36	108	the	the	DET
iiclr-27370	36	109	growth	growth	NOUN
iiclr-27370	36	110	of	of	ADP
iiclr-27370	36	111	the	the	DET
iiclr-27370	36	112	industry.15	industry.15	PROPN
iiclr-27370	36	113	singapore	singapore	PROPN
iiclr-27370	36	114	’s	’s	PART
iiclr-27370	36	115	regulatory	regulatory	ADJ
iiclr-27370	36	116	scheme	scheme	NOUN
iiclr-27370	36	117	has	have	AUX
iiclr-27370	36	118	been	be	AUX
iiclr-27370	36	119	so	so	ADV
iiclr-27370	36	120	successful	successful	ADJ
iiclr-27370	36	121	that	that	SCONJ
iiclr-27370	36	122	it	it	PRON
iiclr-27370	36	123	has	have	AUX
iiclr-27370	36	124	led	lead	VERB
iiclr-27370	36	125	some	some	PRON
iiclr-27370	36	126	to	to	PART
iiclr-27370	36	127	dub	dub	VERB
iiclr-27370	36	128	the	the	DET
iiclr-27370	36	129	country	country	NOUN
iiclr-27370	36	130	a	a	DET
iiclr-27370	36	131	“	"	PUNCT
iiclr-27370	36	132	crypto	crypto	X
iiclr-27370	36	133	haven	haven	NOUN
iiclr-27370	36	134	.	.	PUNCT
iiclr-27370	37	1	”16	”16	NOUN
iiclr-27370	37	2	this	this	DET
iiclr-27370	37	3	note	note	NOUN
iiclr-27370	37	4	argues	argue	VERB
iiclr-27370	37	5	that	that	SCONJ
iiclr-27370	37	6	the	the	DET
iiclr-27370	37	7	united	united	PROPN
iiclr-27370	37	8	states	states	PROPN
iiclr-27370	37	9	should	should	AUX
iiclr-27370	37	10	look	look	VERB
iiclr-27370	37	11	to	to	ADP
iiclr-27370	37	12	singapore	singapore	NOUN
iiclr-27370	37	13	for	for	ADP
iiclr-27370	37	14	guidance	guidance	NOUN
iiclr-27370	37	15	in	in	ADP
iiclr-27370	37	16	implementing	implement	VERB
iiclr-27370	37	17	a	a	DET
iiclr-27370	37	18	federal	federal	ADJ
iiclr-27370	37	19	cryptocurrency	cryptocurrency	NOUN
iiclr-27370	37	20	regulation	regulation	NOUN
iiclr-27370	37	21	to	to	PART
iiclr-27370	37	22	protect	protect	VERB
iiclr-27370	37	23	american	american	ADJ
iiclr-27370	37	24	crypto	crypto	PROPN
iiclr-27370	37	25	holders	holder	NOUN
iiclr-27370	37	26	while	while	SCONJ
iiclr-27370	37	27	promoting	promote	VERB
iiclr-27370	37	28	the	the	DET
iiclr-27370	37	29	growth	growth	NOUN
iiclr-27370	37	30	of	of	ADP
iiclr-27370	37	31	the	the	DET
iiclr-27370	37	32	industry	industry	NOUN
iiclr-27370	37	33	.	.	PUNCT
iiclr-27370	38	1	part	part	NOUN
iiclr-27370	38	2	i	i	PRON
iiclr-27370	38	3	lays	lay	VERB
iiclr-27370	38	4	a	a	DET
iiclr-27370	38	5	foundational	foundational	ADJ
iiclr-27370	38	6	background	background	NOUN
iiclr-27370	38	7	on	on	ADP
iiclr-27370	38	8	cryptocurrency	cryptocurrency	NOUN
iiclr-27370	38	9	.	.	PUNCT
iiclr-27370	39	1	part	part	PROPN
iiclr-27370	39	2	ii	ii	PROPN
iiclr-27370	39	3	considers	consider	VERB
iiclr-27370	39	4	the	the	DET
iiclr-27370	39	5	unsuccessful	unsuccessful	ADJ
iiclr-27370	39	6	attempts	attempt	NOUN
iiclr-27370	39	7	at	at	ADP
iiclr-27370	39	8	cryptocurrency	cryptocurrency	NOUN
iiclr-27370	39	9	regulation	regulation	NOUN
iiclr-27370	39	10	that	that	PRON
iiclr-27370	39	11	have	have	AUX
iiclr-27370	39	12	been	be	AUX
iiclr-27370	39	13	implemented	implement	VERB
iiclr-27370	39	14	by	by	ADP
iiclr-27370	39	15	the	the	DET
iiclr-27370	39	16	united	united	PROPN
iiclr-27370	39	17	states	states	PROPN
iiclr-27370	39	18	.	.	PUNCT
iiclr-27370	40	1	part	part	NOUN
iiclr-27370	40	2	iii	iii	PROPN
iiclr-27370	40	3	examines	examines	PROPN
iiclr-27370	40	4	singapore	singapore	PROPN
iiclr-27370	40	5	’s	’s	PART
iiclr-27370	40	6	effective	effective	ADJ
iiclr-27370	40	7	approach	approach	NOUN
iiclr-27370	40	8	to	to	ADP
iiclr-27370	40	9	cryptocurrency	cryptocurrency	NOUN
iiclr-27370	40	10	regulation	regulation	NOUN
iiclr-27370	40	11	.	.	PUNCT
iiclr-27370	41	1	part	part	NOUN
iiclr-27370	41	2	iv	iv	NUM
iiclr-27370	41	3	advocates	advocate	VERB
iiclr-27370	41	4	that	that	SCONJ
iiclr-27370	41	5	singapore	singapore	PROPN
iiclr-27370	41	6	’s	’s	PART
iiclr-27370	41	7	regulatory	regulatory	ADJ
iiclr-27370	41	8	scheme	scheme	NOUN
iiclr-27370	41	9	is	be	AUX
iiclr-27370	41	10	superior	superior	ADJ
iiclr-27370	41	11	because	because	SCONJ
iiclr-27370	41	12	it	it	PRON
iiclr-27370	41	13	creates	create	VERB
iiclr-27370	41	14	concrete	concrete	ADJ
iiclr-27370	41	15	regulation	regulation	NOUN
iiclr-27370	41	16	,	,	PUNCT
iiclr-27370	41	17	provides	provide	VERB
iiclr-27370	41	18	consumer	consumer	NOUN
iiclr-27370	41	19	protection	protection	NOUN
iiclr-27370	41	20	,	,	PUNCT
iiclr-27370	41	21	and	and	CCONJ
iiclr-27370	41	22	manages	manage	VERB
iiclr-27370	41	23	to	to	PART
iiclr-27370	41	24	make	make	VERB
iiclr-27370	41	25	the	the	DET
iiclr-27370	41	26	country	country	NOUN
iiclr-27370	41	27	attractive	attractive	ADJ
iiclr-27370	41	28	to	to	ADP
iiclr-27370	41	29	cryptocurrency	cryptocurrency	NOUN
iiclr-27370	41	30	companies	company	NOUN
iiclr-27370	41	31	.	.	PUNCT
iiclr-27370	42	1	finally	finally	ADV
iiclr-27370	42	2	,	,	PUNCT
iiclr-27370	42	3	part	part	NOUN
iiclr-27370	42	4	v	v	NOUN
iiclr-27370	42	5	concludes	conclude	VERB
iiclr-27370	42	6	this	this	DET
iiclr-27370	42	7	note	note	NOUN
iiclr-27370	42	8	by	by	ADP
iiclr-27370	42	9	recommending	recommend	VERB
iiclr-27370	42	10	that	that	SCONJ
iiclr-27370	42	11	the	the	DET
iiclr-27370	42	12	united	united	PROPN
iiclr-27370	42	13	states	states	PROPN
iiclr-27370	42	14	adopt	adopt	VERB
iiclr-27370	42	15	a	a	DET
iiclr-27370	42	16	regulatory	regulatory	ADJ
iiclr-27370	42	17	framework	framework	NOUN
iiclr-27370	42	18	in	in	ADP
iiclr-27370	42	19	the	the	DET
iiclr-27370	42	20	same	same	ADJ
iiclr-27370	42	21	vein	vein	NOUN
iiclr-27370	42	22	as	as	SCONJ
iiclr-27370	42	23	the	the	DET
iiclr-27370	42	24	one	one	NUM
iiclr-27370	42	25	singapore	singapore	NOUN
iiclr-27370	42	26	has	have	AUX
iiclr-27370	42	27	implemented	implement	VERB
iiclr-27370	42	28	.	.	PUNCT
iiclr-27370	43	1	i.	i.	PROPN
iiclr-27370	43	2	cryptocurrency	cryptocurrency	PROPN
iiclr-27370	43	3	—	—	PUNCT
iiclr-27370	43	4	the	the	DET
iiclr-27370	43	5	growing	grow	VERB
iiclr-27370	43	6	pains	pain	NOUN
iiclr-27370	43	7	of	of	ADP
iiclr-27370	43	8	a	a	DET
iiclr-27370	43	9	currency	currency	NOUN
iiclr-27370	43	10	in	in	ADP
iiclr-27370	43	11	its	its	PRON
iiclr-27370	43	12	infancy	infancy	NOUN
iiclr-27370	43	13	when	when	SCONJ
iiclr-27370	43	14	coin	coin	NOUN
iiclr-27370	43	15	issuers	issuer	NOUN
iiclr-27370	43	16	want	want	VERB
iiclr-27370	43	17	to	to	PART
iiclr-27370	43	18	introduce	introduce	VERB
iiclr-27370	43	19	their	their	PRON
iiclr-27370	43	20	cryptocurrency	cryptocurrency	NOUN
iiclr-27370	43	21	to	to	ADP
iiclr-27370	43	22	the	the	DET
iiclr-27370	43	23	public	public	NOUN
iiclr-27370	43	24	,	,	PUNCT
iiclr-27370	43	25	they	they	PRON
iiclr-27370	43	26	will	will	AUX
iiclr-27370	43	27	often	often	ADV
iiclr-27370	43	28	do	do	VERB
iiclr-27370	43	29	so	so	ADV
iiclr-27370	43	30	through	through	ADP
iiclr-27370	43	31	an	an	DET
iiclr-27370	43	32	initial	initial	ADJ
iiclr-27370	43	33	coin	coin	NOUN
iiclr-27370	43	34	offering	offering	NOUN
iiclr-27370	43	35	,	,	PUNCT
iiclr-27370	43	36	which	which	PRON
iiclr-27370	43	37	is	be	AUX
iiclr-27370	43	38	like	like	ADP
iiclr-27370	43	39	an	an	DET
iiclr-27370	43	40	initial	initial	ADJ
iiclr-27370	43	41	public	public	ADJ
iiclr-27370	43	42	offering	offering	NOUN
iiclr-27370	43	43	of	of	ADP
iiclr-27370	43	44	stock	stock	NOUN
iiclr-27370	43	45	in	in	ADP
iiclr-27370	43	46	the	the	DET
iiclr-27370	43	47	united	united	PROPN
iiclr-27370	43	48	states.17	states.17	PROPN
iiclr-27370	43	49	when	when	SCONJ
iiclr-27370	43	50	an	an	DET
iiclr-27370	43	51	ico	ico	PROPN
iiclr-27370	43	52	occurs	occur	VERB
iiclr-27370	43	53	,	,	PUNCT
iiclr-27370	43	54	the	the	DET
iiclr-27370	43	55	crypto	crypto	NOUN
iiclr-27370	43	56	13	13	NUM
iiclr-27370	43	57	.	.	PUNCT
iiclr-27370	44	1	the	the	DET
iiclr-27370	44	2	white	white	PROPN
iiclr-27370	44	3	house	house	PROPN
iiclr-27370	44	4	,	,	PUNCT
iiclr-27370	44	5	fact	fact	NOUN
iiclr-27370	44	6	sheet	sheet	NOUN
iiclr-27370	44	7	:	:	PUNCT
iiclr-27370	44	8	president	president	PROPN
iiclr-27370	44	9	biden	biden	PROPN
iiclr-27370	44	10	to	to	PART
iiclr-27370	44	11	sign	sign	VERB
iiclr-27370	44	12	executive	executive	ADJ
iiclr-27370	44	13	order	order	NOUN
iiclr-27370	44	14	on	on	ADP
iiclr-27370	44	15	ensuring	ensure	VERB
iiclr-27370	44	16	responsible	responsible	ADJ
iiclr-27370	44	17	development	development	NOUN
iiclr-27370	44	18	of	of	ADP
iiclr-27370	44	19	digital	digital	ADJ
iiclr-27370	44	20	assets	asset	NOUN
iiclr-27370	44	21	(	(	PUNCT
iiclr-27370	44	22	2022	2022	NUM
iiclr-27370	44	23	)	)	PUNCT
iiclr-27370	44	24	,	,	PUNCT
iiclr-27370	44	25	https://www.whitehouse	https://www.whitehouse	PROPN
iiclr-27370	44	26	.	.	PUNCT
iiclr-27370	45	1	gov	gov	PROPN
iiclr-27370	45	2	/	/	SYM
iiclr-27370	45	3	briefing	briefing	NOUN
iiclr-27370	45	4	-	-	PUNCT
iiclr-27370	45	5	room	room	NOUN
iiclr-27370	45	6	/	/	SYM
iiclr-27370	45	7	statements	statement	NOUN
iiclr-27370	45	8	-	-	PUNCT
iiclr-27370	45	9	releases/2022/03/09	releases/2022/03/09	NOUN
iiclr-27370	45	10	/	/	SYM
iiclr-27370	45	11	fact	fact	NOUN
iiclr-27370	45	12	-	-	PUNCT
iiclr-27370	45	13	sheet	sheet	NOUN
iiclr-27370	45	14	-	-	PUNCT
iiclr-27370	45	15	president	president	NOUN
iiclr-27370	45	16	-	-	PUNCT
iiclr-27370	45	17	biden	biden	PROPN
iiclr-27370	45	18	-	-	PUNCT
iiclr-27370	45	19	to	to	ADP
iiclr-27370	45	20	-	-	PUNCT
iiclr-27370	45	21	sign	sign	VERB
iiclr-27370	45	22	-	-	PUNCT
iiclr-27370	45	23	executiveorder	executiveorder	NOUN
iiclr-27370	45	24	-	-	PUNCT
iiclr-27370	45	25	on	on	ADP
iiclr-27370	45	26	-	-	PUNCT
iiclr-27370	45	27	ensuring	ensuring	ADJ
iiclr-27370	45	28	-	-	PUNCT
iiclr-27370	45	29	responsible	responsible	ADJ
iiclr-27370	45	30	-	-	PUNCT
iiclr-27370	45	31	innovation	innovation	NOUN
iiclr-27370	45	32	-	-	PUNCT
iiclr-27370	45	33	in	in	ADP
iiclr-27370	45	34	-	-	PUNCT
iiclr-27370	45	35	digital	digital	ADJ
iiclr-27370	45	36	-	-	PUNCT
iiclr-27370	45	37	assets/	assets/	NOUN
iiclr-27370	45	38	[	[	X
iiclr-27370	45	39	https://perma.cc/84za-uxeq	https://perma.cc/84za-uxeq	X
iiclr-27370	45	40	]	]	X
iiclr-27370	45	41	.	.	PUNCT
iiclr-27370	46	1	14	14	NUM
iiclr-27370	46	2	.	.	PUNCT
iiclr-27370	47	1	i	i	PRON
iiclr-27370	47	2	d.	d.	PROPN
iiclr-27370	47	3	;	;	PUNCT
iiclr-27370	47	4	spotlight	spotlight	NOUN
iiclr-27370	47	5	on	on	ADP
iiclr-27370	47	6	initial	initial	ADJ
iiclr-27370	47	7	coin	coin	NOUN
iiclr-27370	47	8	offerings	offering	NOUN
iiclr-27370	47	9	(	(	PUNCT
iiclr-27370	47	10	icos	icos	PROPN
iiclr-27370	47	11	)	)	PUNCT
iiclr-27370	47	12	,	,	PUNCT
iiclr-27370	47	13	sec	sec	PROPN
iiclr-27370	47	14	,	,	PUNCT
iiclr-27370	47	15	https://www.sec.gov/ico	https://www.sec.gov/ico	PROPN
iiclr-27370	48	1	[	[	X
iiclr-27370	48	2	https://perma.cc/2wz3-el23	https://perma.cc/2wz3-el23	NOUN
iiclr-27370	48	3	]	]	X
iiclr-27370	48	4	(	(	PUNCT
iiclr-27370	48	5	july	july	PROPN
iiclr-27370	48	6	14	14	NUM
iiclr-27370	48	7	,	,	PUNCT
iiclr-27370	48	8	2021	2021	NUM
iiclr-27370	48	9	)	)	PUNCT
iiclr-27370	48	10	(	(	PUNCT
iiclr-27370	48	11	“	"	PUNCT
iiclr-27370	48	12	while	while	SCONJ
iiclr-27370	48	13	some	some	DET
iiclr-27370	48	14	icos	ico	NOUN
iiclr-27370	48	15	may	may	AUX
iiclr-27370	48	16	be	be	AUX
iiclr-27370	48	17	attempts	attempt	NOUN
iiclr-27370	48	18	at	at	ADP
iiclr-27370	48	19	honest	honest	ADJ
iiclr-27370	48	20	investment	investment	NOUN
iiclr-27370	48	21	opportunities	opportunity	NOUN
iiclr-27370	48	22	,	,	PUNCT
iiclr-27370	48	23	many	many	ADJ
iiclr-27370	48	24	may	may	AUX
iiclr-27370	48	25	be	be	AUX
iiclr-27370	48	26	frauds	fraud	NOUN
iiclr-27370	48	27	,	,	PUNCT
iiclr-27370	48	28	separating	separate	VERB
iiclr-27370	48	29	you	you	PRON
iiclr-27370	48	30	from	from	ADP
iiclr-27370	48	31	your	your	PRON
iiclr-27370	48	32	hard	hard	ADJ
iiclr-27370	48	33	earned	earn	VERB
iiclr-27370	48	34	money	money	NOUN
iiclr-27370	48	35	with	with	ADP
iiclr-27370	48	36	promises	promise	NOUN
iiclr-27370	48	37	of	of	ADP
iiclr-27370	48	38	guaranteed	guarantee	VERB
iiclr-27370	48	39	returns	return	NOUN
iiclr-27370	48	40	and	and	CCONJ
iiclr-27370	48	41	fortunes	fortune	NOUN
iiclr-27370	48	42	.	.	PUNCT
iiclr-27370	48	43	”	"	PUNCT
iiclr-27370	48	44	)	)	PUNCT
iiclr-27370	48	45	;	;	PUNCT
iiclr-27370	48	46	joshua	joshua	PROPN
iiclr-27370	48	47	ehrenfeld	ehrenfeld	PROPN
iiclr-27370	48	48	,	,	PUNCT
iiclr-27370	48	49	ryan	ryan	PROPN
iiclr-27370	48	50	gallagher	gallagher	PROPN
iiclr-27370	48	51	,	,	PUNCT
iiclr-27370	48	52	matthew	matthew	PROPN
iiclr-27370	48	53	lyon	lyon	PROPN
iiclr-27370	48	54	,	,	PUNCT
iiclr-27370	48	55	thomas	thomas	PROPN
iiclr-27370	48	56	potter	potter	PROPN
iiclr-27370	48	57	&	&	CCONJ
iiclr-27370	48	58	josh	josh	PROPN
iiclr-27370	48	59	rosenblatt	rosenblatt	PROPN
iiclr-27370	48	60	,	,	PUNCT
iiclr-27370	48	61	legal	legal	ADJ
iiclr-27370	48	62	issues	issue	NOUN
iiclr-27370	48	63	surrounding	surround	VERB
iiclr-27370	48	64	blockchain	blockchain	NOUN
iiclr-27370	48	65	,	,	PUNCT
iiclr-27370	48	66	cryptocurrency	cryptocurrency	NOUN
iiclr-27370	48	67	,	,	PUNCT
iiclr-27370	48	68	&	&	CCONJ
iiclr-27370	48	69	bitcoin	bitcoin	PROPN
iiclr-27370	48	70	,	,	PUNCT
iiclr-27370	48	71	20	20	NUM
iiclr-27370	48	72	tenn	tenn	PROPN
iiclr-27370	48	73	.	.	PUNCT
iiclr-27370	49	1	j.	j.	PROPN
iiclr-27370	49	2	bus	bus	PROPN
iiclr-27370	49	3	.	.	PUNCT
iiclr-27370	50	1	l.	l.	PROPN
iiclr-27370	50	2	1135	1135	NUM
iiclr-27370	50	3	,	,	PUNCT
iiclr-27370	50	4	1158	1158	NUM
iiclr-27370	50	5	(	(	PUNCT
iiclr-27370	50	6	2019	2019	NUM
iiclr-27370	50	7	)	)	PUNCT
iiclr-27370	50	8	(	(	PUNCT
iiclr-27370	50	9	stating	state	VERB
iiclr-27370	50	10	that	that	SCONJ
iiclr-27370	50	11	without	without	ADP
iiclr-27370	50	12	developed	develop	VERB
iiclr-27370	50	13	regulatory	regulatory	ADJ
iiclr-27370	50	14	structures	structure	NOUN
iiclr-27370	50	15	,	,	PUNCT
iiclr-27370	50	16	the	the	DET
iiclr-27370	50	17	cryptocurrency	cryptocurrency	NOUN
iiclr-27370	50	18	market	market	NOUN
iiclr-27370	50	19	contains	contain	VERB
iiclr-27370	50	20	“	"	PUNCT
iiclr-27370	50	21	a	a	DET
iiclr-27370	50	22	lot	lot	NOUN
iiclr-27370	50	23	of	of	ADP
iiclr-27370	50	24	real	real	ADJ
iiclr-27370	50	25	active	active	ADJ
iiclr-27370	50	26	players	player	NOUN
iiclr-27370	50	27	looking	look	VERB
iiclr-27370	50	28	to	to	PART
iiclr-27370	50	29	exploit	exploit	VERB
iiclr-27370	50	30	it	it	PRON
iiclr-27370	50	31	for	for	ADP
iiclr-27370	50	32	fraud	fraud	NOUN
iiclr-27370	50	33	and	and	CCONJ
iiclr-27370	50	34	criminal	criminal	ADJ
iiclr-27370	50	35	activity	activity	NOUN
iiclr-27370	50	36	”	"	PUNCT
iiclr-27370	50	37	)	)	PUNCT
iiclr-27370	50	38	;	;	PUNCT
iiclr-27370	50	39	nicole	nicole	PROPN
iiclr-27370	50	40	lapin	lapin	NOUN
iiclr-27370	50	41	,	,	PUNCT
iiclr-27370	50	42	explaining	explain	VERB
iiclr-27370	50	43	crypto	crypto	NOUN
iiclr-27370	50	44	’s	’s	PART
iiclr-27370	50	45	volatility	volatility	NOUN
iiclr-27370	50	46	,	,	PUNCT
iiclr-27370	50	47	forbes	forbes	PROPN
iiclr-27370	50	48	(	(	PUNCT
iiclr-27370	50	49	dec	dec	PROPN
iiclr-27370	50	50	.	.	PROPN
iiclr-27370	50	51	23	23	NUM
iiclr-27370	50	52	,	,	PUNCT
iiclr-27370	50	53	2021	2021	NUM
iiclr-27370	50	54	,	,	PUNCT
iiclr-27370	50	55	6:00	6:00	NUM
iiclr-27370	50	56	am	be	AUX
iiclr-27370	50	57	est	est	X
iiclr-27370	50	58	)	)	PUNCT
iiclr-27370	50	59	,	,	PUNCT
iiclr-27370	50	60	https://www.forbes.com/sites/nicolelapin/2021/12/23/explaining-cryptos-volatility/	https://www.forbes.com/sites/nicolelapin/2021/12/23/explaining-cryptos-volatility/	PROPN
iiclr-27370	50	61	?	?	PUNCT
iiclr-27370	50	62	sh=610ca55e7b54	sh=610ca55e7b54	PROPN
iiclr-27370	51	1	[	[	X
iiclr-27370	51	2	https://perma.cc/5kuk-5xws	https://perma.cc/5kuk-5xws	NOUN
iiclr-27370	51	3	]	]	X
iiclr-27370	51	4	.	.	PUNCT
iiclr-27370	52	1	15	15	NUM
iiclr-27370	52	2	.	.	X
iiclr-27370	53	1	t	t	NOUN
iiclr-27370	54	1	i	i	PRON
iiclr-27370	54	2	m	m	VERB
iiclr-27370	55	1	o	o	NOUN
iiclr-27370	55	2	t	t	NOUN
iiclr-27370	56	1	h	h	NOUN
iiclr-27370	56	2	y	y	PROPN
iiclr-27370	56	3	s	s	VERB
iiclr-27370	56	4	m	m	VERB
iiclr-27370	57	1	i	i	PRON
iiclr-27370	57	2	t	t	NOUN
iiclr-27370	57	3	h	h	NOUN
iiclr-27370	57	4	,	,	PUNCT
iiclr-27370	57	5	c	c	PROPN
iiclr-27370	57	6	r	r	NOUN
iiclr-27370	57	7	yp	yp	PROPN
iiclr-27370	57	8	to	to	ADP
iiclr-27370	57	9	cu	cu	PROPN
iiclr-27370	57	10	rren	rren	PROPN
iiclr-27370	57	11	cy	cy	ADP
iiclr-27370	57	12	r	r	NOUN
iiclr-27370	57	13	eg	eg	NOUN
iiclr-27370	57	14	u	u	PROPN
iiclr-27370	57	15	la	la	PROPN
iiclr-27370	57	16	t	t	PROPN
iiclr-27370	58	1	i	i	PRON
iiclr-27370	58	2	o	o	VERB
iiclr-27370	59	1	n	n	X
iiclr-27370	59	2	s	s	VERB
iiclr-27370	59	3	a	a	DET
iiclr-27370	59	4	r	r	NOUN
iiclr-27370	59	5	o	o	X
iiclr-27370	59	6	u	u	NOUN
iiclr-27370	59	7	n	n	PROPN
iiclr-27370	59	8	d	d	NOUN
iiclr-27370	59	9	t	t	NOUN
iiclr-27370	59	10	h	h	NOUN
iiclr-27370	59	11	e	e	PROPN
iiclr-27370	59	12	world	world	NOUN
iiclr-27370	59	13	,	,	PUNCT
iiclr-27370	59	14	investopedia	investopedia	PROPN
iiclr-27370	59	15	,	,	PUNCT
iiclr-27370	59	16	https://www.investopedia.com/cryptocurrency-regulations-around-theworld-5202122	https://www.investopedia.com/cryptocurrency-regulations-around-theworld-5202122	PROPN
iiclr-27370	60	1	[	[	X
iiclr-27370	60	2	https://perma.cc/x8cy-jvjq	https://perma.cc/x8cy-jvjq	X
iiclr-27370	60	3	]	]	X
iiclr-27370	60	4	(	(	PUNCT
iiclr-27370	60	5	nov	nov	PROPN
iiclr-27370	60	6	.	.	PROPN
iiclr-27370	60	7	2	2	NUM
iiclr-27370	60	8	,	,	PUNCT
iiclr-27370	60	9	2022	2022	NUM
iiclr-27370	60	10	)	)	PUNCT
iiclr-27370	60	11	.	.	PUNCT
iiclr-27370	61	1	16	16	NUM
iiclr-27370	61	2	.	.	PUNCT
iiclr-27370	62	1	i	i	PRON
iiclr-27370	62	2	d.	d.	PROPN
iiclr-27370	62	3	17	17	NUM
iiclr-27370	62	4	.	.	PUNCT
iiclr-27370	63	1	rani	rani	PROPN
iiclr-27370	63	2	shulman	shulman	PROPN
iiclr-27370	63	3	,	,	PUNCT
iiclr-27370	63	4	are	be	AUX
iiclr-27370	63	5	centralized	centralize	VERB
iiclr-27370	63	6	cryptocurrency	cryptocurrency	NOUN
iiclr-27370	63	7	regulations	regulation	NOUN
iiclr-27370	63	8	the	the	DET
iiclr-27370	63	9	answer	answer	NOUN
iiclr-27370	63	10	?	?	PUNCT
iiclr-27370	64	1	three	three	NUM
iiclr-27370	64	2	194	194	NUM
iiclr-27370	64	3	indiana	indiana	PROPN
iiclr-27370	64	4	int’l	int’l	NOUN
iiclr-27370	64	5	&	&	CCONJ
iiclr-27370	64	6	comp	comp	PROPN
iiclr-27370	64	7	.	.	PUNCT
iiclr-27370	65	1	law	law	NOUN
iiclr-27370	65	2	review	review	NOUN
iiclr-27370	66	1	[	[	X
iiclr-27370	66	2	vol	vol	NOUN
iiclr-27370	66	3	.	.	PUNCT
iiclr-27370	66	4	33:191	33:191	NUM
iiclr-27370	66	5	developer	developer	NOUN
iiclr-27370	66	6	offering	offer	VERB
iiclr-27370	66	7	the	the	DET
iiclr-27370	66	8	coin	coin	NOUN
iiclr-27370	66	9	typically	typically	ADV
iiclr-27370	66	10	publishes	publish	VERB
iiclr-27370	66	11	a	a	DET
iiclr-27370	66	12	whitepaper	whitepaper	NOUN
iiclr-27370	66	13	,	,	PUNCT
iiclr-27370	66	14	simply	simply	ADV
iiclr-27370	66	15	describing	describe	VERB
iiclr-27370	66	16	the	the	DET
iiclr-27370	66	17	fundraising	fundraising	NOUN
iiclr-27370	66	18	purposes	purpose	NOUN
iiclr-27370	66	19	behind	behind	ADP
iiclr-27370	66	20	the	the	DET
iiclr-27370	66	21	ico	ico	PROPN
iiclr-27370	66	22	and	and	CCONJ
iiclr-27370	66	23	detailing	detail	VERB
iiclr-27370	66	24	the	the	DET
iiclr-27370	66	25	token	token	ADJ
iiclr-27370	66	26	being	be	AUX
iiclr-27370	66	27	offered.18	offered.18	VERB
iiclr-27370	66	28	these	these	DET
iiclr-27370	66	29	whitepapers	whitepaper	NOUN
iiclr-27370	66	30	usually	usually	ADV
iiclr-27370	66	31	offer	offer	VERB
iiclr-27370	66	32	little	little	ADJ
iiclr-27370	66	33	or	or	CCONJ
iiclr-27370	66	34	no	no	PRON
iiclr-27370	66	35	information	information	NOUN
iiclr-27370	66	36	about	about	ADP
iiclr-27370	66	37	the	the	DET
iiclr-27370	66	38	developers	developer	NOUN
iiclr-27370	66	39	of	of	ADP
iiclr-27370	66	40	the	the	DET
iiclr-27370	66	41	coin	coin	NOUN
iiclr-27370	66	42	and	and	CCONJ
iiclr-27370	66	43	do	do	AUX
iiclr-27370	66	44	not	not	PART
iiclr-27370	66	45	include	include	VERB
iiclr-27370	66	46	the	the	DET
iiclr-27370	66	47	developer	developer	NOUN
iiclr-27370	66	48	's	's	PART
iiclr-27370	66	49	contact	contact	NOUN
iiclr-27370	66	50	information.19	information.19	NOUN
iiclr-27370	66	51	often	often	ADV
iiclr-27370	66	52	,	,	PUNCT
iiclr-27370	66	53	investors	investor	NOUN
iiclr-27370	66	54	are	be	AUX
iiclr-27370	66	55	drawn	draw	VERB
iiclr-27370	66	56	to	to	ADP
iiclr-27370	66	57	icos	icos	PROPN
iiclr-27370	66	58	due	due	ADP
iiclr-27370	66	59	to	to	ADP
iiclr-27370	66	60	promises	promise	NOUN
iiclr-27370	66	61	of	of	ADP
iiclr-27370	66	62	large	large	ADJ
iiclr-27370	66	63	returns	return	NOUN
iiclr-27370	66	64	on	on	ADP
iiclr-27370	66	65	their	their	PRON
iiclr-27370	66	66	investments.20	investments.20	NOUN
iiclr-27370	66	67	more	more	ADV
iiclr-27370	66	68	often	often	ADV
iiclr-27370	66	69	than	than	ADP
iiclr-27370	66	70	not	not	PART
iiclr-27370	66	71	though	though	ADV
iiclr-27370	66	72	,	,	PUNCT
iiclr-27370	66	73	these	these	DET
iiclr-27370	66	74	returns	return	NOUN
iiclr-27370	66	75	are	be	AUX
iiclr-27370	66	76	not	not	PART
iiclr-27370	66	77	realized.21	realized.21	ADJ
iiclr-27370	66	78	even	even	ADV
iiclr-27370	66	79	more	more	ADV
iiclr-27370	66	80	alarmingly	alarmingly	ADV
iiclr-27370	66	81	,	,	PUNCT
iiclr-27370	66	82	many	many	ADJ
iiclr-27370	66	83	icos	ico	NOUN
iiclr-27370	66	84	turn	turn	VERB
iiclr-27370	66	85	out	out	ADP
iiclr-27370	66	86	to	to	PART
iiclr-27370	66	87	be	be	AUX
iiclr-27370	66	88	fraudulent	fraudulent	ADJ
iiclr-27370	66	89	.	.	PUNCT
iiclr-27370	67	1	in	in	ADP
iiclr-27370	67	2	the	the	DET
iiclr-27370	67	3	case	case	NOUN
iiclr-27370	67	4	of	of	ADP
iiclr-27370	67	5	a	a	DET
iiclr-27370	67	6	fraudulent	fraudulent	ADJ
iiclr-27370	67	7	ico	ico	NOUN
iiclr-27370	67	8	,	,	PUNCT
iiclr-27370	67	9	a	a	DET
iiclr-27370	67	10	coin	coin	NOUN
iiclr-27370	67	11	offerors	offeror	NOUN
iiclr-27370	67	12	fails	fail	VERB
iiclr-27370	67	13	to	to	PART
iiclr-27370	67	14	allocate	allocate	VERB
iiclr-27370	67	15	the	the	DET
iiclr-27370	67	16	funds	fund	NOUN
iiclr-27370	67	17	raised	raise	VERB
iiclr-27370	67	18	towards	towards	ADP
iiclr-27370	67	19	productive	productive	ADJ
iiclr-27370	67	20	market	market	NOUN
iiclr-27370	67	21	use	use	NOUN
iiclr-27370	67	22	,	,	PUNCT
iiclr-27370	67	23	opting	opt	VERB
iiclr-27370	67	24	instead	instead	ADV
iiclr-27370	67	25	to	to	PART
iiclr-27370	67	26	put	put	VERB
iiclr-27370	67	27	these	these	DET
iiclr-27370	67	28	funds	fund	NOUN
iiclr-27370	67	29	to	to	ADP
iiclr-27370	67	30	personal	personal	ADJ
iiclr-27370	67	31	use	use	NOUN
iiclr-27370	67	32	,	,	PUNCT
iiclr-27370	67	33	and	and	CCONJ
iiclr-27370	67	34	in	in	ADP
iiclr-27370	67	35	some	some	DET
iiclr-27370	67	36	instances	instance	NOUN
iiclr-27370	67	37	,	,	PUNCT
iiclr-27370	67	38	even	even	ADV
iiclr-27370	67	39	going	go	VERB
iiclr-27370	67	40	to	to	ADP
iiclr-27370	67	41	such	such	ADJ
iiclr-27370	67	42	extremes	extreme	NOUN
iiclr-27370	67	43	as	as	ADP
iiclr-27370	67	44	using	use	VERB
iiclr-27370	67	45	proceeds	proceed	NOUN
iiclr-27370	67	46	from	from	ADP
iiclr-27370	67	47	the	the	DET
iiclr-27370	67	48	ico	ico	PROPN
iiclr-27370	67	49	to	to	PART
iiclr-27370	67	50	fund	fund	VERB
iiclr-27370	67	51	their	their	PRON
iiclr-27370	67	52	disappearance.22	disappearance.22	NOUN
iiclr-27370	67	53	as	as	ADP
iiclr-27370	67	54	a	a	DET
iiclr-27370	67	55	result	result	NOUN
iiclr-27370	67	56	,	,	PUNCT
iiclr-27370	67	57	investors	investor	NOUN
iiclr-27370	67	58	in	in	ADP
iiclr-27370	67	59	fraudulent	fraudulent	PROPN
iiclr-27370	67	60	icos	icos	PROPN
iiclr-27370	67	61	lose	lose	VERB
iiclr-27370	67	62	their	their	PRON
iiclr-27370	67	63	monies	monie	NOUN
iiclr-27370	67	64	outright.23	outright.23	ADV
iiclr-27370	67	65	one	one	NUM
iiclr-27370	67	66	of	of	ADP
iiclr-27370	67	67	the	the	DET
iiclr-27370	67	68	most	most	ADV
iiclr-27370	67	69	prominent	prominent	ADJ
iiclr-27370	67	70	of	of	ADP
iiclr-27370	67	71	these	these	DET
iiclr-27370	67	72	fraudulent	fraudulent	ADJ
iiclr-27370	67	73	icos	icos	PROPN
iiclr-27370	67	74	came	come	VERB
iiclr-27370	67	75	about	about	ADP
iiclr-27370	67	76	in	in	ADP
iiclr-27370	67	77	2018	2018	NUM
iiclr-27370	67	78	when	when	SCONJ
iiclr-27370	67	79	a	a	DET
iiclr-27370	67	80	vietnamese	vietnamese	ADJ
iiclr-27370	67	81	tech	tech	NOUN
iiclr-27370	67	82	company	company	NOUN
iiclr-27370	67	83	,	,	PUNCT
iiclr-27370	67	84	modern	modern	ADJ
iiclr-27370	67	85	tech	tech	NOUN
iiclr-27370	67	86	,	,	PUNCT
iiclr-27370	67	87	launched	launch	VERB
iiclr-27370	67	88	two	two	NUM
iiclr-27370	67	89	coins	coin	NOUN
iiclr-27370	67	90	,	,	PUNCT
iiclr-27370	67	91	swindling	swindle	VERB
iiclr-27370	67	92	an	an	DET
iiclr-27370	67	93	estimated	estimate	VERB
iiclr-27370	67	94	32,000	32,000	NUM
iiclr-27370	67	95	investors	investor	NOUN
iiclr-27370	67	96	for	for	ADP
iiclr-27370	67	97	approximately	approximately	ADV
iiclr-27370	67	98	$	$	SYM
iiclr-27370	67	99	660	660	NUM
iiclr-27370	67	100	million	million	NUM
iiclr-27370	67	101	before	before	ADP
iiclr-27370	67	102	disappearing	disappear	VERB
iiclr-27370	67	103	with	with	ADP
iiclr-27370	67	104	the	the	DET
iiclr-27370	67	105	fraudulent	fraudulent	ADJ
iiclr-27370	67	106	proceeds	proceed	NOUN
iiclr-27370	67	107	,	,	PUNCT
iiclr-27370	67	108	leaving	leave	VERB
iiclr-27370	67	109	the	the	DET
iiclr-27370	67	110	holders	holder	NOUN
iiclr-27370	67	111	of	of	ADP
iiclr-27370	67	112	these	these	DET
iiclr-27370	67	113	coins	coin	NOUN
iiclr-27370	67	114	with	with	ADP
iiclr-27370	67	115	no	no	DET
iiclr-27370	67	116	legitimate	legitimate	ADJ
iiclr-27370	67	117	recourse	recourse	NOUN
iiclr-27370	67	118	to	to	PART
iiclr-27370	67	119	recoup	recoup	VERB
iiclr-27370	67	120	their	their	PRON
iiclr-27370	67	121	investments.24	investments.24	NOUN
iiclr-27370	67	122	in	in	ADP
iiclr-27370	67	123	executing	execute	VERB
iiclr-27370	67	124	this	this	DET
iiclr-27370	67	125	scheme	scheme	NOUN
iiclr-27370	67	126	,	,	PUNCT
iiclr-27370	67	127	modern	modern	ADJ
iiclr-27370	67	128	tech	tech	NOUN
iiclr-27370	67	129	first	first	ADV
iiclr-27370	67	130	launched	launch	VERB
iiclr-27370	67	131	pincoin	pincoin	NOUN
iiclr-27370	67	132	,	,	PUNCT
iiclr-27370	67	133	promising	promise	VERB
iiclr-27370	67	134	investors	investor	NOUN
iiclr-27370	67	135	large	large	ADJ
iiclr-27370	67	136	returns	return	NOUN
iiclr-27370	67	137	and	and	CCONJ
iiclr-27370	67	138	commissions	commission	NOUN
iiclr-27370	67	139	for	for	ADP
iiclr-27370	67	140	recruiting	recruit	VERB
iiclr-27370	67	141	new	new	ADJ
iiclr-27370	67	142	investors	investor	NOUN
iiclr-27370	67	143	to	to	PART
iiclr-27370	67	144	pincoin.25	pincoin.25	VERB
iiclr-27370	67	145	these	these	DET
iiclr-27370	67	146	rewards	reward	NOUN
iiclr-27370	67	147	were	be	AUX
iiclr-27370	67	148	initially	initially	ADV
iiclr-27370	67	149	paid	pay	VERB
iiclr-27370	67	150	in	in	ADP
iiclr-27370	67	151	cash	cash	NOUN
iiclr-27370	67	152	,	,	PUNCT
iiclr-27370	67	153	but	but	CCONJ
iiclr-27370	67	154	eventually	eventually	ADV
iiclr-27370	67	155	modern	modern	ADJ
iiclr-27370	67	156	tech	tech	NOUN
iiclr-27370	67	157	started	start	VERB
iiclr-27370	67	158	paying	pay	VERB
iiclr-27370	67	159	the	the	DET
iiclr-27370	67	160	rewards	reward	NOUN
iiclr-27370	67	161	out	out	ADP
iiclr-27370	67	162	in	in	ADP
iiclr-27370	67	163	ifan	ifan	NOUN
iiclr-27370	67	164	,	,	PUNCT
iiclr-27370	67	165	a	a	DET
iiclr-27370	67	166	different	different	ADJ
iiclr-27370	67	167	cryptocurrency	cryptocurrency	NOUN
iiclr-27370	67	168	that	that	SCONJ
iiclr-27370	67	169	the	the	DET
iiclr-27370	67	170	company	company	NOUN
iiclr-27370	67	171	created.26	created.26	PROPN
iiclr-27370	67	172	then	then	ADV
iiclr-27370	67	173	,	,	PUNCT
iiclr-27370	67	174	after	after	ADP
iiclr-27370	67	175	only	only	ADV
iiclr-27370	67	176	a	a	DET
iiclr-27370	67	177	few	few	ADJ
iiclr-27370	67	178	months	month	NOUN
iiclr-27370	67	179	,	,	PUNCT
iiclr-27370	67	180	the	the	DET
iiclr-27370	67	181	company	company	NOUN
iiclr-27370	67	182	stopped	stop	VERB
iiclr-27370	67	183	paying	pay	VERB
iiclr-27370	67	184	recruitment	recruitment	NOUN
iiclr-27370	67	185	rewards	reward	NOUN
iiclr-27370	67	186	altogether	altogether	ADV
iiclr-27370	67	187	and	and	CCONJ
iiclr-27370	67	188	the	the	DET
iiclr-27370	67	189	developers	developer	NOUN
iiclr-27370	67	190	disappeared	disappear	VERB
iiclr-27370	67	191	without	without	ADP
iiclr-27370	67	192	a	a	DET
iiclr-27370	67	193	trace	trace	NOUN
iiclr-27370	67	194	,	,	PUNCT
iiclr-27370	67	195	taking	take	VERB
iiclr-27370	67	196	the	the	DET
iiclr-27370	67	197	investments	investment	NOUN
iiclr-27370	67	198	of	of	ADP
iiclr-27370	67	199	their	their	PRON
iiclr-27370	67	200	coin	coin	NOUN
iiclr-27370	67	201	holders	holder	NOUN
iiclr-27370	67	202	with	with	ADP
iiclr-27370	67	203	them.27	them.27	PROPN
iiclr-27370	67	204	to	to	PART
iiclr-27370	67	205	put	put	VERB
iiclr-27370	67	206	this	this	DET
iiclr-27370	67	207	investor	investor	NOUN
iiclr-27370	67	208	loss	loss	NOUN
iiclr-27370	67	209	into	into	ADP
iiclr-27370	67	210	perspective	perspective	NOUN
iiclr-27370	67	211	,	,	PUNCT
iiclr-27370	67	212	modern	modern	ADJ
iiclr-27370	67	213	tech	tech	NOUN
iiclr-27370	67	214	was	be	AUX
iiclr-27370	67	215	able	able	ADJ
iiclr-27370	67	216	to	to	PART
iiclr-27370	67	217	steal	steal	VERB
iiclr-27370	67	218	an	an	DET
iiclr-27370	67	219	average	average	NOUN
iiclr-27370	67	220	of	of	ADP
iiclr-27370	67	221	$	$	SYM
iiclr-27370	67	222	20,625	20,625	NUM
iiclr-27370	67	223	per	per	ADP
iiclr-27370	67	224	investor	investor	NOUN
iiclr-27370	67	225	from	from	ADP
iiclr-27370	67	226	a	a	DET
iiclr-27370	67	227	total	total	NOUN
iiclr-27370	67	228	of	of	ADP
iiclr-27370	67	229	32,000	32,000	NUM
iiclr-27370	67	230	investors	investor	NOUN
iiclr-27370	67	231	.	.	PUNCT
iiclr-27370	68	1	as	as	SCONJ
iiclr-27370	68	2	if	if	SCONJ
iiclr-27370	68	3	fraudulent	fraudulent	PROPN
iiclr-27370	68	4	icos	ico	NOUN
iiclr-27370	68	5	are	be	AUX
iiclr-27370	68	6	not	not	PART
iiclr-27370	68	7	detrimental	detrimental	ADJ
iiclr-27370	68	8	enough	enough	ADV
iiclr-27370	68	9	—	—	PUNCT
iiclr-27370	68	10	the	the	DET
iiclr-27370	68	11	united	united	PROPN
iiclr-27370	68	12	states	states	PROPN
iiclr-27370	68	13	’	'	PUNCT
iiclr-27370	68	14	failure	failure	NOUN
iiclr-27370	68	15	to	to	PART
iiclr-27370	68	16	adequately	adequately	ADV
iiclr-27370	68	17	regulate	regulate	VERB
iiclr-27370	68	18	cryptocurrency	cryptocurrency	NOUN
iiclr-27370	68	19	effectively	effectively	ADV
iiclr-27370	68	20	fosters	foster	VERB
iiclr-27370	68	21	the	the	DET
iiclr-27370	68	22	growth	growth	NOUN
iiclr-27370	68	23	of	of	ADP
iiclr-27370	68	24	criminal	criminal	ADJ
iiclr-27370	68	25	enterprise	enterprise	NOUN
iiclr-27370	68	26	within	within	ADP
iiclr-27370	68	27	the	the	DET
iiclr-27370	68	28	nation	nation	NOUN
iiclr-27370	68	29	.	.	PUNCT
iiclr-27370	69	1	a	a	DET
iiclr-27370	69	2	report	report	NOUN
iiclr-27370	69	3	of	of	ADP
iiclr-27370	69	4	the	the	DET
iiclr-27370	69	5	attorney	attorney	NOUN
iiclr-27370	69	6	general	general	NOUN
iiclr-27370	69	7	’s	’s	PART
iiclr-27370	69	8	cyber	cyber	PROPN
iiclr-27370	69	9	digital	digital	PROPN
iiclr-27370	69	10	task	task	PROPN
iiclr-27370	69	11	force	force	NOUN
iiclr-27370	69	12	on	on	ADP
iiclr-27370	69	13	cryptocurrency	cryptocurrency	NOUN
iiclr-27370	69	14	states	state	NOUN
iiclr-27370	69	15	that	that	SCONJ
iiclr-27370	69	16	bad	bad	ADJ
iiclr-27370	69	17	actors	actor	NOUN
iiclr-27370	69	18	generally	generally	ADV
iiclr-27370	69	19	use	use	VERB
iiclr-27370	69	20	cryptocurrency	cryptocurrency	NOUN
iiclr-27370	69	21	countries	country	NOUN
iiclr-27370	69	22	;	;	PUNCT
iiclr-27370	69	23	three	three	NUM
iiclr-27370	69	24	different	different	ADJ
iiclr-27370	69	25	directions	direction	NOUN
iiclr-27370	69	26	,	,	PUNCT
iiclr-27370	69	27	45	45	NUM
iiclr-27370	69	28	brook	brook	NOUN
iiclr-27370	69	29	.	.	PUNCT
iiclr-27370	70	1	j.	j.	PROPN
iiclr-27370	70	2	int’l	int’l	PROPN
iiclr-27370	70	3	l.	l.	PROPN
iiclr-27370	70	4	835	835	NUM
iiclr-27370	70	5	,	,	PUNCT
iiclr-27370	70	6	844	844	NUM
iiclr-27370	70	7	(	(	PUNCT
iiclr-27370	70	8	2020	2020	NUM
iiclr-27370	70	9	)	)	PUNCT
iiclr-27370	70	10	.	.	PUNCT
iiclr-27370	71	1	18	18	NUM
iiclr-27370	71	2	.	.	PUNCT
iiclr-27370	72	1	i	i	PRON
iiclr-27370	72	2	d.	d.	PROPN
iiclr-27370	72	3	at	at	ADP
iiclr-27370	72	4	849	849	NUM
iiclr-27370	72	5	.	.	PUNCT
iiclr-27370	72	6	19	19	NUM
iiclr-27370	72	7	.	.	PUNCT
iiclr-27370	73	1	i	i	PRON
iiclr-27370	73	2	d.	d.	PROPN
iiclr-27370	73	3	at	at	ADP
iiclr-27370	73	4	849	849	NUM
iiclr-27370	73	5	-	-	SYM
iiclr-27370	73	6	50	50	NUM
iiclr-27370	73	7	.	.	PUNCT
iiclr-27370	73	8	20	20	NUM
iiclr-27370	73	9	.	.	PUNCT
iiclr-27370	74	1	i	i	PRON
iiclr-27370	74	2	d.	d.	PROPN
iiclr-27370	74	3	at	at	ADP
iiclr-27370	74	4	850	850	NUM
iiclr-27370	74	5	;	;	PUNCT
iiclr-27370	74	6	spotlight	spotlight	NOUN
iiclr-27370	74	7	on	on	ADP
iiclr-27370	74	8	initial	initial	ADJ
iiclr-27370	74	9	coin	coin	NOUN
iiclr-27370	74	10	offerings	offering	NOUN
iiclr-27370	74	11	(	(	PUNCT
iiclr-27370	74	12	icos	icos	PROPN
iiclr-27370	74	13	)	)	PUNCT
iiclr-27370	74	14	,	,	PUNCT
iiclr-27370	74	15	supra	supra	PROPN
iiclr-27370	74	16	note	note	NOUN
iiclr-27370	74	17	14	14	NUM
iiclr-27370	74	18	.	.	PUNCT
iiclr-27370	74	19	21	21	NUM
iiclr-27370	74	20	.	.	PUNCT
iiclr-27370	75	1	klaus	klaus	PROPN
iiclr-27370	75	2	grobys	grobys	PROPN
iiclr-27370	75	3	,	,	PUNCT
iiclr-27370	75	4	did	do	AUX
iiclr-27370	75	5	you	you	PRON
iiclr-27370	75	6	fall	fall	VERB
iiclr-27370	75	7	for	for	ADP
iiclr-27370	75	8	it	it	PRON
iiclr-27370	75	9	?	?	PUNCT
iiclr-27370	76	1	13	13	NUM
iiclr-27370	76	2	ico	ico	PROPN
iiclr-27370	76	3	scams	scam	VERB
iiclr-27370	76	4	that	that	PRON
iiclr-27370	76	5	fooled	fool	VERB
iiclr-27370	76	6	thousands	thousand	NOUN
iiclr-27370	76	7	,	,	PUNCT
iiclr-27370	76	8	cointelegraph	cointelegraph	NOUN
iiclr-27370	76	9	(	(	PUNCT
iiclr-27370	76	10	dec	dec	PROPN
iiclr-27370	76	11	.	.	PROPN
iiclr-27370	76	12	6	6	NUM
iiclr-27370	76	13	,	,	PUNCT
iiclr-27370	76	14	2020	2020	NUM
iiclr-27370	76	15	)	)	PUNCT
iiclr-27370	76	16	,	,	PUNCT
iiclr-27370	76	17	https://cointelegraph.com/news/did-you-fall-for-it-13-ico-scamsthat-fooled-thousands	https://cointelegraph.com/news/did-you-fall-for-it-13-ico-scamsthat-fooled-thousand	VERB
iiclr-27370	77	1	[	[	X
iiclr-27370	77	2	https://perma.cc/dl9e-v6ls	https://perma.cc/dl9e-v6ls	PROPN
iiclr-27370	77	3	]	]	PUNCT
iiclr-27370	77	4	.	.	PUNCT
iiclr-27370	78	1	22	22	NUM
iiclr-27370	78	2	.	.	PUNCT
iiclr-27370	79	1	john	john	PROPN
iiclr-27370	79	2	biggs	biggs	PROPN
iiclr-27370	79	3	,	,	PUNCT
iiclr-27370	79	4	exit	exit	NOUN
iiclr-27370	79	5	scammers	scammer	NOUN
iiclr-27370	79	6	run	run	VERB
iiclr-27370	79	7	off	off	ADP
iiclr-27370	79	8	with	with	ADP
iiclr-27370	79	9	$	$	SYM
iiclr-27370	79	10	660	660	NUM
iiclr-27370	79	11	million	million	NUM
iiclr-27370	79	12	in	in	ADP
iiclr-27370	79	13	ico	ico	PROPN
iiclr-27370	79	14	earnings	earning	NOUN
iiclr-27370	79	15	,	,	PUNCT
iiclr-27370	79	16	techcrunch	techcrunch	NOUN
iiclr-27370	79	17	,	,	PUNCT
iiclr-27370	79	18	(	(	PUNCT
iiclr-27370	79	19	apr	apr	PROPN
iiclr-27370	79	20	.	.	PROPN
iiclr-27370	79	21	13	13	NUM
iiclr-27370	79	22	,	,	PUNCT
iiclr-27370	79	23	2018	2018	NUM
iiclr-27370	79	24	,	,	PUNCT
iiclr-27370	79	25	9:27	9:27	NUM
iiclr-27370	79	26	am	am	NOUN
iiclr-27370	79	27	edt	edt	NOUN
iiclr-27370	79	28	)	)	PUNCT
iiclr-27370	80	1	https://techcrunch.com/2018/04/13/exit-scammers-run-off-with660-million-in-ico-earnings/	https://techcrunch.com/2018/04/13/exit-scammers-run-off-with660-million-in-ico-earnings/	PROPN
iiclr-27370	81	1	[	[	X
iiclr-27370	81	2	https://perma.cc/dhn3-kl3d	https://perma.cc/dhn3-kl3d	NUM
iiclr-27370	81	3	]	]	X
iiclr-27370	81	4	.	.	PUNCT
iiclr-27370	82	1	23	23	NUM
iiclr-27370	82	2	.	.	PUNCT
iiclr-27370	83	1	i	i	PRON
iiclr-27370	83	2	d.	d.	PROPN
iiclr-27370	83	3	24	24	NUM
iiclr-27370	83	4	.	.	PUNCT
iiclr-27370	84	1	david	david	PROPN
iiclr-27370	84	2	floyd	floyd	PROPN
iiclr-27370	84	3	,	,	PUNCT
iiclr-27370	84	4	vietnam	vietnam	PROPN
iiclr-27370	84	5	investigates	investigate	VERB
iiclr-27370	84	6	ico	ico	PROPN
iiclr-27370	84	7	fraud	fraud	NOUN
iiclr-27370	84	8	after	after	ADP
iiclr-27370	84	9	$	$	SYM
iiclr-27370	84	10	660	660	NUM
iiclr-27370	84	11	million	million	NUM
iiclr-27370	84	12	in	in	ADP
iiclr-27370	84	13	losses	loss	NOUN
iiclr-27370	84	14	reported	report	VERB
iiclr-27370	84	15	,	,	PUNCT
iiclr-27370	84	16	coindesk	coindesk	NOUN
iiclr-27370	84	17	,	,	PUNCT
iiclr-27370	84	18	https://www.coindesk.com/markets/2018/04/11/vietnam-investigates-ico-fraud-after660-million-in-losses-reported/	https://www.coindesk.com/markets/2018/04/11/vietnam-investigates-ico-fraud-after660-million-in-losses-reported/	PROPN
iiclr-27370	85	1	[	[	X
iiclr-27370	85	2	https://perma.cc/4zmu-sdak	https://perma.cc/4zmu-sdak	PROPN
iiclr-27370	85	3	]	]	X
iiclr-27370	85	4	(	(	PUNCT
iiclr-27370	85	5	sept	sept	PROPN
iiclr-27370	85	6	.	.	PROPN
iiclr-27370	85	7	13	13	NUM
iiclr-27370	85	8	,	,	PUNCT
iiclr-27370	85	9	2021	2021	NUM
iiclr-27370	85	10	,	,	PUNCT
iiclr-27370	85	11	3:48	3:48	NUM
iiclr-27370	85	12	am	be	AUX
iiclr-27370	85	13	edt	edt	PROPN
iiclr-27370	85	14	)	)	PUNCT
iiclr-27370	85	15	.	.	PUNCT
iiclr-27370	86	1	25	25	NUM
iiclr-27370	86	2	.	.	PUNCT
iiclr-27370	86	3	biggs	biggs	PROPN
iiclr-27370	86	4	,	,	PUNCT
iiclr-27370	86	5	supra	supra	PROPN
iiclr-27370	86	6	note	note	NOUN
iiclr-27370	86	7	22	22	NUM
iiclr-27370	86	8	.	.	PUNCT
iiclr-27370	87	1	26	26	NUM
iiclr-27370	87	2	.	.	PUNCT
iiclr-27370	88	1	i	i	PRON
iiclr-27370	88	2	d.	d.	PROPN
iiclr-27370	88	3	27	27	NUM
iiclr-27370	88	4	.	.	PUNCT
iiclr-27370	89	1	i	i	PRON
iiclr-27370	89	2	d.	d.	PROPN
iiclr-27370	89	3	2023	2023	NUM
iiclr-27370	89	4	]	]	PUNCT
iiclr-27370	89	5	the	the	DET
iiclr-27370	89	6	wild	wild	ADJ
iiclr-27370	89	7	west	west	NOUN
iiclr-27370	89	8	,	,	PUNCT
iiclr-27370	89	9	cryptocurrency	cryptocurrency	NOUN
iiclr-27370	89	10	,	,	PUNCT
iiclr-27370	89	11	and	and	CCONJ
iiclr-27370	89	12	singapore	singapore	PROPN
iiclr-27370	89	13	195	195	NUM
iiclr-27370	89	14	for	for	ADP
iiclr-27370	89	15	criminal	criminal	ADJ
iiclr-27370	89	16	enterprise	enterprise	NOUN
iiclr-27370	89	17	in	in	ADP
iiclr-27370	89	18	one	one	NUM
iiclr-27370	89	19	of	of	ADP
iiclr-27370	89	20	three	three	NUM
iiclr-27370	89	21	ways	way	NOUN
iiclr-27370	89	22	:	:	PUNCT
iiclr-27370	89	23	(	(	PUNCT
iiclr-27370	89	24	1	1	X
iiclr-27370	89	25	)	)	PUNCT
iiclr-27370	89	26	to	to	PART
iiclr-27370	89	27	engage	engage	VERB
iiclr-27370	89	28	in	in	ADP
iiclr-27370	89	29	financial	financial	ADJ
iiclr-27370	89	30	transactions	transaction	NOUN
iiclr-27370	89	31	associated	associate	VERB
iiclr-27370	89	32	with	with	ADP
iiclr-27370	89	33	the	the	DET
iiclr-27370	89	34	commission	commission	NOUN
iiclr-27370	89	35	of	of	ADP
iiclr-27370	89	36	crimes	crime	NOUN
iiclr-27370	89	37	,	,	PUNCT
iiclr-27370	89	38	such	such	ADJ
iiclr-27370	89	39	as	as	ADP
iiclr-27370	89	40	buying	buy	VERB
iiclr-27370	89	41	and	and	CCONJ
iiclr-27370	89	42	selling	sell	VERB
iiclr-27370	89	43	illegal	illegal	ADJ
iiclr-27370	89	44	contraband	contraband	NOUN
iiclr-27370	89	45	on	on	ADP
iiclr-27370	89	46	the	the	DET
iiclr-27370	89	47	dark	dark	ADJ
iiclr-27370	89	48	web	web	NOUN
iiclr-27370	89	49	or	or	CCONJ
iiclr-27370	89	50	soliciting	solicit	VERB
iiclr-27370	89	51	funds	fund	NOUN
iiclr-27370	89	52	to	to	PART
iiclr-27370	89	53	support	support	VERB
iiclr-27370	89	54	terrorism	terrorism	NOUN
iiclr-27370	89	55	;	;	PUNCT
iiclr-27370	89	56	(	(	PUNCT
iiclr-27370	89	57	2	2	X
iiclr-27370	89	58	)	)	PUNCT
iiclr-27370	89	59	to	to	PART
iiclr-27370	89	60	engage	engage	VERB
iiclr-27370	89	61	in	in	ADP
iiclr-27370	89	62	money	money	NOUN
iiclr-27370	89	63	laundering	laundering	NOUN
iiclr-27370	89	64	or	or	CCONJ
iiclr-27370	89	65	to	to	PART
iiclr-27370	89	66	shield	shield	VERB
iiclr-27370	89	67	themselves	themselves	PRON
iiclr-27370	89	68	from	from	ADP
iiclr-27370	89	69	tax	tax	NOUN
iiclr-27370	89	70	,	,	PUNCT
iiclr-27370	89	71	reporting	reporting	NOUN
iiclr-27370	89	72	,	,	PUNCT
iiclr-27370	89	73	or	or	CCONJ
iiclr-27370	89	74	other	other	ADJ
iiclr-27370	89	75	requirements	requirement	NOUN
iiclr-27370	89	76	imposed	impose	VERB
iiclr-27370	89	77	by	by	ADP
iiclr-27370	89	78	law	law	NOUN
iiclr-27370	89	79	;	;	PUNCT
iiclr-27370	89	80	or	or	CCONJ
iiclr-27370	89	81	(	(	PUNCT
iiclr-27370	89	82	3	3	X
iiclr-27370	89	83	)	)	PUNCT
iiclr-27370	89	84	to	to	PART
iiclr-27370	89	85	commit	commit	VERB
iiclr-27370	89	86	crimes	crime	NOUN
iiclr-27370	89	87	directly	directly	ADV
iiclr-27370	89	88	implicating	implicate	VERB
iiclr-27370	89	89	the	the	DET
iiclr-27370	89	90	cryptocurrency	cryptocurrency	NOUN
iiclr-27370	89	91	marketplace	marketplace	NOUN
iiclr-27370	89	92	itself	itself	PRON
iiclr-27370	89	93	,	,	PUNCT
iiclr-27370	89	94	like	like	ADP
iiclr-27370	89	95	stealing	steal	VERB
iiclr-27370	89	96	cryptocurrency	cryptocurrency	NOUN
iiclr-27370	89	97	from	from	ADP
iiclr-27370	89	98	exchanges	exchange	NOUN
iiclr-27370	89	99	through	through	ADP
iiclr-27370	89	100	hacking	hack	VERB
iiclr-27370	89	101	or	or	CCONJ
iiclr-27370	89	102	by	by	ADP
iiclr-27370	89	103	defrauding	defraud	VERB
iiclr-27370	89	104	unwitting	unwitting	ADJ
iiclr-27370	89	105	investors.28	investors.28	NOUN
iiclr-27370	89	106	one	one	NUM
iiclr-27370	89	107	of	of	ADP
iiclr-27370	89	108	the	the	DET
iiclr-27370	89	109	more	more	ADV
iiclr-27370	89	110	prevalent	prevalent	ADJ
iiclr-27370	89	111	ways	way	NOUN
iiclr-27370	89	112	in	in	ADP
iiclr-27370	89	113	which	which	PRON
iiclr-27370	89	114	crypto	crypto	NOUN
iiclr-27370	89	115	assets	asset	NOUN
iiclr-27370	89	116	are	be	AUX
iiclr-27370	89	117	used	use	VERB
iiclr-27370	89	118	by	by	ADP
iiclr-27370	89	119	criminal	criminal	ADJ
iiclr-27370	89	120	organizations	organization	NOUN
iiclr-27370	89	121	is	be	AUX
iiclr-27370	89	122	for	for	ADP
iiclr-27370	89	123	the	the	DET
iiclr-27370	89	124	purposes	purpose	NOUN
iiclr-27370	89	125	of	of	ADP
iiclr-27370	89	126	money	money	NOUN
iiclr-27370	89	127	laundering.29	laundering.29	PROPN
iiclr-27370	89	128	often	often	ADV
iiclr-27370	89	129	,	,	PUNCT
iiclr-27370	89	130	criminals	criminal	NOUN
iiclr-27370	89	131	are	be	AUX
iiclr-27370	89	132	paid	pay	VERB
iiclr-27370	89	133	in	in	ADP
iiclr-27370	89	134	cryptocurrency	cryptocurrency	NOUN
iiclr-27370	89	135	for	for	ADP
iiclr-27370	89	136	illegal	illegal	ADJ
iiclr-27370	89	137	activities	activity	NOUN
iiclr-27370	89	138	,	,	PUNCT
iiclr-27370	89	139	such	such	ADJ
iiclr-27370	89	140	as	as	ADP
iiclr-27370	89	141	dark	dark	ADJ
iiclr-27370	89	142	web	web	NOUN
iiclr-27370	89	143	commerce	commerce	PROPN
iiclr-27370	89	144	and	and	CCONJ
iiclr-27370	89	145	terrorism	terrorism	NOUN
iiclr-27370	89	146	funding	funding	NOUN
iiclr-27370	89	147	,	,	PUNCT
iiclr-27370	89	148	because	because	SCONJ
iiclr-27370	89	149	regulated	regulated	ADJ
iiclr-27370	89	150	institutional	institutional	ADJ
iiclr-27370	89	151	payment	payment	NOUN
iiclr-27370	89	152	processors	processor	NOUN
iiclr-27370	89	153	,	,	PUNCT
iiclr-27370	89	154	such	such	ADJ
iiclr-27370	89	155	as	as	ADP
iiclr-27370	89	156	visa	visa	NOUN
iiclr-27370	89	157	or	or	CCONJ
iiclr-27370	89	158	mastercard	mastercard	NOUN
iiclr-27370	89	159	,	,	PUNCT
iiclr-27370	89	160	will	will	AUX
iiclr-27370	89	161	not	not	PART
iiclr-27370	89	162	allow	allow	VERB
iiclr-27370	89	163	their	their	PRON
iiclr-27370	89	164	services	service	NOUN
iiclr-27370	89	165	to	to	PART
iiclr-27370	89	166	be	be	AUX
iiclr-27370	89	167	used	use	VERB
iiclr-27370	89	168	if	if	SCONJ
iiclr-27370	89	169	a	a	DET
iiclr-27370	89	170	transaction	transaction	NOUN
iiclr-27370	89	171	appears	appear	VERB
iiclr-27370	89	172	suspect	suspect	ADJ
iiclr-27370	89	173	or	or	CCONJ
iiclr-27370	89	174	potentially	potentially	ADV
iiclr-27370	89	175	illegal.30	illegal.30	VERB
iiclr-27370	89	176	to	to	PART
iiclr-27370	89	177	solve	solve	VERB
iiclr-27370	89	178	this	this	DET
iiclr-27370	89	179	problem	problem	NOUN
iiclr-27370	89	180	,	,	PUNCT
iiclr-27370	89	181	criminals	criminal	NOUN
iiclr-27370	89	182	have	have	AUX
iiclr-27370	89	183	begun	begin	VERB
iiclr-27370	89	184	to	to	PART
iiclr-27370	89	185	use	use	VERB
iiclr-27370	89	186	cryptocurrency	cryptocurrency	NOUN
iiclr-27370	89	187	,	,	PUNCT
iiclr-27370	89	188	as	as	SCONJ
iiclr-27370	89	189	it	it	PRON
iiclr-27370	89	190	allows	allow	VERB
iiclr-27370	89	191	them	they	PRON
iiclr-27370	89	192	to	to	PART
iiclr-27370	89	193	easily	easily	ADV
iiclr-27370	89	194	launder	launder	VERB
iiclr-27370	89	195	their	their	PRON
iiclr-27370	89	196	ill	ill	ADV
iiclr-27370	89	197	-	-	PUNCT
iiclr-27370	89	198	gotten	get	VERB
iiclr-27370	89	199	crypto	crypto	NOUN
iiclr-27370	89	200	to	to	ADP
iiclr-27370	89	201	government	government	NOUN
iiclr-27370	89	202	-	-	PUNCT
iiclr-27370	89	203	issued	issue	VERB
iiclr-27370	89	204	currency	currency	NOUN
iiclr-27370	89	205	,	,	PUNCT
iiclr-27370	89	206	also	also	ADV
iiclr-27370	89	207	known	know	VERB
iiclr-27370	89	208	as	as	ADP
iiclr-27370	89	209	fiat	fiat	ADJ
iiclr-27370	89	210	currency	currency	NOUN
iiclr-27370	89	211	,	,	PUNCT
iiclr-27370	89	212	simply	simply	ADV
iiclr-27370	89	213	by	by	ADP
iiclr-27370	89	214	utilizing	utilize	VERB
iiclr-27370	89	215	a	a	DET
iiclr-27370	89	216	cryptocurrency	cryptocurrency	NOUN
iiclr-27370	89	217	exchange.31	exchange.31	NOUN
iiclr-27370	89	218	indeed	indeed	ADV
iiclr-27370	89	219	,	,	PUNCT
iiclr-27370	89	220	the	the	DET
iiclr-27370	89	221	anonymous	anonymous	ADJ
iiclr-27370	89	222	,	,	PUNCT
iiclr-27370	89	223	decentralized	decentralize	VERB
iiclr-27370	89	224	nature	nature	NOUN
iiclr-27370	89	225	of	of	ADP
iiclr-27370	89	226	cryptocurrency	cryptocurrency	NOUN
iiclr-27370	89	227	and	and	CCONJ
iiclr-27370	89	228	blockchain	blockchain	PROPN
iiclr-27370	89	229	technology	technology	PROPN
iiclr-27370	89	230	makes	make	VERB
iiclr-27370	89	231	it	it	PRON
iiclr-27370	89	232	an	an	DET
iiclr-27370	89	233	appealing	appealing	ADJ
iiclr-27370	89	234	,	,	PUNCT
iiclr-27370	89	235	available	available	ADJ
iiclr-27370	89	236	,	,	PUNCT
iiclr-27370	89	237	and	and	CCONJ
iiclr-27370	89	238	easy	easy	ADJ
iiclr-27370	89	239	option	option	NOUN
iiclr-27370	89	240	for	for	ADP
iiclr-27370	89	241	criminals	criminal	NOUN
iiclr-27370	89	242	,	,	PUNCT
iiclr-27370	89	243	hackers	hacker	NOUN
iiclr-27370	89	244	,	,	PUNCT
iiclr-27370	89	245	blackmailers	blackmailer	NOUN
iiclr-27370	89	246	,	,	PUNCT
iiclr-27370	89	247	and	and	CCONJ
iiclr-27370	89	248	ransomware	ransomware	NOUN
iiclr-27370	89	249	attackers	attacker	NOUN
iiclr-27370	89	250	looking	look	VERB
iiclr-27370	89	251	to	to	PART
iiclr-27370	89	252	carry	carry	VERB
iiclr-27370	89	253	out	out	ADP
iiclr-27370	89	254	illegal	illegal	ADJ
iiclr-27370	89	255	transactions	transaction	NOUN
iiclr-27370	89	256	without	without	ADP
iiclr-27370	89	257	raising	raise	VERB
iiclr-27370	89	258	suspicions	suspicion	NOUN
iiclr-27370	89	259	from	from	ADP
iiclr-27370	89	260	institutional	institutional	ADJ
iiclr-27370	89	261	authorities	authority	NOUN
iiclr-27370	89	262	who	who	PRON
iiclr-27370	89	263	oversee	oversee	VERB
iiclr-27370	89	264	traditional	traditional	ADJ
iiclr-27370	89	265	financial	financial	ADJ
iiclr-27370	89	266	institutions.32	institutions.32	NOUN
iiclr-27370	89	267	furthermore	furthermore	ADV
iiclr-27370	89	268	,	,	PUNCT
iiclr-27370	89	269	the	the	DET
iiclr-27370	89	270	crypto	crypto	NOUN
iiclr-27370	89	271	market	market	NOUN
iiclr-27370	89	272	has	have	AUX
iiclr-27370	89	273	proved	prove	VERB
iiclr-27370	89	274	to	to	PART
iiclr-27370	89	275	be	be	AUX
iiclr-27370	89	276	exceedingly	exceedingly	ADV
iiclr-27370	89	277	volatile	volatile	ADJ
iiclr-27370	89	278	,	,	PUNCT
iiclr-27370	89	279	thus	thus	ADV
iiclr-27370	89	280	exposing	expose	VERB
iiclr-27370	89	281	investors	investor	NOUN
iiclr-27370	89	282	to	to	ADP
iiclr-27370	89	283	an	an	DET
iiclr-27370	89	284	even	even	ADV
iiclr-27370	89	285	greater	great	ADJ
iiclr-27370	89	286	risk.33	risk.33	NOUN
iiclr-27370	89	287	the	the	DET
iiclr-27370	89	288	market	market	NOUN
iiclr-27370	89	289	,	,	PUNCT
iiclr-27370	89	290	in	in	ADP
iiclr-27370	89	291	its	its	PRON
iiclr-27370	89	292	current	current	ADJ
iiclr-27370	89	293	state	state	NOUN
iiclr-27370	89	294	,	,	PUNCT
iiclr-27370	89	295	is	be	AUX
iiclr-27370	89	296	heavily	heavily	ADV
iiclr-27370	89	297	influenced	influence	VERB
iiclr-27370	89	298	by	by	ADP
iiclr-27370	89	299	market	market	NOUN
iiclr-27370	89	300	manipulation	manipulation	NOUN
iiclr-27370	89	301	and	and	CCONJ
iiclr-27370	89	302	a	a	DET
iiclr-27370	89	303	lack	lack	NOUN
iiclr-27370	89	304	of	of	ADP
iiclr-27370	89	305	investor	investor	NOUN
iiclr-27370	89	306	protection	protection	NOUN
iiclr-27370	89	307	measures.34	measures.34	NOUN
iiclr-27370	89	308	market	market	NOUN
iiclr-27370	89	309	manipulation	manipulation	NOUN
iiclr-27370	89	310	is	be	AUX
iiclr-27370	89	311	defined	define	VERB
iiclr-27370	89	312	as	as	ADP
iiclr-27370	89	313	“	"	PUNCT
iiclr-27370	89	314	an	an	DET
iiclr-27370	89	315	attempt	attempt	NOUN
iiclr-27370	89	316	to	to	PART
iiclr-27370	89	317	artificially	artificially	ADV
iiclr-27370	89	318	influence	influence	VERB
iiclr-27370	89	319	an	an	DET
iiclr-27370	89	320	asset	asset	NOUN
iiclr-27370	89	321	’s	’s	PART
iiclr-27370	89	322	price	price	NOUN
iiclr-27370	89	323	or	or	CCONJ
iiclr-27370	89	324	the	the	DET
iiclr-27370	89	325	behavior	behavior	NOUN
iiclr-27370	89	326	of	of	ADP
iiclr-27370	89	327	the	the	DET
iiclr-27370	89	328	markets	market	NOUN
iiclr-27370	89	329	,	,	PUNCT
iiclr-27370	89	330	”	"	PUNCT
iiclr-27370	89	331	and	and	CCONJ
iiclr-27370	89	332	it	it	PRON
iiclr-27370	89	333	is	be	AUX
iiclr-27370	89	334	done	do	VERB
iiclr-27370	89	335	using	use	VERB
iiclr-27370	89	336	a	a	DET
iiclr-27370	89	337	variety	variety	NOUN
iiclr-27370	89	338	of	of	ADP
iiclr-27370	89	339	techniques	technique	NOUN
iiclr-27370	89	340	,	,	PUNCT
iiclr-27370	89	341	including	include	VERB
iiclr-27370	89	342	pump	pump	NOUN
iiclr-27370	89	343	and	and	CCONJ
iiclr-27370	89	344	dumps	dump	NOUN
iiclr-27370	89	345	and	and	CCONJ
iiclr-27370	89	346	wash	wash	VERB
iiclr-27370	89	347	trading.35	trading.35	NOUN
iiclr-27370	89	348	by	by	ADP
iiclr-27370	89	349	manipulating	manipulate	VERB
iiclr-27370	89	350	28	28	NUM
iiclr-27370	89	351	.	.	PUNCT
iiclr-27370	90	1	u.s	u.s	PROPN
iiclr-27370	90	2	.	.	PROPN
iiclr-27370	90	3	dep’t	dep’t	NOUN
iiclr-27370	90	4	of	of	ADP
iiclr-27370	90	5	just	just	ADV
iiclr-27370	90	6	.	.	PUNCT
iiclr-27370	90	7	,	,	PUNCT
iiclr-27370	90	8	report	report	NOUN
iiclr-27370	90	9	of	of	ADP
iiclr-27370	90	10	the	the	DET
iiclr-27370	90	11	attorney	attorney	NOUN
iiclr-27370	90	12	general	general	NOUN
iiclr-27370	90	13	’s	’s	PART
iiclr-27370	90	14	cyber	cyber	PROPN
iiclr-27370	90	15	digital	digital	PROPN
iiclr-27370	90	16	task	task	PROPN
iiclr-27370	90	17	force	force	NOUN
iiclr-27370	90	18	:	:	PUNCT
iiclr-27370	90	19	cryptocurrency	cryptocurrency	NOUN
iiclr-27370	90	20	5	5	NUM
iiclr-27370	90	21	-	-	SYM
iiclr-27370	90	22	6	6	NUM
iiclr-27370	90	23	(	(	PUNCT
iiclr-27370	90	24	oct	oct	PROPN
iiclr-27370	90	25	.	.	PROPN
iiclr-27370	90	26	2020	2020	NUM
iiclr-27370	90	27	)	)	PUNCT
iiclr-27370	90	28	.	.	PUNCT
iiclr-27370	91	1	29	29	NUM
iiclr-27370	91	2	.	.	PUNCT
iiclr-27370	92	1	alexandra	alexandra	PROPN
iiclr-27370	92	2	comolli	comolli	PROPN
iiclr-27370	92	3	&	&	CCONJ
iiclr-27370	92	4	michele	michele	PROPN
iiclr-27370	92	5	r.	r.	PROPN
iiclr-27370	92	6	korver	korver	PROPN
iiclr-27370	92	7	,	,	PUNCT
iiclr-27370	92	8	surfing	surf	VERB
iiclr-27370	92	9	the	the	DET
iiclr-27370	92	10	first	first	ADJ
iiclr-27370	92	11	wave	wave	NOUN
iiclr-27370	92	12	of	of	ADP
iiclr-27370	92	13	cryptocurrency	cryptocurrency	NOUN
iiclr-27370	92	14	money	money	NOUN
iiclr-27370	92	15	laundering	laundering	NOUN
iiclr-27370	92	16	,	,	PUNCT
iiclr-27370	92	17	69	69	NUM
iiclr-27370	92	18	doj	doj	PROPN
iiclr-27370	92	19	j.	j.	PROPN
iiclr-27370	92	20	fed	fed	PROPN
iiclr-27370	92	21	.	.	PUNCT
iiclr-27370	93	1	l.	l.	PROPN
iiclr-27370	93	2	&	&	CCONJ
iiclr-27370	93	3	prac	prac	PROPN
iiclr-27370	93	4	.	.	PROPN
iiclr-27370	93	5	,	,	PUNCT
iiclr-27370	93	6	no	no	INTJ
iiclr-27370	93	7	.	.	NOUN
iiclr-27370	94	1	3	3	NUM
iiclr-27370	94	2	,	,	PUNCT
iiclr-27370	94	3	183	183	NUM
iiclr-27370	94	4	(	(	PUNCT
iiclr-27370	94	5	2021	2021	NUM
iiclr-27370	94	6	)	)	PUNCT
iiclr-27370	94	7	.	.	PUNCT
iiclr-27370	95	1	30	30	NUM
iiclr-27370	95	2	.	.	PUNCT
iiclr-27370	96	1	i	i	PRON
iiclr-27370	96	2	d.	d.	PROPN
iiclr-27370	96	3	at	at	ADP
iiclr-27370	96	4	190	190	NUM
iiclr-27370	96	5	.	.	PUNCT
iiclr-27370	97	1	31	31	NUM
iiclr-27370	97	2	.	.	PUNCT
iiclr-27370	98	1	see	see	VERB
iiclr-27370	98	2	i	i	PRON
iiclr-27370	98	3	d.	d.	PROPN
iiclr-27370	98	4	at	at	ADP
iiclr-27370	98	5	191	191	NUM
iiclr-27370	98	6	;	;	PUNCT
iiclr-27370	98	7	see	see	VERB
iiclr-27370	98	8	also	also	ADV
iiclr-27370	98	9	james	james	PROPN
iiclr-27370	98	10	chen	chen	PROPN
iiclr-27370	98	11	,	,	PUNCT
iiclr-27370	98	12	what	what	PRON
iiclr-27370	98	13	is	be	AUX
iiclr-27370	98	14	fiat	fiat	ADJ
iiclr-27370	98	15	money	money	NOUN
iiclr-27370	98	16	?	?	PUNCT
iiclr-27370	98	17	,	,	PUNCT
iiclr-27370	98	18	investopedia	investopedia	PROPN
iiclr-27370	98	19	(	(	PUNCT
iiclr-27370	98	20	oct	oct	PROPN
iiclr-27370	98	21	.	.	PROPN
iiclr-27370	98	22	26	26	NUM
iiclr-27370	98	23	,	,	PUNCT
iiclr-27370	98	24	2021	2021	NUM
iiclr-27370	98	25	)	)	PUNCT
iiclr-27370	98	26	,	,	PUNCT
iiclr-27370	98	27	https://www.investopedia.com/terms/f/fiatmoney.asp	https://www.investopedia.com/terms/f/fiatmoney.asp	VERB
iiclr-27370	99	1	[	[	X
iiclr-27370	99	2	https://perma.cc/8hmr-wjma	https://perma.cc/8hmr-wjma	X
iiclr-27370	99	3	]	]	X
iiclr-27370	99	4	(	(	PUNCT
iiclr-27370	99	5	explaining	explain	VERB
iiclr-27370	99	6	that	that	SCONJ
iiclr-27370	99	7	fiat	fiat	ADJ
iiclr-27370	99	8	currency	currency	NOUN
iiclr-27370	99	9	is	be	AUX
iiclr-27370	99	10	“	"	PUNCT
iiclr-27370	99	11	government	government	NOUN
iiclr-27370	99	12	-	-	PUNCT
iiclr-27370	99	13	issued	issue	VERB
iiclr-27370	99	14	currency	currency	NOUN
iiclr-27370	99	15	that	that	PRON
iiclr-27370	99	16	is	be	AUX
iiclr-27370	99	17	not	not	PART
iiclr-27370	99	18	backed	back	VERB
iiclr-27370	99	19	by	by	ADP
iiclr-27370	99	20	a	a	DET
iiclr-27370	99	21	physical	physical	ADJ
iiclr-27370	99	22	commodity	commodity	NOUN
iiclr-27370	99	23	,	,	PUNCT
iiclr-27370	99	24	such	such	ADJ
iiclr-27370	99	25	as	as	ADP
iiclr-27370	99	26	gold	gold	NOUN
iiclr-27370	99	27	or	or	CCONJ
iiclr-27370	99	28	silver	silver	NOUN
iiclr-27370	99	29	,	,	PUNCT
iiclr-27370	99	30	but	but	CCONJ
iiclr-27370	99	31	rather	rather	ADV
iiclr-27370	99	32	by	by	ADP
iiclr-27370	99	33	the	the	DET
iiclr-27370	99	34	government	government	NOUN
iiclr-27370	99	35	that	that	PRON
iiclr-27370	99	36	issued	issue	VERB
iiclr-27370	99	37	it	it	PRON
iiclr-27370	99	38	”	"	PUNCT
iiclr-27370	99	39	)	)	PUNCT
iiclr-27370	99	40	.	.	PUNCT
iiclr-27370	100	1	32	32	NUM
iiclr-27370	100	2	.	.	PUNCT
iiclr-27370	101	1	nikita	nikita	PROPN
iiclr-27370	101	2	malik	malik	PROPN
iiclr-27370	101	3	,	,	PUNCT
iiclr-27370	101	4	how	how	SCONJ
iiclr-27370	101	5	criminals	criminal	NOUN
iiclr-27370	101	6	and	and	CCONJ
iiclr-27370	101	7	terrorists	terrorist	NOUN
iiclr-27370	101	8	use	use	VERB
iiclr-27370	101	9	cryptocurrency	cryptocurrency	NOUN
iiclr-27370	101	10	:	:	PUNCT
iiclr-27370	101	11	and	and	CCONJ
iiclr-27370	101	12	how	how	SCONJ
iiclr-27370	101	13	to	to	PART
iiclr-27370	101	14	stop	stop	VERB
iiclr-27370	101	15	it	it	PRON
iiclr-27370	101	16	,	,	PUNCT
iiclr-27370	101	17	forbes	forbes	PROPN
iiclr-27370	101	18	(	(	PUNCT
iiclr-27370	101	19	aug	aug	PROPN
iiclr-27370	101	20	.	.	PROPN
iiclr-27370	101	21	31	31	NUM
iiclr-27370	101	22	,	,	PUNCT
iiclr-27370	101	23	2018	2018	NUM
iiclr-27370	101	24	)	)	PUNCT
iiclr-27370	101	25	,	,	PUNCT
iiclr-27370	101	26	https://www.forbes.com/sites/nikitamalik/2018/08/31/how-criminals-andterrorists-use-cryptocurrency-and-how-to-stop-it/?sh=4fa321f03990	https://www.forbes.com/sites/nikitamalik/2018/08/31/how-criminals-andterrorists-use-cryptocurrency-and-how-to-stop-it/?sh=4fa321f03990	PUNCT
iiclr-27370	102	1	[	[	X
iiclr-27370	102	2	https://perma.cc/r7zn9ubd	https://perma.cc/r7zn9ubd	PROPN
iiclr-27370	102	3	]	]	X
iiclr-27370	102	4	;	;	PUNCT
iiclr-27370	102	5	comolli	comolli	PROPN
iiclr-27370	102	6	&	&	CCONJ
iiclr-27370	102	7	korver	korver	PROPN
iiclr-27370	102	8	,	,	PUNCT
iiclr-27370	102	9	supra	supra	PROPN
iiclr-27370	102	10	note	note	PROPN
iiclr-27370	102	11	29	29	NUM
iiclr-27370	102	12	,	,	PUNCT
iiclr-27370	102	13	at	at	ADP
iiclr-27370	102	14	184	184	NUM
iiclr-27370	102	15	-	-	SYM
iiclr-27370	102	16	85	85	NUM
iiclr-27370	102	17	.	.	PUNCT
iiclr-27370	102	18	33	33	NUM
iiclr-27370	102	19	.	.	PUNCT
iiclr-27370	103	1	john	john	PROPN
iiclr-27370	103	2	mccrank	mccrank	PROPN
iiclr-27370	103	3	,	,	PUNCT
iiclr-27370	103	4	u.s	u.s	PROPN
iiclr-27370	103	5	.	.	PROPN
iiclr-27370	103	6	sec	sec	PROPN
iiclr-27370	103	7	chair	chair	NOUN
iiclr-27370	103	8	says	say	VERB
iiclr-27370	103	9	more	more	ADJ
iiclr-27370	103	10	investor	investor	NOUN
iiclr-27370	103	11	protection	protection	NOUN
iiclr-27370	103	12	needed	need	VERB
iiclr-27370	103	13	on	on	ADP
iiclr-27370	103	14	crypto	crypto	NOUN
iiclr-27370	103	15	exchanges	exchange	NOUN
iiclr-27370	103	16	,	,	PUNCT
iiclr-27370	103	17	reuters	reuters	PROPN
iiclr-27370	103	18	(	(	PUNCT
iiclr-27370	103	19	may	may	PROPN
iiclr-27370	103	20	20	20	NUM
iiclr-27370	103	21	,	,	PUNCT
iiclr-27370	103	22	2021	2021	NUM
iiclr-27370	103	23	,	,	PUNCT
iiclr-27370	103	24	5:39	5:39	NUM
iiclr-27370	103	25	pm	pm	NOUN
iiclr-27370	103	26	edt	edt	PROPN
iiclr-27370	103	27	)	)	PUNCT
iiclr-27370	103	28	,	,	PUNCT
iiclr-27370	103	29	https://www.reuters.com/technology/us-secsgensler-says-crypto-exchanges-should-face-more-regulation-2021-05-20/	https://www.reuters.com/technology/us-secsgensler-says-crypto-exchanges-should-face-more-regulation-2021-05-20/	VERB
iiclr-27370	104	1	[	[	X
iiclr-27370	104	2	https://perma.cc/j2ankptp	https://perma.cc/j2ankptp	NOUN
iiclr-27370	104	3	]	]	X
iiclr-27370	104	4	.	.	PUNCT
iiclr-27370	105	1	34	34	NUM
iiclr-27370	105	2	.	.	PUNCT
iiclr-27370	106	1	i	i	PRON
iiclr-27370	106	2	d.	d.	PROPN
iiclr-27370	106	3	35	35	NUM
iiclr-27370	106	4	.	.	PUNCT
iiclr-27370	107	1	what	what	PRON
iiclr-27370	107	2	is	be	AUX
iiclr-27370	107	3	market	market	NOUN
iiclr-27370	107	4	manipulation	manipulation	NOUN
iiclr-27370	107	5	in	in	ADP
iiclr-27370	107	6	cryptocurrency	cryptocurrency	NOUN
iiclr-27370	107	7	?	?	PUNCT
iiclr-27370	107	8	,	,	PUNCT
iiclr-27370	107	9	binance	binance	NOUN
iiclr-27370	107	10	(	(	PUNCT
iiclr-27370	107	11	oct	oct	PROPN
iiclr-27370	107	12	.	.	PROPN
iiclr-27370	107	13	18	18	NUM
iiclr-27370	107	14	,	,	PUNCT
iiclr-27370	107	15	2021	2021	NUM
iiclr-27370	107	16	)	)	PUNCT
iiclr-27370	107	17	,	,	PUNCT
iiclr-27370	107	18	196	196	NUM
iiclr-27370	107	19	indiana	indiana	PROPN
iiclr-27370	107	20	int’l	int’l	NOUN
iiclr-27370	107	21	&	&	CCONJ
iiclr-27370	107	22	comp	comp	PROPN
iiclr-27370	107	23	.	.	PUNCT
iiclr-27370	108	1	law	law	NOUN
iiclr-27370	108	2	review	review	NOUN
iiclr-27370	108	3	[	[	X
iiclr-27370	108	4	vol	vol	NOUN
iiclr-27370	108	5	.	.	PUNCT
iiclr-27370	108	6	33:191	33:191	NUM
iiclr-27370	108	7	crypto	crypto	NOUN
iiclr-27370	108	8	markets	market	NOUN
iiclr-27370	108	9	,	,	PUNCT
iiclr-27370	108	10	bad	bad	ADJ
iiclr-27370	108	11	actors	actor	NOUN
iiclr-27370	108	12	can	can	AUX
iiclr-27370	108	13	create	create	VERB
iiclr-27370	108	14	an	an	DET
iiclr-27370	108	15	illusion	illusion	NOUN
iiclr-27370	108	16	in	in	ADP
iiclr-27370	108	17	that	that	DET
iiclr-27370	108	18	market	market	NOUN
iiclr-27370	108	19	,	,	PUNCT
iiclr-27370	108	20	artificially	artificially	ADV
iiclr-27370	108	21	inflating	inflate	VERB
iiclr-27370	108	22	or	or	CCONJ
iiclr-27370	108	23	deflating	deflate	VERB
iiclr-27370	108	24	the	the	DET
iiclr-27370	108	25	price	price	NOUN
iiclr-27370	108	26	of	of	ADP
iiclr-27370	108	27	an	an	DET
iiclr-27370	108	28	asset	asset	NOUN
iiclr-27370	108	29	for	for	ADP
iiclr-27370	108	30	only	only	ADV
iiclr-27370	108	31	a	a	DET
iiclr-27370	108	32	temporary	temporary	ADJ
iiclr-27370	108	33	time.36	time.36	NOUN
iiclr-27370	108	34	the	the	DET
iiclr-27370	108	35	result	result	NOUN
iiclr-27370	108	36	of	of	ADP
iiclr-27370	108	37	this	this	PRON
iiclr-27370	108	38	is	be	AUX
iiclr-27370	108	39	that	that	SCONJ
iiclr-27370	108	40	crypto	crypto	NOUN
iiclr-27370	108	41	markets	market	NOUN
iiclr-27370	108	42	are	be	AUX
iiclr-27370	108	43	extremely	extremely	ADV
iiclr-27370	108	44	volatile	volatile	ADJ
iiclr-27370	108	45	,	,	PUNCT
iiclr-27370	108	46	risky	risky	ADJ
iiclr-27370	108	47	,	,	PUNCT
iiclr-27370	108	48	and	and	CCONJ
iiclr-27370	108	49	dangerous	dangerous	ADJ
iiclr-27370	108	50	for	for	ADP
iiclr-27370	108	51	investors.37	investors.37	NOUN
iiclr-27370	108	52	given	give	VERB
iiclr-27370	108	53	the	the	DET
iiclr-27370	108	54	current	current	ADJ
iiclr-27370	108	55	regulatory	regulatory	ADJ
iiclr-27370	108	56	backdrop	backdrop	NOUN
iiclr-27370	108	57	of	of	ADP
iiclr-27370	108	58	cryptocurrency	cryptocurrency	NOUN
iiclr-27370	108	59	within	within	ADP
iiclr-27370	108	60	the	the	DET
iiclr-27370	108	61	united	united	PROPN
iiclr-27370	108	62	states	states	PROPN
iiclr-27370	108	63	,	,	PUNCT
iiclr-27370	108	64	market	market	NOUN
iiclr-27370	108	65	manipulation	manipulation	NOUN
iiclr-27370	108	66	can	can	AUX
iiclr-27370	108	67	be	be	AUX
iiclr-27370	108	68	pulled	pull	VERB
iiclr-27370	108	69	off	off	ADP
iiclr-27370	108	70	with	with	ADP
iiclr-27370	108	71	something	something	PRON
iiclr-27370	108	72	as	as	ADV
iiclr-27370	108	73	simple	simple	ADJ
iiclr-27370	108	74	as	as	ADP
iiclr-27370	108	75	a	a	DET
iiclr-27370	108	76	tweet	tweet	NOUN
iiclr-27370	108	77	;	;	PUNCT
iiclr-27370	108	78	however	however	ADV
iiclr-27370	108	79	,	,	PUNCT
iiclr-27370	108	80	as	as	SCONJ
iiclr-27370	108	81	regulations	regulation	NOUN
iiclr-27370	108	82	are	be	AUX
iiclr-27370	108	83	introduced	introduce	VERB
iiclr-27370	108	84	,	,	PUNCT
iiclr-27370	108	85	market	market	NOUN
iiclr-27370	108	86	manipulation	manipulation	NOUN
iiclr-27370	108	87	will	will	AUX
iiclr-27370	108	88	become	become	VERB
iiclr-27370	108	89	more	more	ADJ
iiclr-27370	108	90	difficult.38	difficult.38	NOUN
iiclr-27370	108	91	with	with	ADP
iiclr-27370	108	92	that	that	PRON
iiclr-27370	108	93	being	be	AUX
iiclr-27370	108	94	said	say	VERB
iiclr-27370	108	95	,	,	PUNCT
iiclr-27370	108	96	additional	additional	ADJ
iiclr-27370	108	97	regulatory	regulatory	ADJ
iiclr-27370	108	98	measures	measure	NOUN
iiclr-27370	108	99	are	be	AUX
iiclr-27370	108	100	certainly	certainly	ADV
iiclr-27370	108	101	necessary	necessary	ADJ
iiclr-27370	108	102	to	to	PART
iiclr-27370	108	103	reduce	reduce	VERB
iiclr-27370	108	104	these	these	DET
iiclr-27370	108	105	investor	investor	NOUN
iiclr-27370	108	106	risks	risk	NOUN
iiclr-27370	108	107	and	and	CCONJ
iiclr-27370	108	108	,	,	PUNCT
iiclr-27370	108	109	in	in	ADP
iiclr-27370	108	110	the	the	DET
iiclr-27370	108	111	process	process	NOUN
iiclr-27370	108	112	,	,	PUNCT
iiclr-27370	108	113	legitimize	legitimize	VERB
iiclr-27370	108	114	the	the	DET
iiclr-27370	108	115	crypto	crypto	NOUN
iiclr-27370	108	116	industry	industry	NOUN
iiclr-27370	108	117	.	.	PUNCT
iiclr-27370	109	1	regulation	regulation	NOUN
iiclr-27370	109	2	is	be	AUX
iiclr-27370	109	3	desperately	desperately	ADV
iiclr-27370	109	4	needed	need	VERB
iiclr-27370	109	5	in	in	ADP
iiclr-27370	109	6	order	order	NOUN
iiclr-27370	109	7	to	to	PART
iiclr-27370	109	8	provide	provide	VERB
iiclr-27370	109	9	cryptocurrency	cryptocurrency	NOUN
iiclr-27370	109	10	holders	holder	NOUN
iiclr-27370	109	11	in	in	ADP
iiclr-27370	109	12	the	the	DET
iiclr-27370	109	13	united	united	PROPN
iiclr-27370	109	14	states	states	PROPN
iiclr-27370	109	15	more	more	ADJ
iiclr-27370	109	16	protection	protection	NOUN
iiclr-27370	109	17	against	against	ADP
iiclr-27370	109	18	the	the	DET
iiclr-27370	109	19	plethora	plethora	NOUN
iiclr-27370	109	20	of	of	ADP
iiclr-27370	109	21	dangers	danger	NOUN
iiclr-27370	109	22	,	,	PUNCT
iiclr-27370	109	23	including	include	VERB
iiclr-27370	109	24	extreme	extreme	ADJ
iiclr-27370	109	25	volatility	volatility	NOUN
iiclr-27370	109	26	,	,	PUNCT
iiclr-27370	109	27	that	that	PRON
iiclr-27370	109	28	have	have	AUX
iiclr-27370	109	29	come	come	VERB
iiclr-27370	109	30	to	to	PART
iiclr-27370	109	31	be	be	AUX
iiclr-27370	109	32	associated	associate	VERB
iiclr-27370	109	33	with	with	ADP
iiclr-27370	109	34	the	the	DET
iiclr-27370	109	35	current	current	ADJ
iiclr-27370	109	36	market.39	market.39	NOUN
iiclr-27370	109	37	despite	despite	SCONJ
iiclr-27370	109	38	these	these	DET
iiclr-27370	109	39	glaring	glaring	ADJ
iiclr-27370	109	40	issues	issue	NOUN
iiclr-27370	109	41	,	,	PUNCT
iiclr-27370	109	42	the	the	DET
iiclr-27370	109	43	united	united	PROPN
iiclr-27370	109	44	states	states	PROPN
iiclr-27370	109	45	has	have	AUX
iiclr-27370	109	46	failed	fail	VERB
iiclr-27370	109	47	to	to	PART
iiclr-27370	109	48	implement	implement	VERB
iiclr-27370	109	49	any	any	DET
iiclr-27370	109	50	uniform	uniform	ADJ
iiclr-27370	109	51	federal	federal	ADJ
iiclr-27370	109	52	regulations	regulation	NOUN
iiclr-27370	109	53	to	to	PART
iiclr-27370	109	54	protect	protect	VERB
iiclr-27370	109	55	its	its	PRON
iiclr-27370	109	56	millions	million	NOUN
iiclr-27370	109	57	of	of	ADP
iiclr-27370	109	58	crypto	crypto	NOUN
iiclr-27370	109	59	owners.40	owners.40	ADP
iiclr-27370	109	60	the	the	DET
iiclr-27370	109	61	regulatory	regulatory	ADJ
iiclr-27370	109	62	scheme	scheme	NOUN
iiclr-27370	109	63	currently	currently	ADV
iiclr-27370	109	64	in	in	ADP
iiclr-27370	109	65	use	use	NOUN
iiclr-27370	109	66	in	in	ADP
iiclr-27370	109	67	the	the	DET
iiclr-27370	109	68	united	united	PROPN
iiclr-27370	109	69	states	states	PROPN
iiclr-27370	109	70	is	be	AUX
iiclr-27370	109	71	confusing	confusing	ADJ
iiclr-27370	109	72	,	,	PUNCT
iiclr-27370	109	73	inefficient	inefficient	ADJ
iiclr-27370	109	74	,	,	PUNCT
iiclr-27370	109	75	and	and	CCONJ
iiclr-27370	109	76	ineffective	ineffective	ADJ
iiclr-27370	109	77	.	.	PUNCT
iiclr-27370	110	1	as	as	ADP
iiclr-27370	110	2	a	a	DET
iiclr-27370	110	3	result	result	NOUN
iiclr-27370	110	4	of	of	ADP
iiclr-27370	110	5	this	this	DET
iiclr-27370	110	6	lack	lack	NOUN
iiclr-27370	110	7	of	of	ADP
iiclr-27370	110	8	uniform	uniform	ADJ
iiclr-27370	110	9	federal	federal	ADJ
iiclr-27370	110	10	rules	rule	NOUN
iiclr-27370	110	11	,	,	PUNCT
iiclr-27370	110	12	regulations	regulation	NOUN
iiclr-27370	110	13	have	have	AUX
iiclr-27370	110	14	been	be	AUX
iiclr-27370	110	15	delegated	delegate	VERB
iiclr-27370	110	16	to	to	ADP
iiclr-27370	110	17	a	a	DET
iiclr-27370	110	18	variety	variety	NOUN
iiclr-27370	110	19	of	of	ADP
iiclr-27370	110	20	governmental	governmental	ADJ
iiclr-27370	110	21	agencies	agency	NOUN
iiclr-27370	110	22	,	,	PUNCT
iiclr-27370	110	23	each	each	PRON
iiclr-27370	110	24	of	of	ADP
iiclr-27370	110	25	which	which	PRON
iiclr-27370	110	26	regulates	regulate	VERB
iiclr-27370	110	27	crypto	crypto	NOUN
iiclr-27370	110	28	in	in	ADP
iiclr-27370	110	29	its	its	PRON
iiclr-27370	110	30	own	own	ADJ
iiclr-27370	110	31	separate	separate	ADJ
iiclr-27370	110	32	way.41	way.41	NOUN
iiclr-27370	110	33	this	this	DET
iiclr-27370	110	34	delegation	delegation	NOUN
iiclr-27370	110	35	imposes	impose	VERB
iiclr-27370	110	36	a	a	DET
iiclr-27370	110	37	litany	litany	NOUN
iiclr-27370	110	38	of	of	ADP
iiclr-27370	110	39	rules	rule	NOUN
iiclr-27370	110	40	on	on	ADP
iiclr-27370	110	41	crypto	crypto	NOUN
iiclr-27370	110	42	investors	investor	NOUN
iiclr-27370	110	43	and	and	CCONJ
iiclr-27370	110	44	exchanges	exchange	NOUN
iiclr-27370	110	45	that	that	PRON
iiclr-27370	110	46	are	be	AUX
iiclr-27370	110	47	confusing	confusing	ADJ
iiclr-27370	110	48	,	,	PUNCT
iiclr-27370	110	49	hard	hard	ADJ
iiclr-27370	110	50	to	to	PART
iiclr-27370	110	51	understand	understand	VERB
iiclr-27370	110	52	,	,	PUNCT
iiclr-27370	110	53	and	and	CCONJ
iiclr-27370	110	54	even	even	ADV
iiclr-27370	110	55	harder	hard	ADV
iiclr-27370	110	56	to	to	PART
iiclr-27370	110	57	comply	comply	VERB
iiclr-27370	110	58	with	with	ADP
iiclr-27370	110	59	.	.	PUNCT
iiclr-27370	111	1	ii	ii	PROPN
iiclr-27370	111	2	.	.	PUNCT
iiclr-27370	112	1	america	america	PROPN
iiclr-27370	112	2	’s	’s	PART
iiclr-27370	112	3	agency	agency	PROPN
iiclr-27370	112	4	approach	approach	NOUN
iiclr-27370	112	5	and	and	CCONJ
iiclr-27370	112	6	its	its	PRON
iiclr-27370	112	7	problems	problem	NOUN
iiclr-27370	112	8	the	the	DET
iiclr-27370	112	9	united	united	PROPN
iiclr-27370	112	10	states	states	PROPN
iiclr-27370	112	11	’	'	PUNCT
iiclr-27370	112	12	regulatory	regulatory	ADJ
iiclr-27370	112	13	framework	framework	NOUN
iiclr-27370	112	14	for	for	ADP
iiclr-27370	112	15	cryptocurrency	cryptocurrency	NOUN
iiclr-27370	112	16	is	be	AUX
iiclr-27370	112	17	still	still	ADV
iiclr-27370	112	18	very	very	ADV
iiclr-27370	112	19	much	much	ADJ
iiclr-27370	112	20	evolving	evolving	NOUN
iiclr-27370	112	21	.	.	PUNCT
iiclr-27370	113	1	the	the	DET
iiclr-27370	113	2	sec	sec	PROPN
iiclr-27370	113	3	is	be	AUX
iiclr-27370	113	4	widely	widely	ADV
iiclr-27370	113	5	seen	see	VERB
iiclr-27370	113	6	as	as	ADP
iiclr-27370	113	7	the	the	DET
iiclr-27370	113	8	most	most	ADV
iiclr-27370	113	9	powerful	powerful	ADJ
iiclr-27370	113	10	regulator	regulator	NOUN
iiclr-27370	113	11	,	,	PUNCT
iiclr-27370	113	12	although	although	SCONJ
iiclr-27370	113	13	the	the	DET
iiclr-27370	113	14	treasury	treasury	NOUN
iiclr-27370	113	15	’s	’s	PART
iiclr-27370	113	16	financial	financial	ADJ
iiclr-27370	113	17	crimes	crime	NOUN
iiclr-27370	113	18	enforcement	enforcement	NOUN
iiclr-27370	113	19	network	network	NOUN
iiclr-27370	113	20	(	(	PUNCT
iiclr-27370	113	21	fincen	fincen	PROPN
iiclr-27370	113	22	)	)	PUNCT
iiclr-27370	113	23	,	,	PUNCT
iiclr-27370	113	24	the	the	DET
iiclr-27370	113	25	federal	federal	PROPN
iiclr-27370	113	26	reserve	reserve	PROPN
iiclr-27370	113	27	board	board	PROPN
iiclr-27370	113	28	,	,	PUNCT
iiclr-27370	113	29	and	and	CCONJ
iiclr-27370	113	30	the	the	DET
iiclr-27370	113	31	commodity	commodity	NOUN
iiclr-27370	113	32	futures	futures	PROPN
iiclr-27370	113	33	trading	trading	PROPN
iiclr-27370	113	34	commission	commission	PROPN
iiclr-27370	113	35	(	(	PUNCT
iiclr-27370	113	36	cftc	cftc	PROPN
iiclr-27370	113	37	)	)	PUNCT
iiclr-27370	113	38	have	have	AUX
iiclr-27370	113	39	all	all	PRON
iiclr-27370	113	40	issued	issue	VERB
iiclr-27370	113	41	their	their	PRON
iiclr-27370	113	42	own	own	ADJ
iiclr-27370	113	43	guidance.42	guidance.42	NOUN
iiclr-27370	113	44	further	far	ADV
iiclr-27370	113	45	,	,	PUNCT
iiclr-27370	113	46	each	each	PRON
iiclr-27370	113	47	of	of	ADP
iiclr-27370	113	48	these	these	DET
iiclr-27370	113	49	agencies	agency	NOUN
iiclr-27370	113	50	has	have	AUX
iiclr-27370	113	51	issued	issue	VERB
iiclr-27370	113	52	its	its	PRON
iiclr-27370	113	53	own	own	ADJ
iiclr-27370	113	54	https://www.binance.com/en/blog/fiat/what-is-market-manipulation-in-cryptocurrency421499824684902912	https://www.binance.com/en/blog/fiat/what-is-market-manipulation-in-cryptocurrency421499824684902912	PROPN
iiclr-27370	114	1	[	[	X
iiclr-27370	114	2	https://perma.cc/9cgw-cw44	https://perma.cc/9cgw-cw44	X
iiclr-27370	114	3	]	]	X
iiclr-27370	114	4	.	.	PUNCT
iiclr-27370	115	1	36	36	NUM
iiclr-27370	115	2	.	.	PUNCT
iiclr-27370	116	1	i	i	PRON
iiclr-27370	116	2	d.	d.	PROPN
iiclr-27370	116	3	37	37	NUM
iiclr-27370	116	4	.	.	PUNCT
iiclr-27370	117	1	i	i	PRON
iiclr-27370	117	2	d.	d.	PROPN
iiclr-27370	117	3	38	38	NUM
iiclr-27370	117	4	.	.	PUNCT
iiclr-27370	118	1	i	i	PRON
iiclr-27370	118	2	d.	d.	PROPN
iiclr-27370	118	3	39	39	NUM
iiclr-27370	118	4	.	.	PUNCT
iiclr-27370	119	1	thomas	thomas	PROPN
iiclr-27370	119	2	franck	franck	PROPN
iiclr-27370	119	3	,	,	PUNCT
iiclr-27370	119	4	u.s	u.s	PROPN
iiclr-27370	119	5	.	.	PROPN
iiclr-27370	119	6	treasury	treasury	PROPN
iiclr-27370	119	7	calls	call	VERB
iiclr-27370	119	8	for	for	ADP
iiclr-27370	119	9	stricter	strict	ADJ
iiclr-27370	119	10	cryptocurrency	cryptocurrency	NOUN
iiclr-27370	119	11	compliances	compliance	NOUN
iiclr-27370	119	12	with	with	ADP
iiclr-27370	119	13	irs	irs	PROPN
iiclr-27370	119	14	,	,	PUNCT
iiclr-27370	119	15	says	say	VERB
iiclr-27370	119	16	they	they	PRON
iiclr-27370	119	17	pose	pose	VERB
iiclr-27370	119	18	tax	tax	NOUN
iiclr-27370	119	19	evasion	evasion	NOUN
iiclr-27370	119	20	risk	risk	NOUN
iiclr-27370	119	21	,	,	PUNCT
iiclr-27370	119	22	cnbc	cnbc	PROPN
iiclr-27370	119	23	,	,	PUNCT
iiclr-27370	119	24	https://www.cnbc.com/2021/05/20/us-treasury-calls-forstricter-cryptocurrency-compliance-with-irs.html	https://www.cnbc.com/2021/05/20/us-treasury-calls-forstricter-cryptocurrency-compliance-with-irs.html	X
iiclr-27370	119	25	[	[	X
iiclr-27370	119	26	https://perma.cc/5bdf-dfqq	https://perma.cc/5bdf-dfqq	X
iiclr-27370	119	27	]	]	X
iiclr-27370	119	28	(	(	PUNCT
iiclr-27370	119	29	may	may	PROPN
iiclr-27370	119	30	20	20	NUM
iiclr-27370	119	31	,	,	PUNCT
iiclr-27370	119	32	2021	2021	NUM
iiclr-27370	119	33	,	,	PUNCT
iiclr-27370	119	34	4:03	4:03	NUM
iiclr-27370	119	35	pm	pm	NOUN
iiclr-27370	119	36	edt	edt	PROPN
iiclr-27370	119	37	)	)	PUNCT
iiclr-27370	119	38	.	.	PUNCT
iiclr-27370	120	1	40	40	NUM
iiclr-27370	120	2	.	.	PUNCT
iiclr-27370	121	1	avery	avery	PROPN
iiclr-27370	121	2	minor	minor	PROPN
iiclr-27370	121	3	,	,	PUNCT
iiclr-27370	121	4	cryptocurrency	cryptocurrency	NOUN
iiclr-27370	121	5	regulations	regulation	NOUN
iiclr-27370	121	6	wanted	want	VERB
iiclr-27370	121	7	:	:	PUNCT
iiclr-27370	121	8	iterative	iterative	ADJ
iiclr-27370	121	9	,	,	PUNCT
iiclr-27370	121	10	flexible	flexible	ADJ
iiclr-27370	121	11	,	,	PUNCT
iiclr-27370	121	12	and	and	CCONJ
iiclr-27370	121	13	procompetitive	procompetitive	ADJ
iiclr-27370	121	14	preferred	prefer	VERB
iiclr-27370	121	15	,	,	PUNCT
iiclr-27370	121	16	61	61	NUM
iiclr-27370	121	17	b.c	b.c	PROPN
iiclr-27370	121	18	.	.	PROPN
iiclr-27370	121	19	l.	l.	PROPN
iiclr-27370	121	20	rev	rev	PROPN
iiclr-27370	121	21	.	.	PROPN
iiclr-27370	121	22	1149	1149	NUM
iiclr-27370	121	23	,	,	PUNCT
iiclr-27370	121	24	1181	1181	NUM
iiclr-27370	121	25	(	(	PUNCT
iiclr-27370	121	26	2020	2020	NUM
iiclr-27370	121	27	)	)	PUNCT
iiclr-27370	121	28	.	.	PUNCT
iiclr-27370	122	1	41	41	NUM
iiclr-27370	122	2	.	.	PUNCT
iiclr-27370	123	1	todd	todd	PROPN
iiclr-27370	123	2	ehret	ehret	PROPN
iiclr-27370	123	3	&	&	CCONJ
iiclr-27370	123	4	susannah	susannah	PROPN
iiclr-27370	123	5	hammond	hammond	PROPN
iiclr-27370	123	6	,	,	PUNCT
iiclr-27370	123	7	compendium	compendium	NOUN
iiclr-27370	123	8	—	—	PUNCT
iiclr-27370	123	9	cryptocurrency	cryptocurrency	NOUN
iiclr-27370	123	10	regulations	regulation	NOUN
iiclr-27370	123	11	by	by	ADP
iiclr-27370	123	12	country	country	NOUN
iiclr-27370	123	13	,	,	PUNCT
iiclr-27370	123	14	thomson	thomson	PROPN
iiclr-27370	123	15	reuters	reuters	PROPN
iiclr-27370	123	16	(	(	PUNCT
iiclr-27370	123	17	june	june	PROPN
iiclr-27370	123	18	1	1	NUM
iiclr-27370	123	19	,	,	PUNCT
iiclr-27370	123	20	2021	2021	NUM
iiclr-27370	123	21	)	)	PUNCT
iiclr-27370	123	22	,	,	PUNCT
iiclr-27370	123	23	https://www.thomsonreuters.com/en-us/posts/wpcontent/uploads/sites/20	https://www.thomsonreuters.com/en-us/posts/wpcontent/uploads/sites/20	PROPN
iiclr-27370	123	24	/2021/06	/2021/06	SYM
iiclr-27370	123	25	/compendium_cryptocurrency	/compendium_cryptocurrency	NOUN
iiclr-27370	123	26	-	-	PUNCT
iiclr-27370	123	27	regs_final.pdf	regs_final.pdf	NOUN
iiclr-27370	123	28	[	[	X
iiclr-27370	123	29	https://perma.cc/u3t8-6m5	https://perma.cc/u3t8-6m5	NOUN
iiclr-27370	123	30	m	m	X
iiclr-27370	123	31	]	]	X
iiclr-27370	123	32	.	.	PUNCT
iiclr-27370	124	1	42	42	NUM
iiclr-27370	124	2	.	.	PUNCT
iiclr-27370	125	1	i	i	PRON
iiclr-27370	125	2	d.	d.	PROPN
iiclr-27370	125	3	2023	2023	NUM
iiclr-27370	125	4	]	]	PUNCT
iiclr-27370	125	5	the	the	DET
iiclr-27370	125	6	wild	wild	ADJ
iiclr-27370	125	7	west	west	NOUN
iiclr-27370	125	8	,	,	PUNCT
iiclr-27370	125	9	cryptocurrency	cryptocurrency	NOUN
iiclr-27370	125	10	,	,	PUNCT
iiclr-27370	125	11	and	and	CCONJ
iiclr-27370	125	12	singapore	singapore	PROPN
iiclr-27370	125	13	197	197	NUM
iiclr-27370	125	14	working	work	VERB
iiclr-27370	125	15	definition	definition	NOUN
iiclr-27370	125	16	of	of	ADP
iiclr-27370	125	17	what	what	PRON
iiclr-27370	125	18	a	a	DET
iiclr-27370	125	19	cryptocurrency	cryptocurrency	NOUN
iiclr-27370	125	20	is	be	AUX
iiclr-27370	125	21	:	:	PUNCT
iiclr-27370	125	22	the	the	DET
iiclr-27370	125	23	sec	sec	PROPN
iiclr-27370	125	24	defines	define	VERB
iiclr-27370	125	25	cryptocurrencies	cryptocurrencie	NOUN
iiclr-27370	125	26	as	as	ADP
iiclr-27370	125	27	securities	security	NOUN
iiclr-27370	125	28	;	;	PUNCT
iiclr-27370	125	29	the	the	DET
iiclr-27370	125	30	cftc	cftc	PROPN
iiclr-27370	125	31	calls	call	VERB
iiclr-27370	125	32	them	they	PRON
iiclr-27370	125	33	commodities	commodity	NOUN
iiclr-27370	125	34	;	;	PUNCT
iiclr-27370	125	35	the	the	DET
iiclr-27370	125	36	fincen	fincen	NOUN
iiclr-27370	125	37	defines	define	VERB
iiclr-27370	125	38	crypto	crypto	NOUN
iiclr-27370	125	39	assets	asset	NOUN
iiclr-27370	125	40	as	as	ADP
iiclr-27370	125	41	payment	payment	NOUN
iiclr-27370	125	42	tokens	token	NOUN
iiclr-27370	125	43	;	;	PUNCT
iiclr-27370	125	44	and	and	CCONJ
iiclr-27370	125	45	the	the	DET
iiclr-27370	125	46	irs	irs	PROPN
iiclr-27370	125	47	views	view	VERB
iiclr-27370	125	48	cryptocurrencies	cryptocurrencie	NOUN
iiclr-27370	125	49	as	as	ADP
iiclr-27370	125	50	digital	digital	ADJ
iiclr-27370	125	51	representations	representation	NOUN
iiclr-27370	125	52	of	of	ADP
iiclr-27370	125	53	value.43	value.43	NOUN
iiclr-27370	125	54	to	to	PART
iiclr-27370	125	55	go	go	VERB
iiclr-27370	125	56	along	along	ADP
iiclr-27370	125	57	with	with	ADP
iiclr-27370	125	58	these	these	DET
iiclr-27370	125	59	separate	separate	ADJ
iiclr-27370	125	60	definitions	definition	NOUN
iiclr-27370	125	61	of	of	ADP
iiclr-27370	125	62	cryptocurrency	cryptocurrency	NOUN
iiclr-27370	125	63	,	,	PUNCT
iiclr-27370	125	64	each	each	DET
iiclr-27370	125	65	agency	agency	NOUN
iiclr-27370	125	66	has	have	AUX
iiclr-27370	125	67	developed	develop	VERB
iiclr-27370	125	68	its	its	PRON
iiclr-27370	125	69	own	own	ADJ
iiclr-27370	125	70	regulatory	regulatory	ADJ
iiclr-27370	125	71	position	position	NOUN
iiclr-27370	125	72	.	.	PUNCT
iiclr-27370	126	1	the	the	DET
iiclr-27370	126	2	sec	sec	PROPN
iiclr-27370	126	3	views	view	VERB
iiclr-27370	126	4	cryptos	crypto	NOUN
iiclr-27370	126	5	as	as	ADP
iiclr-27370	126	6	securities	security	NOUN
iiclr-27370	126	7	and	and	CCONJ
iiclr-27370	126	8	regulates	regulate	VERB
iiclr-27370	126	9	them	they	PRON
iiclr-27370	126	10	as	as	ADP
iiclr-27370	126	11	such	such	ADJ
iiclr-27370	126	12	using	use	VERB
iiclr-27370	126	13	the	the	DET
iiclr-27370	126	14	howey	howey	PROPN
iiclr-27370	126	15	test	test	NOUN
iiclr-27370	126	16	,	,	PUNCT
iiclr-27370	126	17	while	while	SCONJ
iiclr-27370	126	18	the	the	DET
iiclr-27370	126	19	cftc	cftc	PROPN
iiclr-27370	126	20	regulates	regulate	VERB
iiclr-27370	126	21	them	they	PRON
iiclr-27370	126	22	as	as	SCONJ
iiclr-27370	126	23	commodities.44	commodities.44	VERB
iiclr-27370	126	24	the	the	DET
iiclr-27370	126	25	internal	internal	ADJ
iiclr-27370	126	26	revenue	revenue	NOUN
iiclr-27370	126	27	service	service	NOUN
iiclr-27370	126	28	(	(	PUNCT
iiclr-27370	126	29	irs	irs	PROPN
iiclr-27370	126	30	)	)	PUNCT
iiclr-27370	126	31	has	have	AUX
iiclr-27370	126	32	defined	define	VERB
iiclr-27370	126	33	cryptocurrencies	cryptocurrencie	NOUN
iiclr-27370	126	34	as	as	ADP
iiclr-27370	126	35	“	"	PUNCT
iiclr-27370	126	36	digital	digital	ADJ
iiclr-27370	126	37	representation(s	representation(s	PROPN
iiclr-27370	126	38	)	)	PUNCT
iiclr-27370	126	39	of	of	ADP
iiclr-27370	126	40	value	value	NOUN
iiclr-27370	126	41	that	that	PRON
iiclr-27370	126	42	function	function	VERB
iiclr-27370	126	43	as	as	ADP
iiclr-27370	126	44	a	a	DET
iiclr-27370	126	45	medium	medium	NOUN
iiclr-27370	126	46	of	of	ADP
iiclr-27370	126	47	exchange	exchange	NOUN
iiclr-27370	126	48	,	,	PUNCT
iiclr-27370	126	49	a	a	DET
iiclr-27370	126	50	unit	unit	NOUN
iiclr-27370	126	51	of	of	ADP
iiclr-27370	126	52	account	account	NOUN
iiclr-27370	126	53	,	,	PUNCT
iiclr-27370	126	54	and/or	and/or	CCONJ
iiclr-27370	126	55	a	a	DET
iiclr-27370	126	56	store	store	NOUN
iiclr-27370	126	57	of	of	ADP
iiclr-27370	126	58	value	value	NOUN
iiclr-27370	126	59	”	"	PUNCT
iiclr-27370	126	60	and	and	CCONJ
iiclr-27370	126	61	views	view	VERB
iiclr-27370	126	62	them	they	PRON
iiclr-27370	126	63	as	as	ADP
iiclr-27370	126	64	a	a	DET
iiclr-27370	126	65	type	type	NOUN
iiclr-27370	126	66	of	of	ADP
iiclr-27370	126	67	property	property	NOUN
iiclr-27370	126	68	for	for	ADP
iiclr-27370	126	69	taxation	taxation	NOUN
iiclr-27370	126	70	purposes.45	purposes.45	NOUN
iiclr-27370	126	71	despite	despite	SCONJ
iiclr-27370	126	72	these	these	DET
iiclr-27370	126	73	other	other	ADJ
iiclr-27370	126	74	regulations	regulation	NOUN
iiclr-27370	126	75	,	,	PUNCT
iiclr-27370	126	76	the	the	DET
iiclr-27370	126	77	fincen	fincen	NOUN
iiclr-27370	126	78	has	have	AUX
iiclr-27370	126	79	stated	state	VERB
iiclr-27370	126	80	that	that	SCONJ
iiclr-27370	126	81	it	it	PRON
iiclr-27370	126	82	does	do	AUX
iiclr-27370	126	83	not	not	PART
iiclr-27370	126	84	consider	consider	VERB
iiclr-27370	126	85	cryptocurrency	cryptocurrency	NOUN
iiclr-27370	126	86	to	to	PART
iiclr-27370	126	87	be	be	AUX
iiclr-27370	126	88	legal	legal	ADJ
iiclr-27370	126	89	tender	tender	NOUN
iiclr-27370	126	90	,	,	PUNCT
iiclr-27370	126	91	but	but	CCONJ
iiclr-27370	126	92	a	a	DET
iiclr-27370	126	93	“	"	PUNCT
iiclr-27370	126	94	money	money	NOUN
iiclr-27370	126	95	transmitter	transmitter	NOUN
iiclr-27370	126	96	”	"	PUNCT
iiclr-27370	126	97	subject	subject	NOUN
iiclr-27370	126	98	to	to	ADP
iiclr-27370	126	99	its	its	PRON
iiclr-27370	126	100	jurisdiction.46	jurisdiction.46	NOUN
iiclr-27370	126	101	further	far	ADV
iiclr-27370	126	102	complicating	complicate	VERB
iiclr-27370	126	103	the	the	DET
iiclr-27370	126	104	system	system	NOUN
iiclr-27370	126	105	for	for	ADP
iiclr-27370	126	106	crypto	crypto	NOUN
iiclr-27370	126	107	holders	holder	NOUN
iiclr-27370	126	108	,	,	PUNCT
iiclr-27370	126	109	the	the	DET
iiclr-27370	126	110	united	united	PROPN
iiclr-27370	126	111	states	states	PROPN
iiclr-27370	126	112	treasury	treasury	PROPN
iiclr-27370	126	113	has	have	AUX
iiclr-27370	126	114	classified	classify	VERB
iiclr-27370	126	115	cryptocurrency	cryptocurrency	NOUN
iiclr-27370	126	116	as	as	ADP
iiclr-27370	126	117	a	a	DET
iiclr-27370	126	118	currency	currency	NOUN
iiclr-27370	126	119	and	and	CCONJ
iiclr-27370	126	120	regulates	regulate	VERB
iiclr-27370	126	121	it	it	PRON
iiclr-27370	126	122	as	as	SCONJ
iiclr-27370	126	123	such.47	such.47	PROPN
iiclr-27370	126	124	the	the	DET
iiclr-27370	126	125	current	current	ADJ
iiclr-27370	126	126	regulatory	regulatory	ADJ
iiclr-27370	126	127	landscape	landscape	NOUN
iiclr-27370	126	128	in	in	ADP
iiclr-27370	126	129	the	the	DET
iiclr-27370	126	130	united	united	PROPN
iiclr-27370	126	131	states	states	PROPN
iiclr-27370	126	132	can	can	AUX
iiclr-27370	126	133	be	be	AUX
iiclr-27370	126	134	very	very	ADV
iiclr-27370	126	135	confusing	confusing	ADJ
iiclr-27370	126	136	to	to	ADP
iiclr-27370	126	137	a	a	DET
iiclr-27370	126	138	retail	retail	ADJ
iiclr-27370	126	139	investor	investor	NOUN
iiclr-27370	126	140	.	.	PUNCT
iiclr-27370	127	1	this	this	DET
iiclr-27370	127	2	unclear	unclear	ADJ
iiclr-27370	127	3	and	and	CCONJ
iiclr-27370	127	4	contradictory	contradictory	ADJ
iiclr-27370	127	5	regulatory	regulatory	ADJ
iiclr-27370	127	6	framework	framework	NOUN
iiclr-27370	127	7	creates	create	VERB
iiclr-27370	127	8	a	a	DET
iiclr-27370	127	9	problem	problem	NOUN
iiclr-27370	127	10	,	,	PUNCT
iiclr-27370	127	11	as	as	SCONJ
iiclr-27370	127	12	a	a	DET
iiclr-27370	127	13	substantial	substantial	ADJ
iiclr-27370	127	14	portion	portion	NOUN
iiclr-27370	127	15	of	of	ADP
iiclr-27370	127	16	crypto	crypto	NOUN
iiclr-27370	127	17	holders	holder	NOUN
iiclr-27370	127	18	are	be	AUX
iiclr-27370	127	19	retail	retail	ADJ
iiclr-27370	127	20	investors	investor	NOUN
iiclr-27370	127	21	who	who	PRON
iiclr-27370	127	22	lack	lack	VERB
iiclr-27370	127	23	the	the	DET
iiclr-27370	127	24	complex	complex	ADJ
iiclr-27370	127	25	knowledge	knowledge	NOUN
iiclr-27370	127	26	and	and	CCONJ
iiclr-27370	127	27	experience	experience	NOUN
iiclr-27370	127	28	typically	typically	ADV
iiclr-27370	127	29	possessed	possess	VERB
iiclr-27370	127	30	by	by	ADP
iiclr-27370	127	31	institutional	institutional	ADJ
iiclr-27370	127	32	investors.48	investors.48	NOUN
iiclr-27370	127	33	unfortunately	unfortunately	ADV
iiclr-27370	127	34	,	,	PUNCT
iiclr-27370	127	35	the	the	DET
iiclr-27370	127	36	united	united	PROPN
iiclr-27370	127	37	states	states	PROPN
iiclr-27370	127	38	has	have	VERB
iiclr-27370	127	39	yet	yet	ADV
iiclr-27370	127	40	to	to	PART
iiclr-27370	127	41	offer	offer	VERB
iiclr-27370	127	42	any	any	DET
iiclr-27370	127	43	substantial	substantial	ADJ
iiclr-27370	127	44	clarification	clarification	NOUN
iiclr-27370	127	45	on	on	ADP
iiclr-27370	127	46	cryptocurrency	cryptocurrency	NOUN
iiclr-27370	127	47	regulation	regulation	NOUN
iiclr-27370	127	48	.	.	PUNCT
iiclr-27370	128	1	a.	a.	PROPN
iiclr-27370	128	2	the	the	DET
iiclr-27370	128	3	sec	sec	PROPN
iiclr-27370	128	4	in	in	ADP
iiclr-27370	128	5	2017	2017	NUM
iiclr-27370	128	6	,	,	PUNCT
iiclr-27370	128	7	the	the	DET
iiclr-27370	128	8	sec	sec	PROPN
iiclr-27370	128	9	investigated	investigate	VERB
iiclr-27370	128	10	the	the	DET
iiclr-27370	128	11	decentralized	decentralize	VERB
iiclr-27370	128	12	autonomous	autonomous	ADJ
iiclr-27370	128	13	organization	organization	NOUN
iiclr-27370	128	14	43	43	NUM
iiclr-27370	128	15	.	.	PUNCT
iiclr-27370	129	1	i	i	PRON
iiclr-27370	129	2	d.	d.	PROPN
iiclr-27370	129	3	44	44	NUM
iiclr-27370	129	4	.	.	PUNCT
iiclr-27370	130	1	i	i	PRON
iiclr-27370	130	2	d.	d.	PROPN
iiclr-27370	130	3	45	45	NUM
iiclr-27370	130	4	.	.	PUNCT
iiclr-27370	131	1	i	i	PRON
iiclr-27370	131	2	d.	d.	PROPN
iiclr-27370	131	3	46	46	NUM
iiclr-27370	131	4	.	.	PUNCT
iiclr-27370	132	1	fin	fin	NOUN
iiclr-27370	132	2	.	.	PUNCT
iiclr-27370	133	1	crimes	crime	NOUN
iiclr-27370	133	2	enf’t	enf’t	PROPN
iiclr-27370	133	3	.	.	PUNCT
iiclr-27370	133	4	network	network	NOUN
iiclr-27370	133	5	,	,	PUNCT
iiclr-27370	133	6	application	application	NOUN
iiclr-27370	133	7	of	of	ADP
iiclr-27370	133	8	fincen	fincen	PROPN
iiclr-27370	133	9	’s	’s	PART
iiclr-27370	133	10	regulations	regulation	NOUN
iiclr-27370	133	11	to	to	ADP
iiclr-27370	133	12	persons	person	NOUN
iiclr-27370	133	13	administering	administer	VERB
iiclr-27370	133	14	,	,	PUNCT
iiclr-27370	133	15	exchanging	exchange	VERB
iiclr-27370	133	16	,	,	PUNCT
iiclr-27370	133	17	or	or	CCONJ
iiclr-27370	133	18	using	use	VERB
iiclr-27370	133	19	virtual	virtual	ADJ
iiclr-27370	133	20	currencies	currency	NOUN
iiclr-27370	133	21	(	(	PUNCT
iiclr-27370	133	22	2013	2013	NUM
iiclr-27370	133	23	)	)	PUNCT
iiclr-27370	133	24	;	;	PUNCT
iiclr-27370	133	25	press	press	NOUN
iiclr-27370	133	26	release	release	NOUN
iiclr-27370	133	27	,	,	PUNCT
iiclr-27370	133	28	fin	fin	NOUN
iiclr-27370	133	29	.	.	PUNCT
iiclr-27370	134	1	crimes	crime	NOUN
iiclr-27370	134	2	enf’t	enf’t	NOUN
iiclr-27370	134	3	network	network	NOUN
iiclr-27370	134	4	,	,	PUNCT
iiclr-27370	134	5	first	first	ADJ
iiclr-27370	134	6	bitcoin	bitcoin	ADJ
iiclr-27370	134	7	“	"	PUNCT
iiclr-27370	134	8	mixer	mixer	NOUN
iiclr-27370	134	9	”	"	PUNCT
iiclr-27370	134	10	penalized	penalize	VERB
iiclr-27370	134	11	by	by	ADP
iiclr-27370	134	12	fincen	fincen	NOUN
iiclr-27370	134	13	for	for	ADP
iiclr-27370	134	14	violating	violate	VERB
iiclr-27370	134	15	anti	anti	ADJ
iiclr-27370	134	16	-	-	ADJ
iiclr-27370	134	17	money	money	ADJ
iiclr-27370	134	18	laundering	laundering	NOUN
iiclr-27370	134	19	laws	law	NOUN
iiclr-27370	134	20	.	.	PUNCT
iiclr-27370	135	1	(	(	PUNCT
iiclr-27370	135	2	oct	oct	PROPN
iiclr-27370	135	3	.	.	PROPN
iiclr-27370	135	4	19	19	NUM
iiclr-27370	135	5	,	,	PUNCT
iiclr-27370	135	6	2020	2020	NUM
iiclr-27370	135	7	)	)	PUNCT
iiclr-27370	135	8	,	,	PUNCT
iiclr-27370	135	9	https://www.fincen.gov/news/news-releases/first-bitcoin-mixer-penalizedfincen-violating-anti-money-laundering-laws#:~:text=washington%e2%80%94the%	https://www.fincen.gov/news/news-releases/first-bitcoin-mixer-penalizedfincen-violating-anti-money-laundering-laws#:~:text=washington%e2%80%94the%	X
iiclr-27370	136	1	20financial%20crimes%20enforcement	20financial%20crimes%20enforcement	NUM
iiclr-27370	136	2	,	,	PUNCT
iiclr-27370	136	3	secrecy%20act%20(bsa)%20and%20its	secrecy%20act%20(bsa)%20and%20it	NOUN
iiclr-27370	136	4	[	[	X
iiclr-27370	136	5	https://perma.cc/pmz5-9n6x	https://perma.cc/pmz5-9n6x	NUM
iiclr-27370	136	6	]	]	PUNCT
iiclr-27370	136	7	.	.	PUNCT
iiclr-27370	137	1	47	47	NUM
iiclr-27370	137	2	.	.	PUNCT
iiclr-27370	138	1	fin	fin	NOUN
iiclr-27370	138	2	.	.	PUNCT
iiclr-27370	139	1	crimes	crime	NOUN
iiclr-27370	139	2	enf’t	enf’t	PROPN
iiclr-27370	139	3	.	.	PUNCT
iiclr-27370	139	4	network	network	NOUN
iiclr-27370	139	5	,	,	PUNCT
iiclr-27370	139	6	application	application	NOUN
iiclr-27370	139	7	of	of	ADP
iiclr-27370	139	8	fincen	fincen	PROPN
iiclr-27370	139	9	’s	’s	PART
iiclr-27370	139	10	regulations	regulation	NOUN
iiclr-27370	139	11	to	to	ADP
iiclr-27370	139	12	persons	person	NOUN
iiclr-27370	139	13	administering	administer	VERB
iiclr-27370	139	14	,	,	PUNCT
iiclr-27370	139	15	exchanging	exchange	VERB
iiclr-27370	139	16	,	,	PUNCT
iiclr-27370	139	17	or	or	CCONJ
iiclr-27370	139	18	using	use	VERB
iiclr-27370	139	19	virtual	virtual	ADJ
iiclr-27370	139	20	currencies	currency	NOUN
iiclr-27370	139	21	(	(	PUNCT
iiclr-27370	139	22	2013	2013	NUM
iiclr-27370	139	23	)	)	PUNCT
iiclr-27370	139	24	;	;	PUNCT
iiclr-27370	139	25	press	press	NOUN
iiclr-27370	139	26	release	release	NOUN
iiclr-27370	139	27	,	,	PUNCT
iiclr-27370	139	28	fin	fin	NOUN
iiclr-27370	139	29	.	.	PUNCT
iiclr-27370	140	1	crimes	crime	NOUN
iiclr-27370	140	2	enf’t	enf’t	NOUN
iiclr-27370	140	3	network	network	NOUN
iiclr-27370	140	4	,	,	PUNCT
iiclr-27370	140	5	first	first	ADJ
iiclr-27370	140	6	bitcoin	bitcoin	ADJ
iiclr-27370	140	7	“	"	PUNCT
iiclr-27370	140	8	mixer	mixer	NOUN
iiclr-27370	140	9	”	"	PUNCT
iiclr-27370	140	10	penalized	penalize	VERB
iiclr-27370	140	11	by	by	ADP
iiclr-27370	140	12	fincen	fincen	NOUN
iiclr-27370	140	13	for	for	ADP
iiclr-27370	140	14	violating	violate	VERB
iiclr-27370	140	15	anti	anti	ADJ
iiclr-27370	140	16	-	-	ADJ
iiclr-27370	140	17	money	money	ADJ
iiclr-27370	140	18	laundering	laundering	NOUN
iiclr-27370	140	19	laws	law	NOUN
iiclr-27370	140	20	.	.	PUNCT
iiclr-27370	141	1	(	(	PUNCT
iiclr-27370	141	2	oct	oct	PROPN
iiclr-27370	141	3	.	.	PROPN
iiclr-27370	141	4	19	19	NUM
iiclr-27370	141	5	,	,	PUNCT
iiclr-27370	141	6	2020	2020	NUM
iiclr-27370	141	7	)	)	PUNCT
iiclr-27370	141	8	,	,	PUNCT
iiclr-27370	141	9	https://www.fincen.gov/news/news-releases/first-bitcoin-mixer-penalizedfincen-violating-anti-money-laundering-laws#:~:text=washington%e2%80%94the%	https://www.fincen.gov/news/news-releases/first-bitcoin-mixer-penalizedfincen-violating-anti-money-laundering-laws#:~:text=washington%e2%80%94the%	X
iiclr-27370	142	1	20financial%20crimes%20enforcement	20financial%20crimes%20enforcement	NUM
iiclr-27370	142	2	,	,	PUNCT
iiclr-27370	142	3	secrecy%20act%20(bsa)%20and%20its	secrecy%20act%20(bsa)%20and%20it	NOUN
iiclr-27370	142	4	[	[	X
iiclr-27370	142	5	https://perma.cc/pmz5-9n6x	https://perma.cc/pmz5-9n6x	NUM
iiclr-27370	142	6	]	]	PUNCT
iiclr-27370	142	7	.	.	PUNCT
iiclr-27370	143	1	48	48	NUM
iiclr-27370	143	2	.	.	PUNCT
iiclr-27370	144	1	see	see	VERB
iiclr-27370	144	2	reed	reed	PROPN
iiclr-27370	144	3	landberg	landberg	PROPN
iiclr-27370	144	4	,	,	PUNCT
iiclr-27370	144	5	crypto	crypto	ADJ
iiclr-27370	144	6	assets	asset	NOUN
iiclr-27370	144	7	poorly	poorly	ADV
iiclr-27370	144	8	understood	understand	VERB
iiclr-27370	144	9	by	by	ADP
iiclr-27370	144	10	retail	retail	ADJ
iiclr-27370	144	11	investors	investor	NOUN
iiclr-27370	144	12	,	,	PUNCT
iiclr-27370	144	13	boe	boe	PROPN
iiclr-27370	144	14	says	say	VERB
iiclr-27370	144	15	,	,	PUNCT
iiclr-27370	144	16	bloomberg	bloomberg	PROPN
iiclr-27370	144	17	(	(	PUNCT
iiclr-27370	144	18	may	may	PROPN
iiclr-27370	144	19	17	17	NUM
iiclr-27370	144	20	,	,	PUNCT
iiclr-27370	144	21	2022	2022	NUM
iiclr-27370	144	22	,	,	PUNCT
iiclr-27370	144	23	11:55	11:55	NUM
iiclr-27370	144	24	am	am	NOUN
iiclr-27370	144	25	)	)	PUNCT
iiclr-27370	144	26	,	,	PUNCT
iiclr-27370	144	27	https://www.bloomberg.com/news/articles/2022-05-17/	https://www.bloomberg.com/news/articles/2022-05-17/	PROPN
iiclr-27370	144	28	crypto	crypto	NOUN
iiclr-27370	144	29	-	-	PUNCT
iiclr-27370	144	30	assets	asset	NOUN
iiclr-27370	144	31	-	-	PUNCT
iiclr-27370	144	32	poorly	poorly	ADV
iiclr-27370	144	33	-	-	PUNCT
iiclr-27370	144	34	understood	understand	VERB
iiclr-27370	144	35	-	-	PUNCT
iiclr-27370	144	36	by	by	ADP
iiclr-27370	144	37	-	-	PUNCT
iiclr-27370	144	38	retail	retail	ADJ
iiclr-27370	144	39	-	-	PUNCT
iiclr-27370	144	40	investors	investor	NOUN
iiclr-27370	144	41	-	-	PUNCT
iiclr-27370	144	42	boe	boe	PROPN
iiclr-27370	144	43	-	-	PUNCT
iiclr-27370	144	44	says?leadsource	says?leadsource	NOUN
iiclr-27370	144	45	=	=	NOUN
iiclr-27370	144	46	uverify%20wall	uverify%20wall	NOUN
iiclr-27370	145	1	[	[	X
iiclr-27370	145	2	https://perma.cc/fu2g-zaf4	https://perma.cc/fu2g-zaf4	NOUN
iiclr-27370	145	3	]	]	X
iiclr-27370	145	4	.	.	PUNCT
iiclr-27370	146	1	198	198	NUM
iiclr-27370	146	2	indiana	indiana	PROPN
iiclr-27370	146	3	int’l	int’l	NOUN
iiclr-27370	146	4	&	&	CCONJ
iiclr-27370	146	5	comp	comp	PROPN
iiclr-27370	146	6	.	.	PUNCT
iiclr-27370	147	1	law	law	NOUN
iiclr-27370	147	2	review	review	NOUN
iiclr-27370	148	1	[	[	X
iiclr-27370	148	2	vol	vol	NOUN
iiclr-27370	148	3	.	.	PUNCT
iiclr-27370	148	4	33:191	33:191	NUM
iiclr-27370	148	5	(	(	PUNCT
iiclr-27370	148	6	dao	dao	NOUN
iiclr-27370	148	7	)	)	PUNCT
iiclr-27370	148	8	,	,	PUNCT
iiclr-27370	148	9	a	a	DET
iiclr-27370	148	10	virtual	virtual	ADJ
iiclr-27370	148	11	organization	organization	NOUN
iiclr-27370	148	12	that	that	PRON
iiclr-27370	148	13	had	have	AUX
iiclr-27370	148	14	been	be	AUX
iiclr-27370	148	15	raising	raise	VERB
iiclr-27370	148	16	capital	capital	NOUN
iiclr-27370	148	17	by	by	ADP
iiclr-27370	148	18	allowing	allow	VERB
iiclr-27370	148	19	its	its	PRON
iiclr-27370	148	20	investors	investor	NOUN
iiclr-27370	148	21	to	to	PART
iiclr-27370	148	22	exchange	exchange	VERB
iiclr-27370	148	23	ethereum	ethereum	NOUN
iiclr-27370	148	24	tokens	token	NOUN
iiclr-27370	148	25	for	for	ADP
iiclr-27370	148	26	dao	dao	PROPN
iiclr-27370	148	27	tokens	token	NOUN
iiclr-27370	148	28	,	,	PUNCT
iiclr-27370	148	29	which	which	PRON
iiclr-27370	148	30	ran	run	VERB
iiclr-27370	148	31	on	on	ADP
iiclr-27370	148	32	the	the	DET
iiclr-27370	148	33	ethereum	ethereum	NOUN
iiclr-27370	148	34	blockchain	blockchain	NOUN
iiclr-27370	148	35	and	and	CCONJ
iiclr-27370	148	36	could	could	AUX
iiclr-27370	148	37	be	be	AUX
iiclr-27370	148	38	sold	sell	VERB
iiclr-27370	148	39	on	on	ADP
iiclr-27370	148	40	the	the	DET
iiclr-27370	148	41	secondary	secondary	ADJ
iiclr-27370	148	42	cryptocurrency	cryptocurrency	NOUN
iiclr-27370	148	43	market.49	market.49	PROPN
iiclr-27370	148	44	the	the	DET
iiclr-27370	148	45	dao	dao	NOUN
iiclr-27370	148	46	operated	operate	VERB
iiclr-27370	148	47	as	as	ADP
iiclr-27370	148	48	an	an	DET
iiclr-27370	148	49	investment	investment	NOUN
iiclr-27370	148	50	fund	fund	NOUN
iiclr-27370	148	51	,	,	PUNCT
iiclr-27370	148	52	allowing	allow	VERB
iiclr-27370	148	53	investors	investor	NOUN
iiclr-27370	148	54	to	to	PART
iiclr-27370	148	55	vote	vote	VERB
iiclr-27370	148	56	on	on	ADP
iiclr-27370	148	57	investment	investment	NOUN
iiclr-27370	148	58	contracts	contract	NOUN
iiclr-27370	148	59	to	to	PART
iiclr-27370	148	60	decide	decide	VERB
iiclr-27370	148	61	how	how	SCONJ
iiclr-27370	148	62	their	their	PRON
iiclr-27370	148	63	pooled	pool	VERB
iiclr-27370	148	64	funds	fund	NOUN
iiclr-27370	148	65	were	be	AUX
iiclr-27370	148	66	to	to	PART
iiclr-27370	148	67	be	be	AUX
iiclr-27370	148	68	spent	spend	VERB
iiclr-27370	148	69	,	,	PUNCT
iiclr-27370	148	70	with	with	ADP
iiclr-27370	148	71	profits	profit	NOUN
iiclr-27370	148	72	apportioned	apportion	VERB
iiclr-27370	148	73	among	among	ADP
iiclr-27370	148	74	them	they	PRON
iiclr-27370	148	75	depending	depend	VERB
iiclr-27370	148	76	on	on	ADP
iiclr-27370	148	77	the	the	DET
iiclr-27370	148	78	amounts	amount	NOUN
iiclr-27370	148	79	of	of	ADP
iiclr-27370	148	80	their	their	PRON
iiclr-27370	148	81	investments.50	investments.50	PROPN
iiclr-27370	148	82	in	in	ADP
iiclr-27370	148	83	2016	2016	NUM
iiclr-27370	148	84	,	,	PUNCT
iiclr-27370	148	85	however	however	ADV
iiclr-27370	148	86	,	,	PUNCT
iiclr-27370	148	87	the	the	DET
iiclr-27370	148	88	dao	dao	NOUN
iiclr-27370	148	89	was	be	AUX
iiclr-27370	148	90	hacked	hack	VERB
iiclr-27370	148	91	,	,	PUNCT
iiclr-27370	148	92	resulting	result	VERB
iiclr-27370	148	93	in	in	ADP
iiclr-27370	148	94	approximately	approximately	ADV
iiclr-27370	148	95	one	one	NUM
iiclr-27370	148	96	-	-	PUNCT
iiclr-27370	148	97	third	third	NOUN
iiclr-27370	148	98	of	of	ADP
iiclr-27370	148	99	investor	investor	NOUN
iiclr-27370	148	100	funds	fund	NOUN
iiclr-27370	148	101	being	be	AUX
iiclr-27370	148	102	stolen	steal	VERB
iiclr-27370	148	103	—	—	PUNCT
iiclr-27370	148	104	effectively	effectively	ADV
iiclr-27370	148	105	bankrupting	bankrupt	VERB
iiclr-27370	148	106	the	the	DET
iiclr-27370	148	107	dao	dao	NOUN
iiclr-27370	148	108	and	and	CCONJ
iiclr-27370	148	109	leaving	leave	VERB
iiclr-27370	148	110	its	its	PRON
iiclr-27370	148	111	members	member	NOUN
iiclr-27370	148	112	at	at	ADP
iiclr-27370	148	113	a	a	DET
iiclr-27370	148	114	loss.51	loss.51	NOUN
iiclr-27370	148	115	in	in	ADP
iiclr-27370	148	116	response	response	NOUN
iiclr-27370	148	117	,	,	PUNCT
iiclr-27370	148	118	the	the	DET
iiclr-27370	148	119	sec	sec	PROPN
iiclr-27370	148	120	released	release	VERB
iiclr-27370	148	121	a	a	DET
iiclr-27370	148	122	dao	dao	NOUN
iiclr-27370	148	123	no	no	DET
iiclr-27370	148	124	action	action	NOUN
iiclr-27370	148	125	letter	letter	NOUN
iiclr-27370	148	126	,	,	PUNCT
iiclr-27370	148	127	declaring	declare	VERB
iiclr-27370	148	128	that	that	SCONJ
iiclr-27370	148	129	digital	digital	ADJ
iiclr-27370	148	130	tokens	token	NOUN
iiclr-27370	148	131	are	be	AUX
iiclr-27370	148	132	“	"	PUNCT
iiclr-27370	148	133	investment	investment	NOUN
iiclr-27370	148	134	contracts	contract	NOUN
iiclr-27370	148	135	”	"	PUNCT
iiclr-27370	148	136	under	under	ADP
iiclr-27370	148	137	section	section	NOUN
iiclr-27370	148	138	2	2	NUM
iiclr-27370	148	139	of	of	ADP
iiclr-27370	148	140	the	the	DET
iiclr-27370	148	141	securities	security	NOUN
iiclr-27370	148	142	act	act	PROPN
iiclr-27370	148	143	,	,	PUNCT
iiclr-27370	148	144	thus	thus	ADV
iiclr-27370	148	145	requiring	require	VERB
iiclr-27370	148	146	issuers	issuer	NOUN
iiclr-27370	148	147	of	of	ADP
iiclr-27370	148	148	tokens	token	NOUN
iiclr-27370	148	149	within	within	ADP
iiclr-27370	148	150	the	the	DET
iiclr-27370	148	151	united	united	PROPN
iiclr-27370	148	152	states	states	PROPN
iiclr-27370	148	153	to	to	PART
iiclr-27370	148	154	comply	comply	VERB
iiclr-27370	148	155	with	with	ADP
iiclr-27370	148	156	securities	security	NOUN
iiclr-27370	148	157	regulations	regulation	NOUN
iiclr-27370	148	158	,	,	PUNCT
iiclr-27370	148	159	including	include	VERB
iiclr-27370	148	160	registration	registration	NOUN
iiclr-27370	148	161	requirements.52	requirements.52	NOUN
iiclr-27370	148	162	in	in	ADP
iiclr-27370	148	163	arriving	arrive	VERB
iiclr-27370	148	164	at	at	ADP
iiclr-27370	148	165	this	this	DET
iiclr-27370	148	166	conclusion	conclusion	NOUN
iiclr-27370	148	167	,	,	PUNCT
iiclr-27370	148	168	the	the	DET
iiclr-27370	148	169	sec	sec	PROPN
iiclr-27370	148	170	applied	apply	VERB
iiclr-27370	148	171	the	the	DET
iiclr-27370	148	172	howey	howey	PROPN
iiclr-27370	148	173	test	test	NOUN
iiclr-27370	148	174	,	,	PUNCT
iiclr-27370	148	175	which	which	PRON
iiclr-27370	148	176	was	be	AUX
iiclr-27370	148	177	developed	develop	VERB
iiclr-27370	148	178	in	in	ADP
iiclr-27370	148	179	sec	sec	PROPN
iiclr-27370	148	180	v.	v.	PROPN
iiclr-27370	148	181	w.j	w.j	PROPN
iiclr-27370	148	182	.	.	PROPN
iiclr-27370	149	1	howey	howey	PROPN
iiclr-27370	149	2	co.53	co.53	PROPN
iiclr-27370	149	3	the	the	DET
iiclr-27370	149	4	howey	howey	PROPN
iiclr-27370	149	5	test	test	NOUN
iiclr-27370	149	6	defines	define	VERB
iiclr-27370	149	7	investment	investment	NOUN
iiclr-27370	149	8	contracts	contract	NOUN
iiclr-27370	149	9	by	by	ADP
iiclr-27370	149	10	posing	pose	VERB
iiclr-27370	149	11	four	four	NUM
iiclr-27370	149	12	questions—(1	questions—(1	NOUN
iiclr-27370	149	13	)	)	PUNCT
iiclr-27370	149	14	whether	whether	SCONJ
iiclr-27370	149	15	there	there	PRON
iiclr-27370	149	16	is	be	VERB
iiclr-27370	149	17	an	an	DET
iiclr-27370	149	18	investment	investment	NOUN
iiclr-27370	149	19	of	of	ADP
iiclr-27370	149	20	money	money	NOUN
iiclr-27370	149	21	;	;	PUNCT
iiclr-27370	149	22	(	(	PUNCT
iiclr-27370	149	23	2	2	X
iiclr-27370	149	24	)	)	PUNCT
iiclr-27370	149	25	whether	whether	SCONJ
iiclr-27370	149	26	there	there	PRON
iiclr-27370	149	27	is	be	VERB
iiclr-27370	149	28	a	a	DET
iiclr-27370	149	29	common	common	ADJ
iiclr-27370	149	30	enterprise	enterprise	NOUN
iiclr-27370	149	31	;	;	PUNCT
iiclr-27370	149	32	(	(	PUNCT
iiclr-27370	149	33	3	3	X
iiclr-27370	149	34	)	)	PUNCT
iiclr-27370	149	35	whether	whether	SCONJ
iiclr-27370	149	36	there	there	PRON
iiclr-27370	149	37	is	be	VERB
iiclr-27370	149	38	a	a	DET
iiclr-27370	149	39	reasonable	reasonable	ADJ
iiclr-27370	149	40	expectation	expectation	NOUN
iiclr-27370	149	41	of	of	ADP
iiclr-27370	149	42	profits	profit	NOUN
iiclr-27370	149	43	from	from	ADP
iiclr-27370	149	44	an	an	DET
iiclr-27370	149	45	investment	investment	NOUN
iiclr-27370	149	46	;	;	PUNCT
iiclr-27370	149	47	and	and	CCONJ
iiclr-27370	149	48	(	(	PUNCT
iiclr-27370	149	49	4	4	X
iiclr-27370	149	50	)	)	PUNCT
iiclr-27370	149	51	whether	whether	SCONJ
iiclr-27370	149	52	the	the	DET
iiclr-27370	149	53	investment	investment	NOUN
iiclr-27370	149	54	incomes	income	NOUN
iiclr-27370	149	55	result	result	VERB
iiclr-27370	149	56	mostly	mostly	ADV
iiclr-27370	149	57	from	from	ADP
iiclr-27370	149	58	the	the	DET
iiclr-27370	149	59	efforts	effort	NOUN
iiclr-27370	149	60	of	of	ADP
iiclr-27370	149	61	others.54	others.54	PROPN
iiclr-27370	149	62	if	if	SCONJ
iiclr-27370	149	63	these	these	DET
iiclr-27370	149	64	questions	question	NOUN
iiclr-27370	149	65	can	can	AUX
iiclr-27370	149	66	all	all	PRON
iiclr-27370	149	67	be	be	AUX
iiclr-27370	149	68	answered	answer	VERB
iiclr-27370	149	69	in	in	ADP
iiclr-27370	149	70	the	the	DET
iiclr-27370	149	71	affirmative	affirmative	NOUN
iiclr-27370	149	72	,	,	PUNCT
iiclr-27370	149	73	according	accord	VERB
iiclr-27370	149	74	to	to	ADP
iiclr-27370	149	75	the	the	DET
iiclr-27370	149	76	sec	sec	PROPN
iiclr-27370	149	77	,	,	PUNCT
iiclr-27370	149	78	a	a	DET
iiclr-27370	149	79	cryptocurrency	cryptocurrency	NOUN
iiclr-27370	149	80	is	be	AUX
iiclr-27370	149	81	a	a	DET
iiclr-27370	149	82	security	security	NOUN
iiclr-27370	149	83	or	or	CCONJ
iiclr-27370	149	84	an	an	DET
iiclr-27370	149	85	investment	investment	NOUN
iiclr-27370	149	86	contract.55	contract.55	NOUN
iiclr-27370	149	87	the	the	DET
iiclr-27370	149	88	sec	sec	PROPN
iiclr-27370	149	89	found	find	VERB
iiclr-27370	149	90	that	that	SCONJ
iiclr-27370	149	91	the	the	DET
iiclr-27370	149	92	dao	dao	NOUN
iiclr-27370	149	93	tokens	token	NOUN
iiclr-27370	149	94	were	be	AUX
iiclr-27370	149	95	securities	security	NOUN
iiclr-27370	149	96	because	because	SCONJ
iiclr-27370	149	97	investors	investor	NOUN
iiclr-27370	149	98	in	in	ADP
iiclr-27370	149	99	the	the	DET
iiclr-27370	149	100	dao	dao	NOUN
iiclr-27370	149	101	invested	invest	VERB
iiclr-27370	149	102	money	money	NOUN
iiclr-27370	149	103	into	into	ADP
iiclr-27370	149	104	a	a	DET
iiclr-27370	149	105	common	common	ADJ
iiclr-27370	149	106	enterprise	enterprise	NOUN
iiclr-27370	149	107	,	,	PUNCT
iiclr-27370	149	108	holders	holder	NOUN
iiclr-27370	149	109	reasonably	reasonably	ADV
iiclr-27370	149	110	expected	expect	VERB
iiclr-27370	149	111	profits	profit	NOUN
iiclr-27370	149	112	from	from	ADP
iiclr-27370	149	113	their	their	PRON
iiclr-27370	149	114	investments	investment	NOUN
iiclr-27370	149	115	,	,	PUNCT
iiclr-27370	149	116	and	and	CCONJ
iiclr-27370	149	117	said	say	VERB
iiclr-27370	149	118	expectations	expectation	NOUN
iiclr-27370	149	119	were	be	AUX
iiclr-27370	149	120	derived	derive	VERB
iiclr-27370	149	121	solely	solely	ADV
iiclr-27370	149	122	from	from	ADP
iiclr-27370	149	123	the	the	DET
iiclr-27370	149	124	efforts	effort	NOUN
iiclr-27370	149	125	of	of	ADP
iiclr-27370	149	126	others	other	NOUN
iiclr-27370	149	127	because	because	SCONJ
iiclr-27370	149	128	the	the	DET
iiclr-27370	149	129	holders	holder	NOUN
iiclr-27370	149	130	of	of	ADP
iiclr-27370	149	131	the	the	DET
iiclr-27370	149	132	coins	coin	NOUN
iiclr-27370	149	133	did	do	AUX
iiclr-27370	149	134	not	not	PART
iiclr-27370	149	135	manage	manage	VERB
iiclr-27370	149	136	the	the	DET
iiclr-27370	149	137	projects.56	projects.56	NOUN
iiclr-27370	149	138	if	if	SCONJ
iiclr-27370	149	139	a	a	DET
iiclr-27370	149	140	cryptocurrency	cryptocurrency	NOUN
iiclr-27370	149	141	asset	asset	NOUN
iiclr-27370	149	142	is	be	AUX
iiclr-27370	149	143	considered	consider	VERB
iiclr-27370	149	144	a	a	DET
iiclr-27370	149	145	security	security	NOUN
iiclr-27370	149	146	under	under	ADP
iiclr-27370	149	147	howey	howey	PROPN
iiclr-27370	149	148	scrutiny	scrutiny	NOUN
iiclr-27370	149	149	it	it	PRON
iiclr-27370	149	150	is	be	AUX
iiclr-27370	149	151	subject	subject	ADJ
iiclr-27370	149	152	to	to	ADP
iiclr-27370	149	153	regulation	regulation	NOUN
iiclr-27370	149	154	under	under	ADP
iiclr-27370	149	155	section	section	NOUN
iiclr-27370	149	156	5	5	NUM
iiclr-27370	149	157	of	of	ADP
iiclr-27370	149	158	the	the	DET
iiclr-27370	149	159	securities	security	NOUN
iiclr-27370	149	160	act	act	NOUN
iiclr-27370	149	161	of	of	ADP
iiclr-27370	149	162	1933	1933	NUM
iiclr-27370	149	163	,	,	PUNCT
iiclr-27370	149	164	thus	thus	ADV
iiclr-27370	149	165	making	make	VERB
iiclr-27370	149	166	it	it	PRON
iiclr-27370	149	167	illegal	illegal	ADJ
iiclr-27370	149	168	for	for	SCONJ
iiclr-27370	149	169	said	say	VERB
iiclr-27370	149	170	cryptocurrency	cryptocurrency	NOUN
iiclr-27370	149	171	to	to	PART
iiclr-27370	149	172	enter	enter	VERB
iiclr-27370	149	173	the	the	DET
iiclr-27370	149	174	stream	stream	NOUN
iiclr-27370	149	175	of	of	ADP
iiclr-27370	149	176	interstate	interstate	ADJ
iiclr-27370	149	177	commerce	commerce	NOUN
iiclr-27370	149	178	without	without	ADP
iiclr-27370	149	179	being	be	AUX
iiclr-27370	149	180	registered	register	VERB
iiclr-27370	149	181	with	with	ADP
iiclr-27370	149	182	the	the	DET
iiclr-27370	149	183	sec.57	sec.57	PROPN
iiclr-27370	149	184	further	far	ADV
iiclr-27370	149	185	,	,	PUNCT
iiclr-27370	149	186	cryptocurrency	cryptocurrency	NOUN
iiclr-27370	149	187	exchanges	exchange	NOUN
iiclr-27370	149	188	that	that	SCONJ
iiclr-27370	149	189	49	49	NUM
iiclr-27370	149	190	.	.	PUNCT
iiclr-27370	150	1	what	what	PRON
iiclr-27370	150	2	was	be	AUX
iiclr-27370	150	3	the	the	DET
iiclr-27370	150	4	dao	dao	PROPN
iiclr-27370	150	5	?	?	PROPN
iiclr-27370	150	6	,	,	PUNCT
iiclr-27370	150	7	cryptopedia	cryptopedia	PROPN
iiclr-27370	150	8	,	,	PUNCT
iiclr-27370	150	9	(	(	PUNCT
iiclr-27370	150	10	apr	apr	NOUN
iiclr-27370	150	11	.	.	PROPN
iiclr-27370	150	12	27	27	NUM
iiclr-27370	150	13	,	,	PUNCT
iiclr-27370	150	14	2021	2021	NUM
iiclr-27370	150	15	)	)	PUNCT
iiclr-27370	150	16	,	,	PUNCT
iiclr-27370	150	17	https://www.gemini.com/	https://www.gemini.com/	PROPN
iiclr-27370	150	18	cryptopedia	cryptopedia	PROPN
iiclr-27370	150	19	/	/	SYM
iiclr-27370	150	20	the	the	DET
iiclr-27370	150	21	-	-	PUNCT
iiclr-27370	150	22	dao	dao	NOUN
iiclr-27370	150	23	-	-	PUNCT
iiclr-27370	150	24	hack	hack	NOUN
iiclr-27370	150	25	-	-	PUNCT
iiclr-27370	150	26	makerdao	makerdao	NOUN
iiclr-27370	150	27	[	[	X
iiclr-27370	150	28	https://perma.cc/4vaf-3j7b	https://perma.cc/4vaf-3j7b	X
iiclr-27370	150	29	]	]	X
iiclr-27370	150	30	;	;	PUNCT
iiclr-27370	150	31	brian	brian	PROPN
iiclr-27370	150	32	macniven	macniven	PROPN
iiclr-27370	150	33	,	,	PUNCT
iiclr-27370	150	34	initial	initial	ADJ
iiclr-27370	150	35	coin	coin	NOUN
iiclr-27370	150	36	offerings	offering	NOUN
iiclr-27370	150	37	:	:	PUNCT
iiclr-27370	150	38	striking	strike	VERB
iiclr-27370	150	39	a	a	DET
iiclr-27370	150	40	balance	balance	NOUN
iiclr-27370	150	41	between	between	ADP
iiclr-27370	150	42	protecting	protect	VERB
iiclr-27370	150	43	investors	investor	NOUN
iiclr-27370	150	44	and	and	CCONJ
iiclr-27370	150	45	fostering	foster	VERB
iiclr-27370	150	46	growth	growth	NOUN
iiclr-27370	150	47	,	,	PUNCT
iiclr-27370	150	48	14	14	NUM
iiclr-27370	150	49	rutgers	rutgers	PROPN
iiclr-27370	150	50	bus	bus	NOUN
iiclr-27370	150	51	.	.	PUNCT
iiclr-27370	151	1	l.j	l.j	PROPN
iiclr-27370	151	2	.	.	PROPN
iiclr-27370	151	3	1	1	NUM
iiclr-27370	151	4	,	,	PUNCT
iiclr-27370	151	5	6	6	NUM
iiclr-27370	151	6	(	(	PUNCT
iiclr-27370	151	7	2019	2019	NUM
iiclr-27370	151	8	)	)	PUNCT
iiclr-27370	151	9	.	.	PUNCT
iiclr-27370	152	1	50	50	NUM
iiclr-27370	152	2	.	.	X
iiclr-27370	152	3	macniven	macniven	NOUN
iiclr-27370	152	4	,	,	PUNCT
iiclr-27370	152	5	supra	supra	PROPN
iiclr-27370	152	6	note	note	PROPN
iiclr-27370	152	7	49	49	NUM
iiclr-27370	152	8	,	,	PUNCT
iiclr-27370	152	9	at	at	ADP
iiclr-27370	152	10	6	6	NUM
iiclr-27370	152	11	.	.	NOUN
iiclr-27370	152	12	51	51	NUM
iiclr-27370	152	13	.	.	PUNCT
iiclr-27370	153	1	i	i	PRON
iiclr-27370	153	2	d.	d.	PROPN
iiclr-27370	153	3	52	52	NUM
iiclr-27370	153	4	.	.	PUNCT
iiclr-27370	154	1	report	report	NOUN
iiclr-27370	154	2	of	of	ADP
iiclr-27370	154	3	investigation	investigation	NOUN
iiclr-27370	154	4	pursuant	pursuant	VERB
iiclr-27370	154	5	to	to	ADP
iiclr-27370	154	6	section	section	NOUN
iiclr-27370	154	7	21(a	21(a	NUM
iiclr-27370	154	8	)	)	PUNCT
iiclr-27370	154	9	of	of	ADP
iiclr-27370	154	10	the	the	DET
iiclr-27370	154	11	securities	securities	PROPN
iiclr-27370	154	12	exchange	exchange	PROPN
iiclr-27370	154	13	act	act	NOUN
iiclr-27370	154	14	of	of	ADP
iiclr-27370	154	15	1934	1934	NUM
iiclr-27370	154	16	:	:	PUNCT
iiclr-27370	154	17	the	the	DET
iiclr-27370	154	18	dao	dao	PROPN
iiclr-27370	154	19	,	,	PUNCT
iiclr-27370	154	20	exchange	exchange	NOUN
iiclr-27370	154	21	act	act	NOUN
iiclr-27370	154	22	release	release	VERB
iiclr-27370	154	23	no	no	PRON
iiclr-27370	154	24	.	.	PUNCT
iiclr-27370	154	25	81207	81207	NUM
iiclr-27370	154	26	(	(	PUNCT
iiclr-27370	154	27	july	july	PROPN
iiclr-27370	154	28	25	25	NUM
iiclr-27370	154	29	,	,	PUNCT
iiclr-27370	154	30	2017	2017	NUM
iiclr-27370	154	31	)	)	PUNCT
iiclr-27370	154	32	;	;	PUNCT
iiclr-27370	154	33	securities	security	NOUN
iiclr-27370	154	34	exchange	exchange	PROPN
iiclr-27370	154	35	act	act	NOUN
iiclr-27370	154	36	of	of	ADP
iiclr-27370	154	37	1934	1934	NUM
iiclr-27370	154	38	,	,	PUNCT
iiclr-27370	154	39	15	15	NUM
iiclr-27370	154	40	u.s.c	u.s.c	NOUN
iiclr-27370	154	41	.	.	PUNCT
iiclr-27370	155	1	§	§	PROPN
iiclr-27370	155	2	77b	77b	NUM
iiclr-27370	155	3	.	.	PUNCT
iiclr-27370	156	1	53	53	NUM
iiclr-27370	156	2	.	.	PUNCT
iiclr-27370	157	1	whayoon	whayoon	NOUN
iiclr-27370	157	2	song	song	NOUN
iiclr-27370	157	3	,	,	PUNCT
iiclr-27370	157	4	the	the	DET
iiclr-27370	157	5	future	future	NOUN
iiclr-27370	157	6	of	of	ADP
iiclr-27370	157	7	korean	korean	ADJ
iiclr-27370	157	8	regulation	regulation	NOUN
iiclr-27370	157	9	on	on	ADP
iiclr-27370	157	10	initial	initial	ADJ
iiclr-27370	157	11	coin	coin	NOUN
iiclr-27370	157	12	offerings	offering	NOUN
iiclr-27370	157	13	,	,	PUNCT
iiclr-27370	157	14	12	12	NUM
iiclr-27370	157	15	geo	geo	PROPN
iiclr-27370	157	16	.	.	PROPN
iiclr-27370	157	17	mason	mason	PROPN
iiclr-27370	157	18	int’l	int’l	PROPN
iiclr-27370	157	19	l.j	l.j	PROPN
iiclr-27370	157	20	.	.	PROPN
iiclr-27370	157	21	1	1	NUM
iiclr-27370	157	22	,	,	PUNCT
iiclr-27370	157	23	11	11	NUM
iiclr-27370	157	24	-	-	SYM
iiclr-27370	157	25	12	12	NUM
iiclr-27370	157	26	(	(	PUNCT
iiclr-27370	157	27	2021	2021	NUM
iiclr-27370	157	28	)	)	PUNCT
iiclr-27370	157	29	;	;	PUNCT
iiclr-27370	157	30	see	see	VERB
iiclr-27370	157	31	sec	sec	PROPN
iiclr-27370	157	32	v.	v.	PROPN
iiclr-27370	157	33	w.j	w.j	PROPN
iiclr-27370	157	34	.	.	PROPN
iiclr-27370	157	35	howey	howey	PROPN
iiclr-27370	157	36	co.	co.	PROPN
iiclr-27370	157	37	,	,	PUNCT
iiclr-27370	157	38	328	328	NUM
iiclr-27370	157	39	u.s	u.s	PROPN
iiclr-27370	157	40	.	.	PROPN
iiclr-27370	157	41	293	293	NUM
iiclr-27370	157	42	(	(	PUNCT
iiclr-27370	157	43	1946	1946	NUM
iiclr-27370	157	44	)	)	PUNCT
iiclr-27370	157	45	.	.	PUNCT
iiclr-27370	158	1	54	54	NUM
iiclr-27370	158	2	.	.	PUNCT
iiclr-27370	159	1	nicholas	nicholas	PROPN
iiclr-27370	159	2	georgakopoulos	georgakopoulos	PROPN
iiclr-27370	159	3	,	,	PUNCT
iiclr-27370	159	4	the	the	DET
iiclr-27370	159	5	ralston	ralston	PROPN
iiclr-27370	159	6	-	-	PUNCT
iiclr-27370	159	7	landreth	landreth	PROPN
iiclr-27370	159	8	-	-	PUNCT
iiclr-27370	159	9	gustafson	gustafson	PROPN
iiclr-27370	159	10	harmony	harmony	PROPN
iiclr-27370	159	11	:	:	PUNCT
iiclr-27370	159	12	a	a	DET
iiclr-27370	159	13	security	security	NOUN
iiclr-27370	159	14	!	!	PUNCT
iiclr-27370	160	1	41	41	NUM
iiclr-27370	160	2	cap	cap	NOUN
iiclr-27370	160	3	.	.	PUNCT
iiclr-27370	161	1	l.	l.	PROPN
iiclr-27370	161	2	rev	rev	PROPN
iiclr-27370	161	3	.	.	PUNCT
iiclr-27370	162	1	553	553	NUM
iiclr-27370	162	2	-	-	SYM
iiclr-27370	162	3	602	602	NUM
iiclr-27370	162	4	(	(	PUNCT
iiclr-27370	162	5	2013	2013	NUM
iiclr-27370	162	6	)	)	PUNCT
iiclr-27370	162	7	.	.	PUNCT
iiclr-27370	163	1	55	55	NUM
iiclr-27370	163	2	.	.	PUNCT
iiclr-27370	164	1	matt	matt	PROPN
iiclr-27370	164	2	criswell	criswell	PROPN
iiclr-27370	164	3	,	,	PUNCT
iiclr-27370	164	4	the	the	DET
iiclr-27370	164	5	developing	develop	VERB
iiclr-27370	164	6	universe	universe	NOUN
iiclr-27370	164	7	of	of	ADP
iiclr-27370	164	8	cryptocurrency	cryptocurrency	NOUN
iiclr-27370	164	9	regulation	regulation	NOUN
iiclr-27370	164	10	:	:	PUNCT
iiclr-27370	164	11	a	a	DET
iiclr-27370	164	12	quick	quick	ADJ
iiclr-27370	164	13	survey	survey	NOUN
iiclr-27370	164	14	on	on	ADP
iiclr-27370	164	15	expanding	expand	VERB
iiclr-27370	164	16	regulatory	regulatory	ADJ
iiclr-27370	164	17	authority	authority	NOUN
iiclr-27370	164	18	over	over	ADP
iiclr-27370	164	19	cryptocurrency	cryptocurrency	NOUN
iiclr-27370	164	20	,	,	PUNCT
iiclr-27370	164	21	24	24	NUM
iiclr-27370	164	22	neb	neb	PROPN
iiclr-27370	164	23	.	.	PROPN
iiclr-27370	164	24	law	law	NOUN
iiclr-27370	164	25	.	.	PUNCT
iiclr-27370	165	1	41	41	NUM
iiclr-27370	165	2	,	,	PUNCT
iiclr-27370	165	3	42	42	NUM
iiclr-27370	165	4	(	(	PUNCT
iiclr-27370	165	5	2021	2021	NUM
iiclr-27370	165	6	)	)	PUNCT
iiclr-27370	165	7	.	.	PUNCT
iiclr-27370	166	1	56	56	NUM
iiclr-27370	166	2	.	.	X
iiclr-27370	166	3	macniven	macniven	NOUN
iiclr-27370	166	4	,	,	PUNCT
iiclr-27370	166	5	supra	supra	PROPN
iiclr-27370	166	6	note	note	PROPN
iiclr-27370	166	7	49	49	NUM
iiclr-27370	166	8	,	,	PUNCT
iiclr-27370	166	9	at	at	ADP
iiclr-27370	166	10	6	6	NUM
iiclr-27370	166	11	.	.	NOUN
iiclr-27370	166	12	57	57	NUM
iiclr-27370	166	13	.	.	PUNCT
iiclr-27370	167	1	criswell	criswell	PROPN
iiclr-27370	167	2	,	,	PUNCT
iiclr-27370	167	3	supra	supra	PROPN
iiclr-27370	167	4	note	note	NOUN
iiclr-27370	167	5	55	55	NUM
iiclr-27370	167	6	,	,	PUNCT
iiclr-27370	167	7	at	at	ADP
iiclr-27370	167	8	42	42	NUM
iiclr-27370	167	9	;	;	PUNCT
iiclr-27370	167	10	15	15	NUM
iiclr-27370	167	11	u.s.c	u.s.c	NOUN
iiclr-27370	167	12	.	.	PUNCT
iiclr-27370	168	1	§	§	PROPN
iiclr-27370	168	2	77e	77e	PROPN
iiclr-27370	168	3	(	(	PUNCT
iiclr-27370	168	4	detailing	detail	VERB
iiclr-27370	168	5	that	that	SCONJ
iiclr-27370	168	6	securities	security	NOUN
iiclr-27370	168	7	,	,	PUNCT
iiclr-27370	168	8	in	in	ADP
iiclr-27370	168	9	this	this	DET
iiclr-27370	168	10	case	case	NOUN
iiclr-27370	168	11	2023	2023	NUM
iiclr-27370	168	12	]	]	PUNCT
iiclr-27370	168	13	the	the	DET
iiclr-27370	168	14	wild	wild	ADJ
iiclr-27370	168	15	west	west	NOUN
iiclr-27370	168	16	,	,	PUNCT
iiclr-27370	168	17	cryptocurrency	cryptocurrency	NOUN
iiclr-27370	168	18	,	,	PUNCT
iiclr-27370	168	19	and	and	CCONJ
iiclr-27370	168	20	singapore	singapore	PROPN
iiclr-27370	168	21	199	199	NUM
iiclr-27370	168	22	deal	deal	NOUN
iiclr-27370	168	23	in	in	ADP
iiclr-27370	168	24	security	security	NOUN
iiclr-27370	168	25	-	-	PUNCT
iiclr-27370	168	26	cryptos	crypto	NOUN
iiclr-27370	168	27	are	be	AUX
iiclr-27370	168	28	subject	subject	ADJ
iiclr-27370	168	29	to	to	ADP
iiclr-27370	168	30	the	the	DET
iiclr-27370	168	31	securities	security	NOUN
iiclr-27370	168	32	exchange	exchange	PROPN
iiclr-27370	168	33	act	act	NOUN
iiclr-27370	168	34	of	of	ADP
iiclr-27370	168	35	1934	1934	NUM
iiclr-27370	168	36	,	,	PUNCT
iiclr-27370	168	37	which	which	PRON
iiclr-27370	168	38	defines	define	VERB
iiclr-27370	168	39	them	they	PRON
iiclr-27370	168	40	as	as	ADP
iiclr-27370	168	41	broker	broker	NOUN
iiclr-27370	168	42	-	-	PUNCT
iiclr-27370	168	43	dealers	dealer	NOUN
iiclr-27370	168	44	because	because	SCONJ
iiclr-27370	168	45	they	they	PRON
iiclr-27370	168	46	are	be	AUX
iiclr-27370	168	47	“	"	PUNCT
iiclr-27370	168	48	engaged	engage	VERB
iiclr-27370	168	49	in	in	ADP
iiclr-27370	168	50	the	the	DET
iiclr-27370	168	51	business	business	NOUN
iiclr-27370	168	52	of	of	ADP
iiclr-27370	168	53	effecting	effect	VERB
iiclr-27370	168	54	transactions	transaction	NOUN
iiclr-27370	168	55	in	in	ADP
iiclr-27370	168	56	securities	security	NOUN
iiclr-27370	168	57	for	for	ADP
iiclr-27370	168	58	the	the	DET
iiclr-27370	168	59	account	account	NOUN
iiclr-27370	168	60	of	of	ADP
iiclr-27370	168	61	others	other	NOUN
iiclr-27370	168	62	.	.	PUNCT
iiclr-27370	169	1	”58	”58	ADJ
iiclr-27370	169	2	as	as	ADP
iiclr-27370	169	3	such	such	ADJ
iiclr-27370	169	4	,	,	PUNCT
iiclr-27370	169	5	ico	ico	PROPN
iiclr-27370	169	6	firms	firm	NOUN
iiclr-27370	169	7	must	must	AUX
iiclr-27370	169	8	follow	follow	VERB
iiclr-27370	169	9	sec	sec	PROPN
iiclr-27370	169	10	regulations	regulation	NOUN
iiclr-27370	169	11	that	that	PRON
iiclr-27370	169	12	require	require	VERB
iiclr-27370	169	13	transparency	transparency	NOUN
iiclr-27370	169	14	between	between	ADP
iiclr-27370	169	15	companies	company	NOUN
iiclr-27370	169	16	and	and	CCONJ
iiclr-27370	169	17	investors.59	investors.59	VERB
iiclr-27370	169	18	these	these	DET
iiclr-27370	169	19	regulations	regulation	NOUN
iiclr-27370	169	20	require	require	VERB
iiclr-27370	169	21	that	that	SCONJ
iiclr-27370	169	22	cryptocurrency	cryptocurrency	NOUN
iiclr-27370	169	23	offerors	offeror	NOUN
iiclr-27370	169	24	follow	follow	VERB
iiclr-27370	169	25	anti	anti	ADJ
iiclr-27370	169	26	-	-	ADJ
iiclr-27370	169	27	fraud	fraud	ADJ
iiclr-27370	169	28	provisions	provision	NOUN
iiclr-27370	169	29	that	that	PRON
iiclr-27370	169	30	prohibit	prohibit	VERB
iiclr-27370	169	31	them	they	PRON
iiclr-27370	169	32	from	from	ADP
iiclr-27370	169	33	misleading	mislead	VERB
iiclr-27370	169	34	investors	investor	NOUN
iiclr-27370	169	35	or	or	CCONJ
iiclr-27370	169	36	engaging	engage	VERB
iiclr-27370	169	37	in	in	ADP
iiclr-27370	169	38	fraudulent	fraudulent	ADJ
iiclr-27370	169	39	,	,	PUNCT
iiclr-27370	169	40	manipulative	manipulative	ADJ
iiclr-27370	169	41	,	,	PUNCT
iiclr-27370	169	42	or	or	CCONJ
iiclr-27370	169	43	otherwise	otherwise	ADV
iiclr-27370	169	44	illegal	illegal	ADJ
iiclr-27370	169	45	acts.60	acts.60	PROPN
iiclr-27370	169	46	these	these	DET
iiclr-27370	169	47	antifraud	antifraud	PROPN
iiclr-27370	169	48	provisions	provision	NOUN
iiclr-27370	169	49	are	be	AUX
iiclr-27370	169	50	designed	design	VERB
iiclr-27370	169	51	to	to	PART
iiclr-27370	169	52	maintain	maintain	VERB
iiclr-27370	169	53	high	high	ADJ
iiclr-27370	169	54	industry	industry	NOUN
iiclr-27370	169	55	standards	standard	NOUN
iiclr-27370	169	56	,	,	PUNCT
iiclr-27370	169	57	and	and	CCONJ
iiclr-27370	169	58	include	include	VERB
iiclr-27370	169	59	duties	duty	NOUN
iiclr-27370	169	60	such	such	ADJ
iiclr-27370	169	61	as	as	ADP
iiclr-27370	169	62	a	a	DET
iiclr-27370	169	63	duty	duty	NOUN
iiclr-27370	169	64	of	of	ADP
iiclr-27370	169	65	fair	fair	ADJ
iiclr-27370	169	66	dealing	dealing	NOUN
iiclr-27370	169	67	,	,	PUNCT
iiclr-27370	169	68	an	an	DET
iiclr-27370	169	69	obligation	obligation	NOUN
iiclr-27370	169	70	to	to	PART
iiclr-27370	169	71	seek	seek	VERB
iiclr-27370	169	72	the	the	DET
iiclr-27370	169	73	terms	term	NOUN
iiclr-27370	169	74	most	most	ADV
iiclr-27370	169	75	favorable	favorable	ADJ
iiclr-27370	169	76	to	to	ADP
iiclr-27370	169	77	customers	customer	NOUN
iiclr-27370	169	78	when	when	SCONJ
iiclr-27370	169	79	executing	execute	VERB
iiclr-27370	169	80	orders	order	NOUN
iiclr-27370	169	81	,	,	PUNCT
iiclr-27370	169	82	and	and	CCONJ
iiclr-27370	169	83	a	a	DET
iiclr-27370	169	84	duty	duty	NOUN
iiclr-27370	169	85	to	to	PART
iiclr-27370	169	86	disclose	disclose	VERB
iiclr-27370	169	87	necessary	necessary	ADJ
iiclr-27370	169	88	information	information	NOUN
iiclr-27370	169	89	to	to	ADP
iiclr-27370	169	90	customers	customer	NOUN
iiclr-27370	169	91	,	,	PUNCT
iiclr-27370	169	92	among	among	ADP
iiclr-27370	169	93	other	other	ADJ
iiclr-27370	169	94	obligations.61	obligations.61	NOUN
iiclr-27370	169	95	furthermore	furthermore	ADV
iiclr-27370	169	96	,	,	PUNCT
iiclr-27370	169	97	cryptocurrency	cryptocurrency	NOUN
iiclr-27370	169	98	exchanges	exchange	NOUN
iiclr-27370	169	99	are	be	AUX
iiclr-27370	169	100	required	require	VERB
iiclr-27370	169	101	to	to	PART
iiclr-27370	169	102	maintain	maintain	VERB
iiclr-27370	169	103	certain	certain	ADJ
iiclr-27370	169	104	levels	level	NOUN
iiclr-27370	169	105	of	of	ADP
iiclr-27370	169	106	financial	financial	ADJ
iiclr-27370	169	107	responsibility	responsibility	NOUN
iiclr-27370	169	108	under	under	ADP
iiclr-27370	169	109	the	the	DET
iiclr-27370	169	110	securities	security	NOUN
iiclr-27370	169	111	and	and	CCONJ
iiclr-27370	169	112	exchange	exchange	PROPN
iiclr-27370	169	113	act	act	NOUN
iiclr-27370	169	114	of	of	ADP
iiclr-27370	169	115	1934.62	1934.62	NUM
iiclr-27370	169	116	among	among	ADP
iiclr-27370	169	117	these	these	DET
iiclr-27370	169	118	obligations	obligation	NOUN
iiclr-27370	169	119	is	be	AUX
iiclr-27370	169	120	the	the	DET
iiclr-27370	169	121	duty	duty	NOUN
iiclr-27370	169	122	to	to	PART
iiclr-27370	169	123	maintain	maintain	VERB
iiclr-27370	169	124	the	the	DET
iiclr-27370	169	125	requisite	requisite	ADJ
iiclr-27370	169	126	liquid	liquid	ADJ
iiclr-27370	169	127	assets	asset	NOUN
iiclr-27370	169	128	to	to	PART
iiclr-27370	169	129	fulfill	fulfill	VERB
iiclr-27370	169	130	customer	customer	NOUN
iiclr-27370	169	131	orders	order	NOUN
iiclr-27370	169	132	,	,	PUNCT
iiclr-27370	169	133	to	to	PART
iiclr-27370	169	134	keep	keep	VERB
iiclr-27370	169	135	necessary	necessary	ADJ
iiclr-27370	169	136	books	book	NOUN
iiclr-27370	169	137	,	,	PUNCT
iiclr-27370	169	138	records	record	NOUN
iiclr-27370	169	139	,	,	PUNCT
iiclr-27370	169	140	and	and	CCONJ
iiclr-27370	169	141	reports	report	NOUN
iiclr-27370	169	142	,	,	PUNCT
iiclr-27370	169	143	and	and	CCONJ
iiclr-27370	169	144	to	to	PART
iiclr-27370	169	145	conduct	conduct	VERB
iiclr-27370	169	146	regular	regular	ADJ
iiclr-27370	169	147	risk	risk	NOUN
iiclr-27370	169	148	assessments.63	assessments.63	ADP
iiclr-27370	169	149	a	a	DET
iiclr-27370	169	150	somewhat	somewhat	ADV
iiclr-27370	169	151	problematic	problematic	ADJ
iiclr-27370	169	152	requirement	requirement	NOUN
iiclr-27370	169	153	imposed	impose	VERB
iiclr-27370	169	154	on	on	ADP
iiclr-27370	169	155	cryptocurrency	cryptocurrency	NOUN
iiclr-27370	169	156	exchanges	exchange	NOUN
iiclr-27370	169	157	by	by	ADP
iiclr-27370	169	158	the	the	DET
iiclr-27370	169	159	act	act	NOUN
iiclr-27370	169	160	is	be	AUX
iiclr-27370	169	161	the	the	DET
iiclr-27370	169	162	customer	customer	NOUN
iiclr-27370	169	163	protection	protection	NOUN
iiclr-27370	169	164	rule	rule	NOUN
iiclr-27370	169	165	,	,	PUNCT
iiclr-27370	169	166	which	which	PRON
iiclr-27370	169	167	requires	require	VERB
iiclr-27370	169	168	broker	broker	NOUN
iiclr-27370	169	169	-	-	PUNCT
iiclr-27370	169	170	dealers	dealer	NOUN
iiclr-27370	169	171	to	to	PART
iiclr-27370	169	172	maintain	maintain	VERB
iiclr-27370	169	173	physical	physical	ADJ
iiclr-27370	169	174	possession	possession	NOUN
iiclr-27370	169	175	of	of	ADP
iiclr-27370	169	176	all	all	DET
iiclr-27370	169	177	“	"	PUNCT
iiclr-27370	169	178	fully	fully	ADV
iiclr-27370	169	179	-	-	PUNCT
iiclr-27370	169	180	paid	pay	VERB
iiclr-27370	169	181	or	or	CCONJ
iiclr-27370	169	182	excess	excess	ADJ
iiclr-27370	169	183	margin	margin	NOUN
iiclr-27370	169	184	securities	security	NOUN
iiclr-27370	169	185	held	hold	VERB
iiclr-27370	169	186	for	for	ADP
iiclr-27370	169	187	the	the	DET
iiclr-27370	169	188	account	account	NOUN
iiclr-27370	169	189	of	of	ADP
iiclr-27370	169	190	customers	customer	NOUN
iiclr-27370	169	191	.	.	PUNCT
iiclr-27370	170	1	”64	”64	PROPN
iiclr-27370	170	2	this	this	PRON
iiclr-27370	170	3	creates	create	VERB
iiclr-27370	170	4	problems	problem	NOUN
iiclr-27370	170	5	,	,	PUNCT
iiclr-27370	170	6	of	of	ADP
iiclr-27370	170	7	course	course	NOUN
iiclr-27370	170	8	,	,	PUNCT
iiclr-27370	170	9	because	because	SCONJ
iiclr-27370	170	10	cryptocurrency	cryptocurrency	NOUN
iiclr-27370	170	11	assets	asset	NOUN
iiclr-27370	170	12	are	be	AUX
iiclr-27370	170	13	not	not	PART
iiclr-27370	170	14	tangible	tangible	ADJ
iiclr-27370	170	15	—	—	PUNCT
iiclr-27370	170	16	thus	thus	ADV
iiclr-27370	170	17	the	the	DET
iiclr-27370	170	18	question	question	NOUN
iiclr-27370	170	19	arises	arise	VERB
iiclr-27370	170	20	:	:	PUNCT
iiclr-27370	170	21	how	how	SCONJ
iiclr-27370	170	22	can	can	AUX
iiclr-27370	170	23	a	a	DET
iiclr-27370	170	24	cryptocurrency	cryptocurrency	NOUN
iiclr-27370	170	25	exchange	exchange	NOUN
iiclr-27370	170	26	maintain	maintain	VERB
iiclr-27370	170	27	physical	physical	ADJ
iiclr-27370	170	28	possession	possession	NOUN
iiclr-27370	170	29	of	of	ADP
iiclr-27370	170	30	these	these	DET
iiclr-27370	170	31	intangible	intangible	ADJ
iiclr-27370	170	32	assets	asset	NOUN
iiclr-27370	170	33	?	?	PUNCT
iiclr-27370	171	1	on	on	ADP
iiclr-27370	171	2	february	february	PROPN
iiclr-27370	171	3	26	26	NUM
iiclr-27370	171	4	,	,	PUNCT
iiclr-27370	171	5	2021	2021	NUM
iiclr-27370	171	6	,	,	PUNCT
iiclr-27370	171	7	the	the	DET
iiclr-27370	171	8	sec	sec	PROPN
iiclr-27370	171	9	attempted	attempt	VERB
iiclr-27370	171	10	to	to	PART
iiclr-27370	171	11	remedy	remedy	VERB
iiclr-27370	171	12	this	this	DET
iiclr-27370	171	13	problem	problem	NOUN
iiclr-27370	171	14	when	when	SCONJ
iiclr-27370	171	15	it	it	PRON
iiclr-27370	171	16	issued	issue	VERB
iiclr-27370	171	17	a	a	DET
iiclr-27370	171	18	statement	statement	NOUN
iiclr-27370	171	19	on	on	ADP
iiclr-27370	171	20	the	the	DET
iiclr-27370	171	21	custody	custody	NOUN
iiclr-27370	171	22	of	of	ADP
iiclr-27370	171	23	digital	digital	ADJ
iiclr-27370	171	24	asset	asset	NOUN
iiclr-27370	171	25	securities	security	NOUN
iiclr-27370	171	26	by	by	ADP
iiclr-27370	171	27	special	special	ADJ
iiclr-27370	171	28	purpose	purpose	NOUN
iiclr-27370	171	29	broker	broker	NOUN
iiclr-27370	171	30	-	-	PUNCT
iiclr-27370	171	31	dealers	dealer	NOUN
iiclr-27370	171	32	,	,	PUNCT
iiclr-27370	171	33	an	an	DET
iiclr-27370	171	34	sec	sec	PROPN
iiclr-27370	171	35	rule	rule	NOUN
iiclr-27370	171	36	providing	provide	VERB
iiclr-27370	171	37	a	a	DET
iiclr-27370	171	38	five	five	NUM
iiclr-27370	171	39	-	-	PUNCT
iiclr-27370	171	40	year	year	NOUN
iiclr-27370	171	41	safe	safe	ADJ
iiclr-27370	171	42	harbor	harbor	NOUN
iiclr-27370	171	43	shielding	shield	VERB
iiclr-27370	171	44	cryptocurrency	cryptocurrency	NOUN
iiclr-27370	171	45	exchanges	exchange	NOUN
iiclr-27370	171	46	from	from	ADP
iiclr-27370	171	47	sec	sec	PROPN
iiclr-27370	171	48	enforcement	enforcement	NOUN
iiclr-27370	171	49	action	action	NOUN
iiclr-27370	171	50	for	for	ADP
iiclr-27370	171	51	violations	violation	NOUN
iiclr-27370	171	52	of	of	ADP
iiclr-27370	171	53	the	the	DET
iiclr-27370	171	54	customer	customer	NOUN
iiclr-27370	171	55	protection	protection	NOUN
iiclr-27370	171	56	rule.65	rule.65	ADV
iiclr-27370	171	57	in	in	ADP
iiclr-27370	171	58	this	this	DET
iiclr-27370	171	59	statement	statement	NOUN
iiclr-27370	171	60	,	,	PUNCT
iiclr-27370	171	61	the	the	DET
iiclr-27370	171	62	sec	sec	PROPN
iiclr-27370	171	63	acknowledged	acknowledge	VERB
iiclr-27370	171	64	the	the	DET
iiclr-27370	171	65	difficulties	difficulty	NOUN
iiclr-27370	171	66	that	that	PRON
iiclr-27370	171	67	broker	broker	NOUN
iiclr-27370	171	68	-	-	PUNCT
iiclr-27370	171	69	dealers	dealer	NOUN
iiclr-27370	171	70	who	who	PRON
iiclr-27370	171	71	transact	transact	VERB
iiclr-27370	171	72	in	in	ADP
iiclr-27370	171	73	cryptocurrency	cryptocurrency	NOUN
iiclr-27370	171	74	experience	experience	NOUN
iiclr-27370	171	75	when	when	SCONJ
iiclr-27370	171	76	trying	try	VERB
iiclr-27370	171	77	to	to	PART
iiclr-27370	171	78	comply	comply	VERB
iiclr-27370	171	79	with	with	ADP
iiclr-27370	171	80	the	the	DET
iiclr-27370	171	81	securities	security	NOUN
iiclr-27370	171	82	and	and	CCONJ
iiclr-27370	171	83	exchange	exchange	PROPN
iiclr-27370	171	84	act	act	NOUN
iiclr-27370	171	85	of	of	ADP
iiclr-27370	171	86	1934	1934	NUM
iiclr-27370	171	87	,	,	PUNCT
iiclr-27370	171	88	especially	especially	ADV
iiclr-27370	171	89	the	the	DET
iiclr-27370	171	90	customer	customer	NOUN
iiclr-27370	171	91	protection	protection	NOUN
iiclr-27370	171	92	rule.66	rule.66	NOUN
iiclr-27370	171	93	in	in	ADP
iiclr-27370	171	94	response	response	NOUN
iiclr-27370	171	95	to	to	ADP
iiclr-27370	171	96	these	these	DET
iiclr-27370	171	97	difficulties	difficulty	NOUN
iiclr-27370	171	98	,	,	PUNCT
iiclr-27370	171	99	the	the	DET
iiclr-27370	171	100	sec	sec	PROPN
iiclr-27370	171	101	announced	announce	VERB
iiclr-27370	171	102	that	that	SCONJ
iiclr-27370	171	103	“	"	PUNCT
iiclr-27370	171	104	special	special	ADJ
iiclr-27370	171	105	purpose	purpose	NOUN
iiclr-27370	171	106	broker	broker	NOUN
iiclr-27370	171	107	-	-	PUNCT
iiclr-27370	171	108	dealers	dealer	NOUN
iiclr-27370	171	109	”	"	PUNCT
iiclr-27370	171	110	that	that	PRON
iiclr-27370	171	111	transact	transact	VERB
iiclr-27370	171	112	exclusively	exclusively	ADV
iiclr-27370	171	113	in	in	ADP
iiclr-27370	171	114	cryptocurrencies	cryptocurrencie	NOUN
iiclr-27370	171	115	cryptocurrencies	cryptocurrencie	NOUN
iiclr-27370	171	116	,	,	PUNCT
iiclr-27370	171	117	are	be	AUX
iiclr-27370	171	118	prohibited	prohibit	VERB
iiclr-27370	171	119	from	from	ADP
iiclr-27370	171	120	entering	enter	VERB
iiclr-27370	171	121	the	the	DET
iiclr-27370	171	122	stream	stream	NOUN
iiclr-27370	171	123	of	of	ADP
iiclr-27370	171	124	interstate	interstate	ADJ
iiclr-27370	171	125	commerce	commerce	NOUN
iiclr-27370	171	126	unless	unless	SCONJ
iiclr-27370	171	127	they	they	PRON
iiclr-27370	171	128	are	be	AUX
iiclr-27370	171	129	properly	properly	ADV
iiclr-27370	171	130	registered	register	VERB
iiclr-27370	171	131	with	with	ADP
iiclr-27370	171	132	the	the	DET
iiclr-27370	171	133	sec	sec	PROPN
iiclr-27370	171	134	)	)	PUNCT
iiclr-27370	171	135	.	.	PUNCT
iiclr-27370	172	1	58	58	NUM
iiclr-27370	172	2	.	.	PUNCT
iiclr-27370	173	1	i	i	PRON
iiclr-27370	173	2	d.	d.	PROPN
iiclr-27370	173	3	at	at	ADP
iiclr-27370	173	4	42	42	NUM
iiclr-27370	173	5	-	-	SYM
iiclr-27370	173	6	43	43	NUM
iiclr-27370	173	7	;	;	PUNCT
iiclr-27370	173	8	guide	guide	VERB
iiclr-27370	173	9	to	to	ADP
iiclr-27370	173	10	broker	broker	NOUN
iiclr-27370	173	11	-	-	PUNCT
iiclr-27370	173	12	dealer	dealer	NOUN
iiclr-27370	173	13	registration	registration	NOUN
iiclr-27370	173	14	,	,	PUNCT
iiclr-27370	173	15	sec	sec	PROPN
iiclr-27370	173	16	,	,	PUNCT
iiclr-27370	173	17	https://www.sec.gov/reports	https://www.sec.gov/reports	PROPN
iiclr-27370	173	18	pubs	pub	NOUN
iiclr-27370	173	19	/	/	SYM
iiclr-27370	173	20	investor	investor	NOUN
iiclr-27370	173	21	-	-	PUNCT
iiclr-27370	173	22	publications	publication	NOUN
iiclr-27370	173	23	/	/	SYM
iiclr-27370	173	24	divisionsmarketregbdguidehtm.html	divisionsmarketregbdguidehtm.html	PROPN
iiclr-27370	174	1	[	[	X
iiclr-27370	174	2	https://perma.cc/b6hw-wwjg	https://perma.cc/b6hw-wwjg	NOUN
iiclr-27370	174	3	]	]	X
iiclr-27370	174	4	;	;	PUNCT
iiclr-27370	174	5	15	15	NUM
iiclr-27370	174	6	u.s.c	u.s.c	NOUN
iiclr-27370	174	7	.	.	PUNCT
iiclr-27370	175	1	§	§	PROPN
iiclr-27370	175	2	78c	78c	PROPN
iiclr-27370	175	3	.	.	PUNCT
iiclr-27370	176	1	59	59	NUM
iiclr-27370	176	2	.	.	PUNCT
iiclr-27370	176	3	criswell	criswell	PROPN
iiclr-27370	176	4	,	,	PUNCT
iiclr-27370	176	5	supra	supra	PROPN
iiclr-27370	176	6	note	note	NOUN
iiclr-27370	176	7	55	55	NUM
iiclr-27370	176	8	,	,	PUNCT
iiclr-27370	176	9	at	at	ADP
iiclr-27370	176	10	42	42	NUM
iiclr-27370	176	11	.	.	PUNCT
iiclr-27370	176	12	60	60	NUM
iiclr-27370	176	13	.	.	PUNCT
iiclr-27370	177	1	guide	guide	VERB
iiclr-27370	177	2	to	to	ADP
iiclr-27370	177	3	broker	broker	NOUN
iiclr-27370	177	4	-	-	PUNCT
iiclr-27370	177	5	dealer	dealer	NOUN
iiclr-27370	177	6	registration	registration	NOUN
iiclr-27370	177	7	,	,	PUNCT
iiclr-27370	177	8	supra	supra	PROPN
iiclr-27370	177	9	note	note	NOUN
iiclr-27370	177	10	58	58	NUM
iiclr-27370	177	11	.	.	PUNCT
iiclr-27370	178	1	61	61	NUM
iiclr-27370	178	2	.	.	PUNCT
iiclr-27370	179	1	i	i	PRON
iiclr-27370	179	2	d.	d.	PROPN
iiclr-27370	179	3	62	62	NUM
iiclr-27370	179	4	.	.	PUNCT
iiclr-27370	180	1	i	i	PRON
iiclr-27370	180	2	d.	d.	PROPN
iiclr-27370	180	3	63	63	NUM
iiclr-27370	180	4	.	.	PUNCT
iiclr-27370	181	1	i	i	PRON
iiclr-27370	181	2	d.	d.	PROPN
iiclr-27370	181	3	64	64	NUM
iiclr-27370	181	4	.	.	PUNCT
iiclr-27370	182	1	i	i	PRON
iiclr-27370	182	2	d.	d.	PROPN
iiclr-27370	182	3	65	65	NUM
iiclr-27370	182	4	.	.	PUNCT
iiclr-27370	182	5	see	see	VERB
iiclr-27370	182	6	custody	custody	NOUN
iiclr-27370	182	7	of	of	ADP
iiclr-27370	182	8	digital	digital	ADJ
iiclr-27370	182	9	asset	asset	NOUN
iiclr-27370	182	10	securities	security	NOUN
iiclr-27370	182	11	by	by	ADP
iiclr-27370	182	12	special	special	ADJ
iiclr-27370	182	13	purpose	purpose	NOUN
iiclr-27370	182	14	broker	broker	NOUN
iiclr-27370	182	15	-	-	PUNCT
iiclr-27370	182	16	dealers	dealer	NOUN
iiclr-27370	182	17	,	,	PUNCT
iiclr-27370	182	18	86	86	NUM
iiclr-27370	182	19	fed	fed	PROPN
iiclr-27370	182	20	.	.	PUNCT
iiclr-27370	183	1	reg	reg	PROPN
iiclr-27370	183	2	.	.	PUNCT
iiclr-27370	184	1	11627	11627	NUM
iiclr-27370	184	2	(	(	PUNCT
iiclr-27370	184	3	february	february	PROPN
iiclr-27370	184	4	26	26	NUM
iiclr-27370	184	5	,	,	PUNCT
iiclr-27370	184	6	2021	2021	NUM
iiclr-27370	184	7	)	)	PUNCT
iiclr-27370	184	8	.	.	PUNCT
iiclr-27370	185	1	66	66	NUM
iiclr-27370	185	2	.	.	PUNCT
iiclr-27370	186	1	i	i	PRON
iiclr-27370	186	2	d.	d.	PROPN
iiclr-27370	186	3	200	200	NUM
iiclr-27370	186	4	indiana	indiana	PROPN
iiclr-27370	186	5	int’l	int’l	NUM
iiclr-27370	186	6	&	&	CCONJ
iiclr-27370	186	7	comp	comp	PROPN
iiclr-27370	186	8	.	.	PUNCT
iiclr-27370	187	1	law	law	NOUN
iiclr-27370	187	2	review	review	NOUN
iiclr-27370	188	1	[	[	X
iiclr-27370	188	2	vol	vol	NOUN
iiclr-27370	188	3	.	.	PUNCT
iiclr-27370	189	1	33:191	33:191	NUM
iiclr-27370	189	2	would	would	AUX
iiclr-27370	189	3	not	not	PART
iiclr-27370	189	4	be	be	AUX
iiclr-27370	189	5	subject	subject	ADJ
iiclr-27370	189	6	to	to	ADP
iiclr-27370	189	7	the	the	DET
iiclr-27370	189	8	customer	customer	NOUN
iiclr-27370	189	9	protection	protection	NOUN
iiclr-27370	189	10	rule	rule	NOUN
iiclr-27370	189	11	for	for	ADP
iiclr-27370	189	12	a	a	DET
iiclr-27370	189	13	period	period	NOUN
iiclr-27370	189	14	of	of	ADP
iiclr-27370	189	15	five	five	NUM
iiclr-27370	189	16	years.67	years.67	NOUN
iiclr-27370	189	17	while	while	SCONJ
iiclr-27370	189	18	this	this	DET
iiclr-27370	189	19	relief	relief	NOUN
iiclr-27370	189	20	was	be	AUX
iiclr-27370	189	21	certainly	certainly	ADV
iiclr-27370	189	22	welcomed	welcome	VERB
iiclr-27370	189	23	by	by	ADP
iiclr-27370	189	24	cryptocurrency	cryptocurrency	NOUN
iiclr-27370	189	25	exchanges	exchange	NOUN
iiclr-27370	189	26	,	,	PUNCT
iiclr-27370	189	27	such	such	ADJ
iiclr-27370	189	28	exchanges	exchange	NOUN
iiclr-27370	189	29	were	be	AUX
iiclr-27370	189	30	also	also	ADV
iiclr-27370	189	31	imposed	impose	VERB
iiclr-27370	189	32	with	with	ADP
iiclr-27370	189	33	a	a	DET
iiclr-27370	189	34	number	number	NOUN
iiclr-27370	189	35	of	of	ADP
iiclr-27370	189	36	conditions	condition	NOUN
iiclr-27370	189	37	that	that	PRON
iiclr-27370	189	38	must	must	AUX
iiclr-27370	189	39	be	be	AUX
iiclr-27370	189	40	met	meet	VERB
iiclr-27370	189	41	in	in	ADP
iiclr-27370	189	42	order	order	NOUN
iiclr-27370	189	43	to	to	PART
iiclr-27370	189	44	be	be	AUX
iiclr-27370	189	45	eligible	eligible	ADJ
iiclr-27370	189	46	for	for	ADP
iiclr-27370	189	47	this	this	DET
iiclr-27370	189	48	safe	safe	ADJ
iiclr-27370	189	49	harbor.68	harbor.68	NOUN
iiclr-27370	189	50	namely	namely	ADV
iiclr-27370	189	51	,	,	PUNCT
iiclr-27370	189	52	a	a	DET
iiclr-27370	189	53	cryptocurrency	cryptocurrency	NOUN
iiclr-27370	189	54	exchange	exchange	NOUN
iiclr-27370	189	55	,	,	PUNCT
iiclr-27370	189	56	in	in	ADP
iiclr-27370	189	57	order	order	NOUN
iiclr-27370	189	58	to	to	PART
iiclr-27370	189	59	qualify	qualify	VERB
iiclr-27370	189	60	for	for	ADP
iiclr-27370	189	61	this	this	DET
iiclr-27370	189	62	relief	relief	NOUN
iiclr-27370	189	63	,	,	PUNCT
iiclr-27370	189	64	is	be	AUX
iiclr-27370	189	65	required	require	VERB
iiclr-27370	189	66	to	to	PART
iiclr-27370	189	67	deal	deal	VERB
iiclr-27370	189	68	exclusively	exclusively	ADV
iiclr-27370	189	69	in	in	ADP
iiclr-27370	189	70	cryptocurrencies.69	cryptocurrencies.69	NOUN
iiclr-27370	189	71	exchanges	exchange	NOUN
iiclr-27370	189	72	are	be	AUX
iiclr-27370	189	73	also	also	ADV
iiclr-27370	189	74	required	require	VERB
iiclr-27370	189	75	to	to	PART
iiclr-27370	189	76	have	have	VERB
iiclr-27370	189	77	access	access	NOUN
iiclr-27370	189	78	to	to	ADP
iiclr-27370	189	79	,	,	PUNCT
iiclr-27370	189	80	and	and	CCONJ
iiclr-27370	189	81	the	the	DET
iiclr-27370	189	82	ability	ability	NOUN
iiclr-27370	189	83	to	to	PART
iiclr-27370	189	84	transfer	transfer	VERB
iiclr-27370	189	85	,	,	PUNCT
iiclr-27370	189	86	the	the	DET
iiclr-27370	189	87	cryptocurrencies	cryptocurrencie	NOUN
iiclr-27370	189	88	held	hold	VERB
iiclr-27370	189	89	by	by	ADP
iiclr-27370	189	90	their	their	PRON
iiclr-27370	189	91	customers.70	customers.70	NOUN
iiclr-27370	189	92	this	this	DET
iiclr-27370	189	93	safe	safe	ADJ
iiclr-27370	189	94	harbor	harbor	NOUN
iiclr-27370	189	95	rule	rule	NOUN
iiclr-27370	189	96	also	also	ADV
iiclr-27370	189	97	imposes	impose	VERB
iiclr-27370	189	98	a	a	DET
iiclr-27370	189	99	requirement	requirement	NOUN
iiclr-27370	189	100	that	that	SCONJ
iiclr-27370	189	101	exchanges	exchange	NOUN
iiclr-27370	189	102	must	must	AUX
iiclr-27370	189	103	develop	develop	VERB
iiclr-27370	189	104	,	,	PUNCT
iiclr-27370	189	105	document	document	NOUN
iiclr-27370	189	106	,	,	PUNCT
iiclr-27370	189	107	and	and	CCONJ
iiclr-27370	189	108	enforce	enforce	VERB
iiclr-27370	189	109	written	write	VERB
iiclr-27370	189	110	policies	policy	NOUN
iiclr-27370	189	111	for	for	ADP
iiclr-27370	189	112	determining	determine	VERB
iiclr-27370	189	113	whether	whether	SCONJ
iiclr-27370	189	114	an	an	DET
iiclr-27370	189	115	asset	asset	NOUN
iiclr-27370	189	116	is	be	AUX
iiclr-27370	189	117	a	a	DET
iiclr-27370	189	118	security.71	security.71	NOUN
iiclr-27370	189	119	in	in	ADP
iiclr-27370	189	120	addition	addition	NOUN
iiclr-27370	189	121	,	,	PUNCT
iiclr-27370	189	122	the	the	DET
iiclr-27370	189	123	exchanges	exchange	NOUN
iiclr-27370	189	124	must	must	AUX
iiclr-27370	189	125	refrain	refrain	VERB
iiclr-27370	189	126	from	from	ADP
iiclr-27370	189	127	maintaining	maintain	VERB
iiclr-27370	189	128	any	any	DET
iiclr-27370	189	129	risky	risky	ADJ
iiclr-27370	189	130	or	or	CCONJ
iiclr-27370	189	131	problematic	problematic	ADJ
iiclr-27370	189	132	cryptocurrencies	cryptocurrencie	NOUN
iiclr-27370	189	133	,	,	PUNCT
iiclr-27370	189	134	provide	provide	VERB
iiclr-27370	189	135	written	write	VERB
iiclr-27370	189	136	disclosures	disclosure	NOUN
iiclr-27370	189	137	to	to	ADP
iiclr-27370	189	138	potential	potential	ADJ
iiclr-27370	189	139	customers	customer	NOUN
iiclr-27370	189	140	that	that	SCONJ
iiclr-27370	189	141	the	the	DET
iiclr-27370	189	142	exchange	exchange	NOUN
iiclr-27370	189	143	is	be	AUX
iiclr-27370	189	144	deeming	deem	VERB
iiclr-27370	189	145	itself	itself	PRON
iiclr-27370	189	146	to	to	PART
iiclr-27370	189	147	be	be	AUX
iiclr-27370	189	148	in	in	ADP
iiclr-27370	189	149	custody	custody	NOUN
iiclr-27370	189	150	of	of	ADP
iiclr-27370	189	151	any	any	DET
iiclr-27370	189	152	crypto	crypto	NOUN
iiclr-27370	189	153	they	they	PRON
iiclr-27370	189	154	purchase	purchase	VERB
iiclr-27370	189	155	,	,	PUNCT
iiclr-27370	189	156	and	and	CCONJ
iiclr-27370	189	157	provide	provide	VERB
iiclr-27370	189	158	customers	customer	NOUN
iiclr-27370	189	159	written	write	VERB
iiclr-27370	189	160	notice	notice	NOUN
iiclr-27370	189	161	of	of	ADP
iiclr-27370	189	162	the	the	DET
iiclr-27370	189	163	dangers	danger	NOUN
iiclr-27370	189	164	of	of	ADP
iiclr-27370	189	165	cryptocurrency.72	cryptocurrency.72	NOUN
iiclr-27370	189	166	finally	finally	ADV
iiclr-27370	189	167	,	,	PUNCT
iiclr-27370	189	168	exchanges	exchange	NOUN
iiclr-27370	189	169	are	be	AUX
iiclr-27370	189	170	required	require	VERB
iiclr-27370	189	171	to	to	PART
iiclr-27370	189	172	enter	enter	VERB
iiclr-27370	189	173	into	into	ADP
iiclr-27370	189	174	a	a	DET
iiclr-27370	189	175	written	write	VERB
iiclr-27370	189	176	agreement	agreement	NOUN
iiclr-27370	189	177	with	with	ADP
iiclr-27370	189	178	each	each	DET
iiclr-27370	189	179	customer	customer	NOUN
iiclr-27370	189	180	about	about	ADP
iiclr-27370	189	181	the	the	DET
iiclr-27370	189	182	terms	term	NOUN
iiclr-27370	189	183	of	of	ADP
iiclr-27370	189	184	holding	hold	VERB
iiclr-27370	189	185	a	a	DET
iiclr-27370	189	186	crypto	crypto	NOUN
iiclr-27370	189	187	asset	asset	NOUN
iiclr-27370	189	188	with	with	ADP
iiclr-27370	189	189	that	that	DET
iiclr-27370	189	190	exchange.73	exchange.73	NOUN
iiclr-27370	189	191	if	if	SCONJ
iiclr-27370	189	192	any	any	PRON
iiclr-27370	189	193	of	of	ADP
iiclr-27370	189	194	these	these	DET
iiclr-27370	189	195	conditions	condition	NOUN
iiclr-27370	189	196	are	be	AUX
iiclr-27370	189	197	not	not	PART
iiclr-27370	189	198	met	meet	VERB
iiclr-27370	189	199	,	,	PUNCT
iiclr-27370	189	200	an	an	DET
iiclr-27370	189	201	exchange	exchange	NOUN
iiclr-27370	189	202	will	will	AUX
iiclr-27370	189	203	not	not	PART
iiclr-27370	189	204	fall	fall	VERB
iiclr-27370	189	205	under	under	ADP
iiclr-27370	189	206	the	the	DET
iiclr-27370	189	207	umbrella	umbrella	NOUN
iiclr-27370	189	208	of	of	ADP
iiclr-27370	189	209	the	the	DET
iiclr-27370	189	210	safe	safe	ADJ
iiclr-27370	189	211	harbor	harbor	NOUN
iiclr-27370	189	212	provided	provide	VERB
iiclr-27370	189	213	by	by	ADP
iiclr-27370	189	214	the	the	DET
iiclr-27370	189	215	sec.74	sec.74	ADJ
iiclr-27370	189	216	while	while	SCONJ
iiclr-27370	189	217	this	this	DET
iiclr-27370	189	218	safe	safe	ADJ
iiclr-27370	189	219	harbor	harbor	NOUN
iiclr-27370	189	220	provision	provision	NOUN
iiclr-27370	189	221	does	do	AUX
iiclr-27370	189	222	offer	offer	VERB
iiclr-27370	189	223	some	some	DET
iiclr-27370	189	224	protection	protection	NOUN
iiclr-27370	189	225	to	to	ADP
iiclr-27370	189	226	exchanges	exchange	NOUN
iiclr-27370	189	227	,	,	PUNCT
iiclr-27370	189	228	the	the	DET
iiclr-27370	189	229	sec	sec	PROPN
iiclr-27370	189	230	has	have	AUX
iiclr-27370	189	231	acknowledged	acknowledge	VERB
iiclr-27370	189	232	that	that	SCONJ
iiclr-27370	189	233	it	it	PRON
iiclr-27370	189	234	is	be	AUX
iiclr-27370	189	235	only	only	ADV
iiclr-27370	189	236	a	a	DET
iiclr-27370	189	237	temporary	temporary	ADJ
iiclr-27370	189	238	fix.75	fix.75	NOUN
iiclr-27370	189	239	in	in	ADP
iiclr-27370	189	240	the	the	DET
iiclr-27370	189	241	statement	statement	NOUN
iiclr-27370	189	242	,	,	PUNCT
iiclr-27370	189	243	the	the	DET
iiclr-27370	189	244	sec	sec	PROPN
iiclr-27370	189	245	asserted	assert	VERB
iiclr-27370	189	246	that	that	SCONJ
iiclr-27370	189	247	it	it	PRON
iiclr-27370	189	248	“	"	PUNCT
iiclr-27370	189	249	envisions	envision	VERB
iiclr-27370	189	250	broker	broker	NOUN
iiclr-27370	189	251	-	-	PUNCT
iiclr-27370	189	252	dealers	dealer	NOUN
iiclr-27370	189	253	performing	perform	VERB
iiclr-27370	189	254	the	the	DET
iiclr-27370	189	255	full	full	ADJ
iiclr-27370	189	256	set	set	NOUN
iiclr-27370	189	257	of	of	ADP
iiclr-27370	189	258	broker	broker	NOUN
iiclr-27370	189	259	-	-	PUNCT
iiclr-27370	189	260	dealer	dealer	NOUN
iiclr-27370	189	261	functions	function	NOUN
iiclr-27370	189	262	with	with	ADP
iiclr-27370	189	263	respect	respect	NOUN
iiclr-27370	189	264	to	to	ADP
iiclr-27370	189	265	digital	digital	ADJ
iiclr-27370	189	266	asset	asset	NOUN
iiclr-27370	189	267	securities	security	NOUN
iiclr-27370	189	268	—	—	PUNCT
iiclr-27370	189	269	including	include	VERB
iiclr-27370	189	270	maintaining	maintain	VERB
iiclr-27370	189	271	custody	custody	NOUN
iiclr-27370	189	272	of	of	ADP
iiclr-27370	189	273	these	these	DET
iiclr-27370	189	274	assets	asset	NOUN
iiclr-27370	189	275	—	—	PUNCT
iiclr-27370	189	276	in	in	ADP
iiclr-27370	189	277	a	a	DET
iiclr-27370	189	278	manner	manner	NOUN
iiclr-27370	189	279	that	that	PRON
iiclr-27370	189	280	addresses	address	VERB
iiclr-27370	189	281	the	the	DET
iiclr-27370	189	282	unique	unique	ADJ
iiclr-27370	189	283	attributes	attribute	NOUN
iiclr-27370	189	284	of	of	ADP
iiclr-27370	189	285	digital	digital	ADJ
iiclr-27370	189	286	asset	asset	NOUN
iiclr-27370	189	287	securities	security	NOUN
iiclr-27370	189	288	and	and	CCONJ
iiclr-27370	189	289	minimizes	minimize	VERB
iiclr-27370	189	290	risk	risk	NOUN
iiclr-27370	189	291	to	to	ADP
iiclr-27370	189	292	investors	investor	NOUN
iiclr-27370	189	293	and	and	CCONJ
iiclr-27370	189	294	other	other	ADJ
iiclr-27370	189	295	market	market	NOUN
iiclr-27370	189	296	participants	participant	NOUN
iiclr-27370	189	297	.	.	PUNCT
iiclr-27370	190	1	”76	”76	PRON
iiclr-27370	191	1	although	although	SCONJ
iiclr-27370	191	2	courts	court	NOUN
iiclr-27370	191	3	have	have	AUX
iiclr-27370	191	4	held	hold	VERB
iiclr-27370	191	5	that	that	SCONJ
iiclr-27370	191	6	cryptocurrencies	cryptocurrencie	NOUN
iiclr-27370	191	7	,	,	PUNCT
iiclr-27370	191	8	as	as	ADP
iiclr-27370	191	9	a	a	DET
iiclr-27370	191	10	general	general	ADJ
iiclr-27370	191	11	matter	matter	NOUN
iiclr-27370	191	12	,	,	PUNCT
iiclr-27370	191	13	are	be	AUX
iiclr-27370	191	14	investment	investment	NOUN
iiclr-27370	191	15	contracts	contract	NOUN
iiclr-27370	191	16	subject	subject	ADJ
iiclr-27370	191	17	to	to	ADP
iiclr-27370	191	18	the	the	DET
iiclr-27370	191	19	sec	sec	PROPN
iiclr-27370	191	20	’s	’s	PART
iiclr-27370	191	21	jurisdiction	jurisdiction	NOUN
iiclr-27370	191	22	,	,	PUNCT
iiclr-27370	191	23	there	there	PRON
iiclr-27370	191	24	are	be	VERB
iiclr-27370	191	25	conceivable	conceivable	ADJ
iiclr-27370	191	26	situations	situation	NOUN
iiclr-27370	191	27	in	in	ADP
iiclr-27370	191	28	which	which	PRON
iiclr-27370	191	29	a	a	DET
iiclr-27370	191	30	hypothetical	hypothetical	ADJ
iiclr-27370	191	31	token	token	NOUN
iiclr-27370	191	32	might	might	AUX
iiclr-27370	191	33	be	be	AUX
iiclr-27370	191	34	designed	design	VERB
iiclr-27370	191	35	for	for	ADP
iiclr-27370	191	36	the	the	DET
iiclr-27370	191	37	purpose	purpose	NOUN
iiclr-27370	191	38	of	of	ADP
iiclr-27370	191	39	personal	personal	ADJ
iiclr-27370	191	40	consumption	consumption	NOUN
iiclr-27370	191	41	,	,	PUNCT
iiclr-27370	191	42	thus	thus	ADV
iiclr-27370	191	43	failing	fail	VERB
iiclr-27370	191	44	to	to	PART
iiclr-27370	191	45	invoke	invoke	VERB
iiclr-27370	191	46	howey.77	howey.77	ADV
iiclr-27370	191	47	the	the	DET
iiclr-27370	191	48	sec	sec	PROPN
iiclr-27370	191	49	released	release	VERB
iiclr-27370	191	50	guidelines	guideline	NOUN
iiclr-27370	191	51	in	in	ADP
iiclr-27370	191	52	2019	2019	NUM
iiclr-27370	191	53	to	to	PART
iiclr-27370	191	54	help	help	VERB
iiclr-27370	191	55	the	the	DET
iiclr-27370	191	56	public	public	NOUN
iiclr-27370	191	57	better	well	ADV
iiclr-27370	191	58	understand	understand	VERB
iiclr-27370	191	59	the	the	DET
iiclr-27370	191	60	application	application	NOUN
iiclr-27370	191	61	of	of	ADP
iiclr-27370	191	62	the	the	DET
iiclr-27370	191	63	howey	howey	PROPN
iiclr-27370	191	64	test	test	NOUN
iiclr-27370	191	65	to	to	ADP
iiclr-27370	191	66	icos.78	icos.78	PROPN
iiclr-27370	191	67	this	this	DET
iiclr-27370	191	68	guideline	guideline	NOUN
iiclr-27370	191	69	states	state	VERB
iiclr-27370	191	70	that	that	SCONJ
iiclr-27370	191	71	in	in	ADP
iiclr-27370	191	72	the	the	DET
iiclr-27370	191	73	case	case	NOUN
iiclr-27370	191	74	of	of	ADP
iiclr-27370	191	75	icos	icos	PROPN
iiclr-27370	191	76	,	,	PUNCT
iiclr-27370	191	77	the	the	DET
iiclr-27370	191	78	first	first	ADJ
iiclr-27370	191	79	two	two	NUM
iiclr-27370	191	80	prongs	prong	NOUN
iiclr-27370	191	81	of	of	ADP
iiclr-27370	191	82	howey	howey	PRON
iiclr-27370	191	83	—	—	PUNCT
iiclr-27370	191	84	monetary	monetary	ADJ
iiclr-27370	191	85	investment	investment	NOUN
iiclr-27370	191	86	and	and	CCONJ
iiclr-27370	191	87	the	the	DET
iiclr-27370	191	88	reasonable	reasonable	ADJ
iiclr-27370	191	89	expectation	expectation	NOUN
iiclr-27370	191	90	of	of	ADP
iiclr-27370	191	91	profits	profit	NOUN
iiclr-27370	191	92	—	—	PUNCT
iiclr-27370	191	93	are	be	AUX
iiclr-27370	191	94	typically	typically	ADV
iiclr-27370	191	95	easily	easily	ADV
iiclr-27370	191	96	satisfied	satisfied	ADJ
iiclr-27370	191	97	;	;	PUNCT
iiclr-27370	191	98	however	however	ADV
iiclr-27370	191	99	,	,	PUNCT
iiclr-27370	191	100	the	the	DET
iiclr-27370	191	101	prongs	prong	NOUN
iiclr-27370	191	102	of	of	ADP
iiclr-27370	191	103	the	the	DET
iiclr-27370	191	104	test	test	NOUN
iiclr-27370	191	105	concerning	concern	VERB
iiclr-27370	191	106	67	67	NUM
iiclr-27370	191	107	.	.	PUNCT
iiclr-27370	192	1	i	i	PRON
iiclr-27370	192	2	d.	d.	PROPN
iiclr-27370	192	3	68	68	NUM
iiclr-27370	192	4	.	.	PUNCT
iiclr-27370	193	1	i	i	PRON
iiclr-27370	193	2	d.	d.	PROPN
iiclr-27370	193	3	69	69	NUM
iiclr-27370	193	4	.	.	PUNCT
iiclr-27370	194	1	i	i	PRON
iiclr-27370	194	2	d.	d.	PROPN
iiclr-27370	194	3	70	70	NUM
iiclr-27370	194	4	.	.	PUNCT
iiclr-27370	195	1	i	i	PRON
iiclr-27370	195	2	d.	d.	PROPN
iiclr-27370	195	3	71	71	NUM
iiclr-27370	195	4	.	.	PUNCT
iiclr-27370	196	1	i	i	PRON
iiclr-27370	196	2	d.	d.	PROPN
iiclr-27370	196	3	72	72	NUM
iiclr-27370	196	4	.	.	PUNCT
iiclr-27370	197	1	i	i	PRON
iiclr-27370	197	2	d.	d.	PROPN
iiclr-27370	197	3	73	73	NUM
iiclr-27370	197	4	.	.	PUNCT
iiclr-27370	198	1	i	i	PRON
iiclr-27370	198	2	d.	d.	PROPN
iiclr-27370	198	3	74	74	NUM
iiclr-27370	198	4	.	.	PUNCT
iiclr-27370	199	1	i	i	PRON
iiclr-27370	199	2	d.	d.	PROPN
iiclr-27370	199	3	75	75	NUM
iiclr-27370	199	4	.	.	PUNCT
iiclr-27370	200	1	see	see	VERB
iiclr-27370	200	2	i	i	PRON
iiclr-27370	200	3	d.	d.	PROPN
iiclr-27370	200	4	76	76	NUM
iiclr-27370	200	5	.	.	PUNCT
iiclr-27370	201	1	i	i	PRON
iiclr-27370	201	2	d.	d.	PROPN
iiclr-27370	201	3	77	77	NUM
iiclr-27370	201	4	.	.	PUNCT
iiclr-27370	202	1	song	song	PROPN
iiclr-27370	202	2	,	,	PUNCT
iiclr-27370	202	3	supra	supra	PROPN
iiclr-27370	202	4	note	note	PROPN
iiclr-27370	202	5	53	53	NUM
iiclr-27370	202	6	,	,	PUNCT
iiclr-27370	202	7	at	at	ADP
iiclr-27370	202	8	14	14	NUM
iiclr-27370	202	9	.	.	PUNCT
iiclr-27370	203	1	78	78	NUM
iiclr-27370	203	2	.	.	PUNCT
iiclr-27370	204	1	framework	framework	NOUN
iiclr-27370	204	2	for	for	ADP
iiclr-27370	204	3	“	"	PUNCT
iiclr-27370	204	4	investment	investment	NOUN
iiclr-27370	204	5	contract	contract	NOUN
iiclr-27370	204	6	”	"	PUNCT
iiclr-27370	204	7	analysis	analysis	NOUN
iiclr-27370	204	8	of	of	ADP
iiclr-27370	204	9	digital	digital	ADJ
iiclr-27370	204	10	assets	asset	NOUN
iiclr-27370	204	11	,	,	PUNCT
iiclr-27370	204	12	sec	sec	PROPN
iiclr-27370	204	13	,	,	PUNCT
iiclr-27370	204	14	(	(	PUNCT
iiclr-27370	204	15	apr	apr	NOUN
iiclr-27370	204	16	.	.	PROPN
iiclr-27370	204	17	3	3	NUM
iiclr-27370	204	18	,	,	PUNCT
iiclr-27370	204	19	2019	2019	NUM
iiclr-27370	204	20	)	)	PUNCT
iiclr-27370	204	21	,	,	PUNCT
iiclr-27370	204	22	https://www.sec.gov/corpfin/framework-investment-contract-analysis-digital-assets	https://www.sec.gov/corpfin/framework-investment-contract-analysis-digital-asset	VERB
iiclr-27370	204	23	[	[	X
iiclr-27370	204	24	https://perma.cc/eu8c-4zlt	https://perma.cc/eu8c-4zlt	X
iiclr-27370	204	25	]	]	X
iiclr-27370	204	26	.	.	PUNCT
iiclr-27370	205	1	2023	2023	NUM
iiclr-27370	205	2	]	]	PUNCT
iiclr-27370	205	3	the	the	DET
iiclr-27370	205	4	wild	wild	ADJ
iiclr-27370	205	5	west	west	NOUN
iiclr-27370	205	6	,	,	PUNCT
iiclr-27370	205	7	cryptocurrency	cryptocurrency	NOUN
iiclr-27370	205	8	,	,	PUNCT
iiclr-27370	205	9	and	and	CCONJ
iiclr-27370	205	10	singapore	singapore	PROPN
iiclr-27370	205	11	201	201	NUM
iiclr-27370	205	12	reasonable	reasonable	ADJ
iiclr-27370	205	13	expectations	expectation	NOUN
iiclr-27370	205	14	of	of	ADP
iiclr-27370	205	15	profits	profit	NOUN
iiclr-27370	205	16	derived	derive	VERB
iiclr-27370	205	17	from	from	ADP
iiclr-27370	205	18	the	the	DET
iiclr-27370	205	19	efforts	effort	NOUN
iiclr-27370	205	20	of	of	ADP
iiclr-27370	205	21	others	other	NOUN
iiclr-27370	205	22	tend	tend	VERB
iiclr-27370	205	23	to	to	PART
iiclr-27370	205	24	be	be	AUX
iiclr-27370	205	25	more	more	ADV
iiclr-27370	205	26	difficult	difficult	ADJ
iiclr-27370	205	27	to	to	PART
iiclr-27370	205	28	establish.79	establish.79	VERB
iiclr-27370	205	29	the	the	DET
iiclr-27370	205	30	guideline	guideline	NOUN
iiclr-27370	205	31	elaborates	elaborate	VERB
iiclr-27370	205	32	on	on	ADP
iiclr-27370	205	33	specific	specific	ADJ
iiclr-27370	205	34	features	feature	NOUN
iiclr-27370	205	35	that	that	PRON
iiclr-27370	205	36	may	may	AUX
iiclr-27370	205	37	be	be	AUX
iiclr-27370	205	38	found	find	VERB
iiclr-27370	205	39	in	in	ADP
iiclr-27370	205	40	a	a	DET
iiclr-27370	205	41	hypothetical	hypothetical	ADJ
iiclr-27370	205	42	ico	ico	NOUN
iiclr-27370	205	43	and	and	CCONJ
iiclr-27370	205	44	identifies	identify	VERB
iiclr-27370	205	45	features	feature	NOUN
iiclr-27370	205	46	that	that	PRON
iiclr-27370	205	47	are	be	AUX
iiclr-27370	205	48	likely	likely	ADJ
iiclr-27370	205	49	to	to	PART
iiclr-27370	205	50	classify	classify	VERB
iiclr-27370	205	51	an	an	DET
iiclr-27370	205	52	ico	ico	NOUN
iiclr-27370	205	53	as	as	ADP
iiclr-27370	205	54	an	an	DET
iiclr-27370	205	55	investment	investment	NOUN
iiclr-27370	205	56	contract	contract	NOUN
iiclr-27370	205	57	and	and	CCONJ
iiclr-27370	205	58	,	,	PUNCT
iiclr-27370	205	59	thus	thus	ADV
iiclr-27370	205	60	,	,	PUNCT
iiclr-27370	205	61	a	a	DET
iiclr-27370	205	62	security	security	NOUN
iiclr-27370	205	63	.	.	PUNCT
iiclr-27370	206	1	the	the	DET
iiclr-27370	206	2	sec	sec	PROPN
iiclr-27370	206	3	stated	state	VERB
iiclr-27370	206	4	that	that	SCONJ
iiclr-27370	206	5	two	two	NUM
iiclr-27370	206	6	specific	specific	ADJ
iiclr-27370	206	7	features	feature	NOUN
iiclr-27370	206	8	that	that	PRON
iiclr-27370	206	9	fail	fail	VERB
iiclr-27370	206	10	this	this	DET
iiclr-27370	206	11	test	test	NOUN
iiclr-27370	206	12	,	,	PUNCT
iiclr-27370	206	13	and	and	CCONJ
iiclr-27370	206	14	therefore	therefore	ADV
iiclr-27370	206	15	indicate	indicate	VERB
iiclr-27370	206	16	that	that	SCONJ
iiclr-27370	206	17	the	the	DET
iiclr-27370	206	18	sec	sec	PROPN
iiclr-27370	206	19	does	do	AUX
iiclr-27370	206	20	not	not	PART
iiclr-27370	206	21	possess	possess	VERB
iiclr-27370	206	22	regulatory	regulatory	ADJ
iiclr-27370	206	23	authority	authority	NOUN
iiclr-27370	206	24	,	,	PUNCT
iiclr-27370	206	25	are	be	AUX
iiclr-27370	206	26	a	a	DET
iiclr-27370	206	27	statement	statement	NOUN
iiclr-27370	206	28	that	that	SCONJ
iiclr-27370	206	29	“	"	PUNCT
iiclr-27370	206	30	distributed	distribute	VERB
iiclr-27370	206	31	ledger	ledger	NOUN
iiclr-27370	206	32	network	network	NOUN
iiclr-27370	206	33	and	and	CCONJ
iiclr-27370	206	34	digital	digital	ADJ
iiclr-27370	206	35	assets	asset	NOUN
iiclr-27370	206	36	are	be	AUX
iiclr-27370	206	37	fully	fully	ADV
iiclr-27370	206	38	developed	develop	VERB
iiclr-27370	206	39	and	and	CCONJ
iiclr-27370	206	40	operational	operational	ADJ
iiclr-27370	206	41	”	"	PUNCT
iiclr-27370	206	42	and	and	CCONJ
iiclr-27370	206	43	that	that	SCONJ
iiclr-27370	206	44	“	"	PUNCT
iiclr-27370	206	45	prospects	prospect	NOUN
iiclr-27370	206	46	for	for	ADP
iiclr-27370	206	47	appreciation	appreciation	NOUN
iiclr-27370	206	48	in	in	ADP
iiclr-27370	206	49	the	the	DET
iiclr-27370	206	50	value	value	NOUN
iiclr-27370	206	51	of	of	ADP
iiclr-27370	206	52	the	the	DET
iiclr-27370	206	53	digital	digital	ADJ
iiclr-27370	206	54	asset	asset	NOUN
iiclr-27370	206	55	are	be	AUX
iiclr-27370	206	56	limited	limited	ADJ
iiclr-27370	206	57	.	.	PUNCT
iiclr-27370	207	1	”80	”80	NOUN
iiclr-27370	207	2	in	in	ADP
iiclr-27370	207	3	applying	apply	VERB
iiclr-27370	207	4	the	the	DET
iiclr-27370	207	5	howey	howey	PROPN
iiclr-27370	207	6	requirements	requirement	NOUN
iiclr-27370	207	7	and	and	CCONJ
iiclr-27370	207	8	issuing	issue	VERB
iiclr-27370	207	9	these	these	DET
iiclr-27370	207	10	guidelines	guideline	NOUN
iiclr-27370	207	11	,	,	PUNCT
iiclr-27370	207	12	the	the	DET
iiclr-27370	207	13	sec	sec	PROPN
iiclr-27370	207	14	particularly	particularly	ADV
iiclr-27370	207	15	seeks	seek	VERB
iiclr-27370	207	16	to	to	PART
iiclr-27370	207	17	regulate	regulate	VERB
iiclr-27370	207	18	companies	company	NOUN
iiclr-27370	207	19	that	that	PRON
iiclr-27370	207	20	raise	raise	VERB
iiclr-27370	207	21	capital	capital	NOUN
iiclr-27370	207	22	through	through	ADP
iiclr-27370	207	23	icos	icos	PROPN
iiclr-27370	207	24	—	—	PUNCT
iiclr-27370	207	25	an	an	DET
iiclr-27370	207	26	understandable	understandable	ADJ
iiclr-27370	207	27	goal	goal	NOUN
iiclr-27370	207	28	given	give	VERB
iiclr-27370	207	29	the	the	DET
iiclr-27370	207	30	prevalence	prevalence	NOUN
iiclr-27370	207	31	of	of	ADP
iiclr-27370	207	32	fraudulent	fraudulent	ADJ
iiclr-27370	207	33	coin	coin	NOUN
iiclr-27370	207	34	offerings	offering	NOUN
iiclr-27370	207	35	within	within	ADP
iiclr-27370	207	36	the	the	DET
iiclr-27370	207	37	industry	industry	NOUN
iiclr-27370	207	38	.	.	PUNCT
iiclr-27370	208	1	however	however	ADV
iiclr-27370	208	2	,	,	PUNCT
iiclr-27370	208	3	in	in	ADP
iiclr-27370	208	4	effect	effect	NOUN
iiclr-27370	208	5	,	,	PUNCT
iiclr-27370	208	6	the	the	DET
iiclr-27370	208	7	application	application	NOUN
iiclr-27370	208	8	of	of	ADP
iiclr-27370	208	9	the	the	DET
iiclr-27370	208	10	howey	howey	PROPN
iiclr-27370	208	11	test	test	PROPN
iiclr-27370	208	12	to	to	ADP
iiclr-27370	208	13	icos	icos	PROPN
iiclr-27370	208	14	has	have	AUX
iiclr-27370	208	15	made	make	VERB
iiclr-27370	208	16	it	it	PRON
iiclr-27370	208	17	exceedingly	exceedingly	ADV
iiclr-27370	208	18	difficult	difficult	ADJ
iiclr-27370	208	19	for	for	SCONJ
iiclr-27370	208	20	legitimate	legitimate	ADJ
iiclr-27370	208	21	ico	ico	PROPN
iiclr-27370	208	22	firms	firm	NOUN
iiclr-27370	208	23	to	to	PART
iiclr-27370	208	24	raise	raise	VERB
iiclr-27370	208	25	funds	fund	NOUN
iiclr-27370	208	26	,	,	PUNCT
iiclr-27370	208	27	and	and	CCONJ
iiclr-27370	208	28	to	to	PART
iiclr-27370	208	29	make	make	VERB
iiclr-27370	208	30	matters	matter	NOUN
iiclr-27370	208	31	worse	bad	ADJ
iiclr-27370	208	32	,	,	PUNCT
iiclr-27370	208	33	the	the	DET
iiclr-27370	208	34	four	four	NUM
iiclr-27370	208	35	-	-	ADJ
iiclr-27370	208	36	pronged	pronged	ADJ
iiclr-27370	208	37	analysis	analysis	NOUN
iiclr-27370	208	38	of	of	ADP
iiclr-27370	208	39	howey	howey	PROPN
iiclr-27370	208	40	has	have	AUX
iiclr-27370	208	41	done	do	VERB
iiclr-27370	208	42	little	little	ADJ
iiclr-27370	208	43	to	to	PART
iiclr-27370	208	44	erase	erase	VERB
iiclr-27370	208	45	ambiguity	ambiguity	NOUN
iiclr-27370	208	46	,	,	PUNCT
iiclr-27370	208	47	as	as	SCONJ
iiclr-27370	208	48	it	it	PRON
iiclr-27370	208	49	remains	remain	VERB
iiclr-27370	208	50	difficult	difficult	ADJ
iiclr-27370	208	51	in	in	ADP
iiclr-27370	208	52	most	most	ADJ
iiclr-27370	208	53	instances	instance	NOUN
iiclr-27370	208	54	to	to	PART
iiclr-27370	208	55	determine	determine	VERB
iiclr-27370	208	56	whether	whether	SCONJ
iiclr-27370	208	57	cryptos	crypto	NOUN
iiclr-27370	208	58	satisfy	satisfy	VERB
iiclr-27370	208	59	all	all	DET
iiclr-27370	208	60	four	four	NUM
iiclr-27370	208	61	prongs.81	prongs.81	NOUN
iiclr-27370	208	62	these	these	DET
iiclr-27370	208	63	difficulties	difficulty	NOUN
iiclr-27370	208	64	imposed	impose	VERB
iiclr-27370	208	65	on	on	ADP
iiclr-27370	208	66	even	even	ADV
iiclr-27370	208	67	legitimate	legitimate	ADJ
iiclr-27370	208	68	ico	ico	PROPN
iiclr-27370	208	69	offerors	offeror	NOUN
iiclr-27370	208	70	have	have	AUX
iiclr-27370	208	71	led	lead	VERB
iiclr-27370	208	72	some	some	PRON
iiclr-27370	208	73	to	to	PART
iiclr-27370	208	74	seek	seek	VERB
iiclr-27370	208	75	loopholes	loophole	NOUN
iiclr-27370	208	76	when	when	SCONJ
iiclr-27370	208	77	attempting	attempt	VERB
iiclr-27370	208	78	to	to	PART
iiclr-27370	208	79	offer	offer	VERB
iiclr-27370	208	80	coins	coin	NOUN
iiclr-27370	208	81	to	to	ADP
iiclr-27370	208	82	the	the	DET
iiclr-27370	208	83	public	public	NOUN
iiclr-27370	208	84	.	.	PUNCT
iiclr-27370	209	1	many	many	ADJ
iiclr-27370	209	2	american	american	PROPN
iiclr-27370	209	3	ico	ico	PROPN
iiclr-27370	209	4	firms	firm	NOUN
iiclr-27370	209	5	have	have	AUX
iiclr-27370	209	6	attempted	attempt	VERB
iiclr-27370	209	7	to	to	PART
iiclr-27370	209	8	waive	waive	VERB
iiclr-27370	209	9	the	the	DET
iiclr-27370	209	10	requirements	requirement	NOUN
iiclr-27370	209	11	of	of	ADP
iiclr-27370	209	12	howey	howey	PROPN
iiclr-27370	209	13	by	by	ADP
iiclr-27370	209	14	using	use	VERB
iiclr-27370	209	15	a	a	DET
iiclr-27370	209	16	simple	simple	ADJ
iiclr-27370	209	17	agreement	agreement	NOUN
iiclr-27370	209	18	for	for	ADP
iiclr-27370	209	19	future	future	ADJ
iiclr-27370	209	20	tokens	token	NOUN
iiclr-27370	209	21	(	(	PUNCT
iiclr-27370	209	22	saft).82	saft).82	PROPN
iiclr-27370	209	23	safts	saft	NOUN
iiclr-27370	209	24	are	be	AUX
iiclr-27370	209	25	generally	generally	ADV
iiclr-27370	209	26	used	use	VERB
iiclr-27370	209	27	by	by	ADP
iiclr-27370	209	28	coin	coin	NOUN
iiclr-27370	209	29	offerors	offeror	NOUN
iiclr-27370	209	30	when	when	SCONJ
iiclr-27370	209	31	it	it	PRON
iiclr-27370	209	32	is	be	AUX
iiclr-27370	209	33	“	"	PUNCT
iiclr-27370	209	34	very	very	ADV
iiclr-27370	209	35	likely	likely	ADJ
iiclr-27370	209	36	”	"	PUNCT
iiclr-27370	209	37	that	that	PRON
iiclr-27370	209	38	an	an	DET
iiclr-27370	209	39	ico	ico	PROPN
iiclr-27370	209	40	will	will	AUX
iiclr-27370	209	41	offer	offer	VERB
iiclr-27370	209	42	coins	coin	NOUN
iiclr-27370	209	43	that	that	PRON
iiclr-27370	209	44	will	will	AUX
iiclr-27370	209	45	be	be	AUX
iiclr-27370	209	46	regarded	regard	VERB
iiclr-27370	209	47	as	as	ADP
iiclr-27370	209	48	an	an	DET
iiclr-27370	209	49	investment	investment	NOUN
iiclr-27370	209	50	contract	contract	NOUN
iiclr-27370	209	51	under	under	ADP
iiclr-27370	209	52	the	the	DET
iiclr-27370	209	53	securities	security	NOUN
iiclr-27370	209	54	act.83	act.83	PROPN
iiclr-27370	209	55	when	when	SCONJ
iiclr-27370	209	56	a	a	DET
iiclr-27370	209	57	saft	saft	NOUN
iiclr-27370	209	58	is	be	AUX
iiclr-27370	209	59	in	in	ADP
iiclr-27370	209	60	place	place	NOUN
iiclr-27370	209	61	,	,	PUNCT
iiclr-27370	209	62	ico	ico	PROPN
iiclr-27370	209	63	firms	firm	NOUN
iiclr-27370	209	64	rely	rely	VERB
iiclr-27370	209	65	on	on	ADP
iiclr-27370	209	66	rule	rule	NOUN
iiclr-27370	209	67	506(c	506(c	PROPN
iiclr-27370	209	68	)	)	PUNCT
iiclr-27370	209	69	of	of	ADP
iiclr-27370	209	70	regulation	regulation	NOUN
iiclr-27370	209	71	d	d	NOUN
iiclr-27370	209	72	under	under	ADP
iiclr-27370	209	73	the	the	DET
iiclr-27370	209	74	securities	security	NOUN
iiclr-27370	209	75	act	act	PROPN
iiclr-27370	209	76	,	,	PUNCT
iiclr-27370	209	77	allowing	allow	VERB
iiclr-27370	209	78	them	they	PRON
iiclr-27370	209	79	to	to	PART
iiclr-27370	209	80	raise	raise	VERB
iiclr-27370	209	81	funds	fund	NOUN
iiclr-27370	209	82	without	without	ADP
iiclr-27370	209	83	having	have	VERB
iiclr-27370	209	84	to	to	PART
iiclr-27370	209	85	comply	comply	VERB
iiclr-27370	209	86	with	with	ADP
iiclr-27370	209	87	the	the	DET
iiclr-27370	209	88	regulatory	regulatory	ADJ
iiclr-27370	209	89	measures	measure	NOUN
iiclr-27370	209	90	that	that	PRON
iiclr-27370	209	91	howey	howey	PRON
iiclr-27370	209	92	would	would	AUX
iiclr-27370	209	93	otherwise	otherwise	ADV
iiclr-27370	209	94	impose	impose	VERB
iiclr-27370	209	95	on	on	ADP
iiclr-27370	209	96	a	a	DET
iiclr-27370	209	97	security	security	NOUN
iiclr-27370	209	98	by	by	ADP
iiclr-27370	209	99	offering	offer	VERB
iiclr-27370	209	100	their	their	PRON
iiclr-27370	209	101	coin	coin	NOUN
iiclr-27370	209	102	only	only	ADV
iiclr-27370	209	103	to	to	PART
iiclr-27370	209	104	accredited	accredit	VERB
iiclr-27370	209	105	investors.84	investors.84	PROPN
iiclr-27370	209	106	in	in	ADP
iiclr-27370	209	107	turn	turn	NOUN
iiclr-27370	209	108	,	,	PUNCT
iiclr-27370	209	109	the	the	DET
iiclr-27370	209	110	idea	idea	NOUN
iiclr-27370	209	111	is	be	AUX
iiclr-27370	209	112	that	that	SCONJ
iiclr-27370	209	113	these	these	DET
iiclr-27370	209	114	accredited	accredit	VERB
iiclr-27370	209	115	investors	investor	NOUN
iiclr-27370	209	116	would	would	AUX
iiclr-27370	209	117	sell	sell	VERB
iiclr-27370	209	118	those	those	DET
iiclr-27370	209	119	tokens	token	NOUN
iiclr-27370	209	120	to	to	ADP
iiclr-27370	209	121	the	the	DET
iiclr-27370	209	122	general	general	ADJ
iiclr-27370	209	123	public.85	public.85	PROPN
iiclr-27370	209	124	the	the	DET
iiclr-27370	209	125	general	general	ADJ
iiclr-27370	209	126	idea	idea	NOUN
iiclr-27370	209	127	of	of	ADP
iiclr-27370	209	128	this	this	DET
iiclr-27370	209	129	workaround	workaround	NOUN
iiclr-27370	209	130	was	be	AUX
iiclr-27370	209	131	that	that	SCONJ
iiclr-27370	209	132	by	by	ADP
iiclr-27370	209	133	using	use	VERB
iiclr-27370	209	134	a	a	DET
iiclr-27370	209	135	saft	saft	NOUN
iiclr-27370	209	136	,	,	PUNCT
iiclr-27370	209	137	coin	coin	NOUN
iiclr-27370	209	138	offerors	offeror	NOUN
iiclr-27370	209	139	can	can	AUX
iiclr-27370	209	140	skirt	skirt	VERB
iiclr-27370	209	141	howey	howey	PROPN
iiclr-27370	209	142	requirements	requirement	NOUN
iiclr-27370	209	143	while	while	SCONJ
iiclr-27370	209	144	still	still	ADV
iiclr-27370	209	145	achieving	achieve	VERB
iiclr-27370	209	146	the	the	DET
iiclr-27370	209	147	same	same	ADJ
iiclr-27370	209	148	,	,	PUNCT
iiclr-27370	209	149	or	or	CCONJ
iiclr-27370	209	150	similar	similar	ADJ
iiclr-27370	209	151	,	,	PUNCT
iiclr-27370	209	152	ends	end	VERB
iiclr-27370	209	153	as	as	ADP
iiclr-27370	209	154	a	a	DET
iiclr-27370	209	155	true	true	ADJ
iiclr-27370	209	156	public	public	ADJ
iiclr-27370	209	157	offering	offering	NOUN
iiclr-27370	209	158	.	.	PUNCT
iiclr-27370	210	1	while	while	SCONJ
iiclr-27370	210	2	this	this	DET
iiclr-27370	210	3	saft	saft	NOUN
iiclr-27370	210	4	model	model	NOUN
iiclr-27370	210	5	does	do	AUX
iiclr-27370	210	6	offer	offer	VERB
iiclr-27370	210	7	benefits	benefit	NOUN
iiclr-27370	210	8	to	to	ADP
iiclr-27370	210	9	public	public	ADJ
iiclr-27370	210	10	investors	investor	NOUN
iiclr-27370	210	11	,	,	PUNCT
iiclr-27370	210	12	such	such	ADJ
iiclr-27370	210	13	as	as	ADP
iiclr-27370	210	14	reducing	reduce	VERB
iiclr-27370	210	15	the	the	DET
iiclr-27370	210	16	risk	risk	NOUN
iiclr-27370	210	17	of	of	ADP
iiclr-27370	210	18	a	a	DET
iiclr-27370	210	19	project	project	NOUN
iiclr-27370	210	20	defaulting	default	VERB
iiclr-27370	210	21	and	and	CCONJ
iiclr-27370	210	22	maintaining	maintain	VERB
iiclr-27370	210	23	the	the	DET
iiclr-27370	210	24	benefits	benefit	NOUN
iiclr-27370	210	25	of	of	ADP
iiclr-27370	210	26	investor	investor	NOUN
iiclr-27370	210	27	protections	protection	NOUN
iiclr-27370	210	28	,	,	PUNCT
iiclr-27370	210	29	courts	court	NOUN
iiclr-27370	210	30	have	have	AUX
iiclr-27370	210	31	scoffed	scoff	VERB
iiclr-27370	210	32	at	at	ADP
iiclr-27370	210	33	the	the	DET
iiclr-27370	210	34	fact	fact	NOUN
iiclr-27370	210	35	that	that	SCONJ
iiclr-27370	210	36	it	it	PRON
iiclr-27370	210	37	allows	allow	VERB
iiclr-27370	210	38	ico	ico	PROPN
iiclr-27370	210	39	firms	firm	NOUN
iiclr-27370	210	40	to	to	PART
iiclr-27370	210	41	skirt	skirt	VERB
iiclr-27370	210	42	regulation.86	regulation.86	NOUN
iiclr-27370	210	43	consequently	consequently	ADV
iiclr-27370	210	44	,	,	PUNCT
iiclr-27370	210	45	many	many	ADJ
iiclr-27370	210	46	courts	court	NOUN
iiclr-27370	210	47	in	in	ADP
iiclr-27370	210	48	the	the	DET
iiclr-27370	210	49	united	united	PROPN
iiclr-27370	210	50	states	states	PROPN
iiclr-27370	210	51	have	have	AUX
iiclr-27370	210	52	ruled	rule	VERB
iiclr-27370	210	53	that	that	SCONJ
iiclr-27370	210	54	if	if	SCONJ
iiclr-27370	210	55	the	the	DET
iiclr-27370	210	56	79	79	NUM
iiclr-27370	210	57	.	.	PUNCT
iiclr-27370	211	1	i	i	PRON
iiclr-27370	211	2	d.	d.	PROPN
iiclr-27370	211	3	80	80	NUM
iiclr-27370	211	4	.	.	PUNCT
iiclr-27370	212	1	i	i	PRON
iiclr-27370	212	2	d.	d.	PROPN
iiclr-27370	212	3	81	81	NUM
iiclr-27370	212	4	.	.	PUNCT
iiclr-27370	213	1	see	see	VERB
iiclr-27370	213	2	song	song	NOUN
iiclr-27370	213	3	,	,	PUNCT
iiclr-27370	213	4	supra	supra	PROPN
iiclr-27370	213	5	note	note	PROPN
iiclr-27370	213	6	53	53	NUM
iiclr-27370	213	7	,	,	PUNCT
iiclr-27370	213	8	at	at	ADP
iiclr-27370	213	9	14	14	NUM
iiclr-27370	213	10	.	.	PUNCT
iiclr-27370	214	1	82	82	NUM
iiclr-27370	214	2	.	.	PUNCT
iiclr-27370	215	1	i	i	PRON
iiclr-27370	215	2	d.	d.	PROPN
iiclr-27370	215	3	83	83	NUM
iiclr-27370	215	4	.	.	PUNCT
iiclr-27370	216	1	i	i	PRON
iiclr-27370	216	2	d.	d.	PROPN
iiclr-27370	216	3	84	84	NUM
iiclr-27370	216	4	.	.	PUNCT
iiclr-27370	217	1	juan	juan	PROPN
iiclr-27370	217	2	batiz	batiz	PROPN
iiclr-27370	217	3	-	-	PUNCT
iiclr-27370	217	4	benet	benet	PROPN
iiclr-27370	217	5	,	,	PUNCT
iiclr-27370	217	6	jesse	jesse	PROPN
iiclr-27370	217	7	clayburgh	clayburgh	PROPN
iiclr-27370	217	8	,	,	PUNCT
iiclr-27370	217	9	&	&	CCONJ
iiclr-27370	217	10	marco	marco	PROPN
iiclr-27370	217	11	santori	santori	PROPN
iiclr-27370	217	12	,	,	PUNCT
iiclr-27370	217	13	the	the	DET
iiclr-27370	217	14	saft	saft	PROPN
iiclr-27370	217	15	project	project	NOUN
iiclr-27370	217	16	:	:	PUNCT
iiclr-27370	217	17	toward	toward	ADP
iiclr-27370	217	18	a	a	DET
iiclr-27370	217	19	compliant	compliant	ADJ
iiclr-27370	217	20	token	token	VERB
iiclr-27370	217	21	sale	sale	NOUN
iiclr-27370	217	22	framework	framework	NOUN
iiclr-27370	217	23	,	,	PUNCT
iiclr-27370	217	24	cooley	cooley	PROPN
iiclr-27370	217	25	1	1	NUM
iiclr-27370	217	26	(	(	PUNCT
iiclr-27370	217	27	oct	oct	PROPN
iiclr-27370	217	28	.	.	PROPN
iiclr-27370	217	29	2	2	NUM
iiclr-27370	217	30	,	,	PUNCT
iiclr-27370	217	31	2017	2017	NUM
iiclr-27370	217	32	)	)	PUNCT
iiclr-27370	217	33	,	,	PUNCT
iiclr-27370	217	34	https://www.cooley.com/-/media/	https://www.cooley.com/-/media/	NOUN
iiclr-27370	217	35	cooley	cooley	NOUN
iiclr-27370	217	36	/	/	SYM
iiclr-27370	217	37	pdf	pdf	NOUN
iiclr-27370	217	38	/	/	SYM
iiclr-27370	217	39	reprints	reprint	NOUN
iiclr-27370	217	40	/	/	SYM
iiclr-27370	217	41	saft	saft	NOUN
iiclr-27370	217	42	-	-	PUNCT
iiclr-27370	217	43	project	project	NOUN
iiclr-27370	217	44	-	-	PUNCT
iiclr-27370	217	45	whitepaper.ashx	whitepaper.ashx	PROPN
iiclr-27370	217	46	[	[	X
iiclr-27370	217	47	https://perma.cc/sn3x-8bz7	https://perma.cc/sn3x-8bz7	X
iiclr-27370	217	48	]	]	PUNCT
iiclr-27370	217	49	;	;	PUNCT
iiclr-27370	217	50	rule	rule	VERB
iiclr-27370	217	51	506	506	NUM
iiclr-27370	217	52	of	of	ADP
iiclr-27370	217	53	regulation	regulation	NOUN
iiclr-27370	217	54	d	d	PROPN
iiclr-27370	217	55	,	,	PUNCT
iiclr-27370	217	56	sec	sec	PROPN
iiclr-27370	217	57	,	,	PUNCT
iiclr-27370	217	58	https://www.investor.gov/introduction-investing/investing-basics/glossary/rule506-regulation-d	https://www.investor.gov/introduction-investing/investing-basics/glossary/rule506-regulation-d	PROPN
iiclr-27370	218	1	[	[	X
iiclr-27370	218	2	https://perma.cc/2uar-s3cy	https://perma.cc/2uar-s3cy	NOUN
iiclr-27370	218	3	]	]	X
iiclr-27370	218	4	.	.	PUNCT
iiclr-27370	219	1	85	85	NUM
iiclr-27370	219	2	.	.	PUNCT
iiclr-27370	220	1	song	song	NOUN
iiclr-27370	220	2	,	,	PUNCT
iiclr-27370	220	3	supra	supra	PROPN
iiclr-27370	220	4	note	note	PROPN
iiclr-27370	220	5	53	53	NUM
iiclr-27370	220	6	,	,	PUNCT
iiclr-27370	220	7	at	at	ADP
iiclr-27370	220	8	15	15	NUM
iiclr-27370	220	9	.	.	PUNCT
iiclr-27370	220	10	86	86	NUM
iiclr-27370	220	11	.	.	PUNCT
iiclr-27370	221	1	i	i	PRON
iiclr-27370	221	2	d.	d.	PROPN
iiclr-27370	221	3	202	202	NUM
iiclr-27370	221	4	indiana	indiana	PROPN
iiclr-27370	221	5	int’l	int’l	NOUN
iiclr-27370	221	6	&	&	CCONJ
iiclr-27370	221	7	comp	comp	PROPN
iiclr-27370	221	8	.	.	PUNCT
iiclr-27370	222	1	law	law	NOUN
iiclr-27370	222	2	review	review	NOUN
iiclr-27370	222	3	[	[	X
iiclr-27370	222	4	vol	vol	NOUN
iiclr-27370	222	5	.	.	PUNCT
iiclr-27370	222	6	33:191	33:191	NUM
iiclr-27370	222	7	initial	initial	ADJ
iiclr-27370	222	8	purpose	purpose	NOUN
iiclr-27370	222	9	of	of	ADP
iiclr-27370	222	10	an	an	DET
iiclr-27370	222	11	ico	ico	PROPN
iiclr-27370	222	12	was	be	AUX
iiclr-27370	222	13	to	to	PART
iiclr-27370	222	14	distribute	distribute	VERB
iiclr-27370	222	15	tokens	token	NOUN
iiclr-27370	222	16	,	,	PUNCT
iiclr-27370	222	17	then	then	ADV
iiclr-27370	222	18	the	the	DET
iiclr-27370	222	19	subsequent	subsequent	ADJ
iiclr-27370	222	20	sale	sale	NOUN
iiclr-27370	222	21	of	of	ADP
iiclr-27370	222	22	these	these	DET
iiclr-27370	222	23	tokens	token	NOUN
iiclr-27370	222	24	can	can	AUX
iiclr-27370	222	25	not	not	PART
iiclr-27370	222	26	be	be	AUX
iiclr-27370	222	27	exempted	exempt	VERB
iiclr-27370	222	28	from	from	ADP
iiclr-27370	222	29	securities	security	NOUN
iiclr-27370	222	30	regulations.87	regulations.87	NOUN
iiclr-27370	222	31	reasoning	reason	VERB
iiclr-27370	222	32	that	that	SCONJ
iiclr-27370	222	33	the	the	DET
iiclr-27370	222	34	economic	economic	ADJ
iiclr-27370	222	35	reality	reality	NOUN
iiclr-27370	222	36	of	of	ADP
iiclr-27370	222	37	an	an	DET
iiclr-27370	222	38	ico	ico	NOUN
iiclr-27370	222	39	is	be	AUX
iiclr-27370	222	40	important	important	ADJ
iiclr-27370	222	41	even	even	ADV
iiclr-27370	222	42	though	though	SCONJ
iiclr-27370	222	43	the	the	DET
iiclr-27370	222	44	initial	initial	ADJ
iiclr-27370	222	45	sales	sale	NOUN
iiclr-27370	222	46	of	of	ADP
iiclr-27370	222	47	the	the	DET
iiclr-27370	222	48	coin	coin	NOUN
iiclr-27370	222	49	were	be	AUX
iiclr-27370	222	50	made	make	VERB
iiclr-27370	222	51	to	to	ADP
iiclr-27370	222	52	sophisticated	sophisticated	ADJ
iiclr-27370	222	53	investors	investor	NOUN
iiclr-27370	222	54	,	,	PUNCT
iiclr-27370	222	55	courts	court	NOUN
iiclr-27370	222	56	have	have	AUX
iiclr-27370	222	57	prevented	prevent	VERB
iiclr-27370	222	58	coin	coin	NOUN
iiclr-27370	222	59	offerors	offeror	NOUN
iiclr-27370	222	60	from	from	ADP
iiclr-27370	222	61	using	use	VERB
iiclr-27370	222	62	safts	saft	NOUN
iiclr-27370	222	63	to	to	PART
iiclr-27370	222	64	avoid	avoid	VERB
iiclr-27370	222	65	howey	howey	PROPN
iiclr-27370	222	66	regulation.88	regulation.88	PROPN
iiclr-27370	222	67	b.	b.	PROPN
iiclr-27370	222	68	the	the	DET
iiclr-27370	222	69	fincen	fincen	NOUN
iiclr-27370	222	70	the	the	DET
iiclr-27370	222	71	fincen	fincen	PROPN
iiclr-27370	222	72	defines	define	VERB
iiclr-27370	222	73	money	money	NOUN
iiclr-27370	222	74	transmission	transmission	NOUN
iiclr-27370	222	75	services	service	NOUN
iiclr-27370	222	76	as	as	ADP
iiclr-27370	222	77	“	"	PUNCT
iiclr-27370	222	78	acceptance	acceptance	NOUN
iiclr-27370	222	79	of	of	ADP
iiclr-27370	222	80	currency	currency	NOUN
iiclr-27370	222	81	,	,	PUNCT
iiclr-27370	222	82	funds	fund	NOUN
iiclr-27370	222	83	,	,	PUNCT
iiclr-27370	222	84	or	or	CCONJ
iiclr-27370	222	85	other	other	ADJ
iiclr-27370	222	86	value	value	NOUN
iiclr-27370	222	87	that	that	PRON
iiclr-27370	222	88	substitutes	substitute	VERB
iiclr-27370	222	89	for	for	ADP
iiclr-27370	222	90	currency	currency	NOUN
iiclr-27370	222	91	from	from	ADP
iiclr-27370	222	92	one	one	NUM
iiclr-27370	222	93	person	person	NOUN
iiclr-27370	222	94	and	and	CCONJ
iiclr-27370	222	95	the	the	DET
iiclr-27370	222	96	transmission	transmission	NOUN
iiclr-27370	222	97	of	of	ADP
iiclr-27370	222	98	currency	currency	NOUN
iiclr-27370	222	99	,	,	PUNCT
iiclr-27370	222	100	funds	fund	NOUN
iiclr-27370	222	101	or	or	CCONJ
iiclr-27370	222	102	other	other	ADJ
iiclr-27370	222	103	value	value	NOUN
iiclr-27370	222	104	that	that	PRON
iiclr-27370	222	105	substitutes	substitute	VERB
iiclr-27370	222	106	currency	currency	NOUN
iiclr-27370	222	107	to	to	ADP
iiclr-27370	222	108	another	another	DET
iiclr-27370	222	109	location	location	NOUN
iiclr-27370	222	110	or	or	CCONJ
iiclr-27370	222	111	person	person	NOUN
iiclr-27370	222	112	by	by	ADP
iiclr-27370	222	113	any	any	DET
iiclr-27370	222	114	means	mean	NOUN
iiclr-27370	222	115	.	.	PUNCT
iiclr-27370	223	1	”89	”89	PROPN
iiclr-27370	224	1	this	this	DET
iiclr-27370	224	2	definition	definition	NOUN
iiclr-27370	224	3	implicates	implicate	VERB
iiclr-27370	224	4	individuals	individual	NOUN
iiclr-27370	224	5	,	,	PUNCT
iiclr-27370	224	6	businesses	business	NOUN
iiclr-27370	224	7	,	,	PUNCT
iiclr-27370	224	8	and	and	CCONJ
iiclr-27370	224	9	exchanges	exchange	NOUN
iiclr-27370	224	10	who	who	PRON
iiclr-27370	224	11	create	create	VERB
iiclr-27370	224	12	,	,	PUNCT
iiclr-27370	224	13	accept	accept	VERB
iiclr-27370	224	14	,	,	PUNCT
iiclr-27370	224	15	distribute	distribute	VERB
iiclr-27370	224	16	,	,	PUNCT
iiclr-27370	224	17	exchange	exchange	NOUN
iiclr-27370	224	18	,	,	PUNCT
iiclr-27370	224	19	or	or	CCONJ
iiclr-27370	224	20	transmit	transmit	VERB
iiclr-27370	224	21	virtual	virtual	ADJ
iiclr-27370	224	22	currencies.90	currencies.90	PROPN
iiclr-27370	224	23	fincen	fincen	PROPN
iiclr-27370	224	24	requirements	requirement	NOUN
iiclr-27370	224	25	obligate	obligate	VERB
iiclr-27370	224	26	exchanges	exchange	NOUN
iiclr-27370	224	27	to	to	PART
iiclr-27370	224	28	report	report	VERB
iiclr-27370	224	29	pertinent	pertinent	ADJ
iiclr-27370	224	30	information	information	NOUN
iiclr-27370	224	31	regarding	regard	VERB
iiclr-27370	224	32	any	any	DET
iiclr-27370	224	33	suspicious	suspicious	ADJ
iiclr-27370	224	34	activities	activity	NOUN
iiclr-27370	224	35	to	to	ADP
iiclr-27370	224	36	the	the	DET
iiclr-27370	224	37	fincen	fincen	NOUN
iiclr-27370	224	38	and	and	CCONJ
iiclr-27370	224	39	to	to	PART
iiclr-27370	224	40	obtain	obtain	VERB
iiclr-27370	224	41	both	both	CCONJ
iiclr-27370	224	42	fincen	fincen	ADJ
iiclr-27370	224	43	and	and	CCONJ
iiclr-27370	224	44	state	state	NOUN
iiclr-27370	224	45	licensing.91	licensing.91	NOUN
iiclr-27370	224	46	further	far	ADV
iiclr-27370	224	47	,	,	PUNCT
iiclr-27370	224	48	cryptocurrency	cryptocurrency	NOUN
iiclr-27370	224	49	exchanges	exchange	NOUN
iiclr-27370	224	50	,	,	PUNCT
iiclr-27370	224	51	in	in	ADP
iiclr-27370	224	52	particular	particular	ADJ
iiclr-27370	224	53	,	,	PUNCT
iiclr-27370	224	54	are	be	AUX
iiclr-27370	224	55	required	require	VERB
iiclr-27370	224	56	to	to	PART
iiclr-27370	224	57	provide	provide	VERB
iiclr-27370	224	58	documentation	documentation	NOUN
iiclr-27370	224	59	of	of	ADP
iiclr-27370	224	60	any	any	DET
iiclr-27370	224	61	transaction	transaction	NOUN
iiclr-27370	224	62	involving	involve	VERB
iiclr-27370	224	63	a	a	DET
iiclr-27370	224	64	monetary	monetary	ADJ
iiclr-27370	224	65	amount	amount	NOUN
iiclr-27370	224	66	greater	great	ADJ
iiclr-27370	224	67	than	than	ADP
iiclr-27370	224	68	$	$	SYM
iiclr-27370	224	69	10,000	10,000	NUM
iiclr-27370	224	70	in	in	ADP
iiclr-27370	224	71	cash	cash	NOUN
iiclr-27370	224	72	from	from	ADP
iiclr-27370	224	73	a	a	DET
iiclr-27370	224	74	single	single	ADJ
iiclr-27370	224	75	buyer.92	buyer.92	NOUN
iiclr-27370	224	76	in	in	ADP
iiclr-27370	224	77	imposing	impose	VERB
iiclr-27370	224	78	this	this	DET
iiclr-27370	224	79	requirement	requirement	NOUN
iiclr-27370	224	80	,	,	PUNCT
iiclr-27370	224	81	the	the	DET
iiclr-27370	224	82	fincen	fincen	NOUN
iiclr-27370	224	83	seeks	seek	VERB
iiclr-27370	224	84	to	to	PART
iiclr-27370	224	85	provide	provide	VERB
iiclr-27370	224	86	law	law	NOUN
iiclr-27370	224	87	enforcement	enforcement	NOUN
iiclr-27370	224	88	with	with	ADP
iiclr-27370	224	89	information	information	NOUN
iiclr-27370	224	90	regarding	regard	VERB
iiclr-27370	224	91	suspicious	suspicious	ADJ
iiclr-27370	224	92	activities.93	activities.93	NOUN
iiclr-27370	224	93	in	in	ADP
iiclr-27370	224	94	2013	2013	NUM
iiclr-27370	224	95	,	,	PUNCT
iiclr-27370	224	96	the	the	DET
iiclr-27370	224	97	fincen	fincen	NOUN
iiclr-27370	224	98	broadened	broaden	VERB
iiclr-27370	224	99	the	the	DET
iiclr-27370	224	100	applicability	applicability	NOUN
iiclr-27370	224	101	of	of	ADP
iiclr-27370	224	102	the	the	DET
iiclr-27370	224	103	bank	bank	PROPN
iiclr-27370	224	104	secrecy	secrecy	PROPN
iiclr-27370	224	105	act	act	PROPN
iiclr-27370	224	106	(	(	PUNCT
iiclr-27370	224	107	bsa	bsa	PROPN
iiclr-27370	224	108	)	)	PUNCT
iiclr-27370	224	109	to	to	PART
iiclr-27370	224	110	include	include	VERB
iiclr-27370	224	111	virtual	virtual	ADJ
iiclr-27370	224	112	transactions	transaction	NOUN
iiclr-27370	224	113	,	,	PUNCT
iiclr-27370	224	114	thus	thus	ADV
iiclr-27370	224	115	subjecting	subject	VERB
iiclr-27370	224	116	cryptocurrency	cryptocurrency	NOUN
iiclr-27370	224	117	exchanges	exchange	NOUN
iiclr-27370	224	118	to	to	ADP
iiclr-27370	224	119	the	the	DET
iiclr-27370	224	120	regulatory	regulatory	ADJ
iiclr-27370	224	121	scope	scope	NOUN
iiclr-27370	224	122	of	of	ADP
iiclr-27370	224	123	the	the	DET
iiclr-27370	224	124	bsa.94	bsa.94	NOUN
iiclr-27370	224	125	the	the	DET
iiclr-27370	224	126	provisions	provision	NOUN
iiclr-27370	224	127	of	of	ADP
iiclr-27370	224	128	the	the	DET
iiclr-27370	224	129	bsa	bsa	NOUN
iiclr-27370	224	130	,	,	PUNCT
iiclr-27370	224	131	as	as	SCONJ
iiclr-27370	224	132	applied	apply	VERB
iiclr-27370	224	133	to	to	ADP
iiclr-27370	224	134	cryptocurrency	cryptocurrency	NOUN
iiclr-27370	224	135	,	,	PUNCT
iiclr-27370	224	136	aim	aim	VERB
iiclr-27370	224	137	to	to	PART
iiclr-27370	224	138	identify	identify	VERB
iiclr-27370	224	139	and	and	CCONJ
iiclr-27370	224	140	deter	deter	VERB
iiclr-27370	224	141	the	the	DET
iiclr-27370	224	142	use	use	NOUN
iiclr-27370	224	143	of	of	ADP
iiclr-27370	224	144	cryptocurrency	cryptocurrency	NOUN
iiclr-27370	224	145	in	in	ADP
iiclr-27370	224	146	the	the	DET
iiclr-27370	224	147	context	context	NOUN
iiclr-27370	224	148	of	of	ADP
iiclr-27370	224	149	criminal	criminal	ADJ
iiclr-27370	224	150	enterprise.95	enterprise.95	NOUN
iiclr-27370	224	151	to	to	PART
iiclr-27370	224	152	comply	comply	VERB
iiclr-27370	224	153	with	with	ADP
iiclr-27370	224	154	the	the	DET
iiclr-27370	224	155	bsa	bsa	NOUN
iiclr-27370	224	156	,	,	PUNCT
iiclr-27370	224	157	crypto	crypto	NOUN
iiclr-27370	224	158	exchanges	exchange	NOUN
iiclr-27370	224	159	are	be	AUX
iiclr-27370	224	160	required	require	VERB
iiclr-27370	224	161	87	87	NUM
iiclr-27370	224	162	.	.	PUNCT
iiclr-27370	225	1	i	i	PRON
iiclr-27370	225	2	d.	d.	PROPN
iiclr-27370	225	3	88	88	NUM
iiclr-27370	225	4	.	.	PUNCT
iiclr-27370	226	1	sec	sec	PROPN
iiclr-27370	226	2	v.	v.	PROPN
iiclr-27370	226	3	telegram	telegram	PROPN
iiclr-27370	226	4	grp	grp	PROPN
iiclr-27370	226	5	.	.	PROPN
iiclr-27370	226	6	inc	inc	PROPN
iiclr-27370	226	7	,	,	PUNCT
iiclr-27370	226	8	448	448	NUM
iiclr-27370	226	9	f.	f.	PROPN
iiclr-27370	226	10	supp	supp	PROPN
iiclr-27370	226	11	.	.	PUNCT
iiclr-27370	227	1	3d	3d	NOUN
iiclr-27370	227	2	352	352	NUM
iiclr-27370	227	3	(	(	PUNCT
iiclr-27370	227	4	s.d.n.y	s.d.n.y	PROPN
iiclr-27370	227	5	.	.	PROPN
iiclr-27370	227	6	2020	2020	NUM
iiclr-27370	227	7	)	)	PUNCT
iiclr-27370	227	8	;	;	PUNCT
iiclr-27370	227	9	song	song	NOUN
iiclr-27370	227	10	,	,	PUNCT
iiclr-27370	227	11	supra	supra	PROPN
iiclr-27370	227	12	note	note	PROPN
iiclr-27370	227	13	53	53	NUM
iiclr-27370	227	14	,	,	PUNCT
iiclr-27370	227	15	at	at	ADP
iiclr-27370	227	16	14	14	NUM
iiclr-27370	227	17	;	;	PUNCT
iiclr-27370	227	18	jay	jay	PROPN
iiclr-27370	227	19	b.	b.	PROPN
iiclr-27370	227	20	sykes	sykes	PROPN
iiclr-27370	227	21	,	,	PUNCT
iiclr-27370	227	22	cong	cong	PROPN
iiclr-27370	227	23	.	.	PUNCT
iiclr-27370	228	1	rsch	rsch	PROPN
iiclr-27370	228	2	.	.	PUNCT
iiclr-27370	229	1	serv	serv	PROPN
iiclr-27370	229	2	.	.	PROPN
iiclr-27370	229	3	,	,	PUNCT
iiclr-27370	229	4	r45301	r45301	PROPN
iiclr-27370	229	5	,	,	PUNCT
iiclr-27370	229	6	securities	security	NOUN
iiclr-27370	229	7	regulation	regulation	NOUN
iiclr-27370	229	8	and	and	CCONJ
iiclr-27370	229	9	initial	initial	ADJ
iiclr-27370	229	10	coin	coin	NOUN
iiclr-27370	229	11	offerings	offering	NOUN
iiclr-27370	229	12	:	:	PUNCT
iiclr-27370	229	13	a	a	DET
iiclr-27370	229	14	legal	legal	ADJ
iiclr-27370	229	15	primer	primer	NOUN
iiclr-27370	229	16	2	2	NUM
iiclr-27370	229	17	(	(	PUNCT
iiclr-27370	229	18	2018	2018	NUM
iiclr-27370	229	19	)	)	PUNCT
iiclr-27370	229	20	(	(	PUNCT
iiclr-27370	229	21	asserting	assert	VERB
iiclr-27370	229	22	that	that	SCONJ
iiclr-27370	229	23	when	when	SCONJ
iiclr-27370	229	24	applying	apply	VERB
iiclr-27370	229	25	howey	howey	PRON
iiclr-27370	229	26	,	,	PUNCT
iiclr-27370	229	27	courts	court	NOUN
iiclr-27370	229	28	have	have	AUX
iiclr-27370	229	29	“	"	PUNCT
iiclr-27370	229	30	emphasized	emphasize	VERB
iiclr-27370	229	31	the	the	DET
iiclr-27370	229	32	importance	importance	NOUN
iiclr-27370	229	33	of	of	ADP
iiclr-27370	229	34	analyzing	analyze	VERB
iiclr-27370	229	35	the	the	DET
iiclr-27370	229	36	‘	'	PUNCT
iiclr-27370	229	37	economic	economic	ADJ
iiclr-27370	229	38	realities	reality	NOUN
iiclr-27370	229	39	’	'	PUNCT
iiclr-27370	229	40	of	of	ADP
iiclr-27370	229	41	a	a	DET
iiclr-27370	229	42	transaction	transaction	NOUN
iiclr-27370	229	43	,	,	PUNCT
iiclr-27370	229	44	as	as	SCONJ
iiclr-27370	229	45	opposed	oppose	VERB
iiclr-27370	229	46	to	to	ADP
iiclr-27370	229	47	its	its	PRON
iiclr-27370	229	48	form	form	NOUN
iiclr-27370	229	49	or	or	CCONJ
iiclr-27370	229	50	the	the	DET
iiclr-27370	229	51	label	label	NOUN
iiclr-27370	229	52	that	that	PRON
iiclr-27370	229	53	its	its	PRON
iiclr-27370	229	54	promoters	promoter	NOUN
iiclr-27370	229	55	give	give	VERB
iiclr-27370	229	56	it	it	PRON
iiclr-27370	229	57	”	"	PUNCT
iiclr-27370	229	58	)	)	PUNCT
iiclr-27370	229	59	.	.	PUNCT
iiclr-27370	230	1	89	89	NUM
iiclr-27370	230	2	.	.	PUNCT
iiclr-27370	231	1	jane	jane	PROPN
iiclr-27370	231	2	kim	kim	PROPN
iiclr-27370	231	3	,	,	PUNCT
iiclr-27370	231	4	suffocate	suffocate	VERB
iiclr-27370	231	5	or	or	CCONJ
iiclr-27370	231	6	innovate	innovate	VERB
iiclr-27370	231	7	:	:	PUNCT
iiclr-27370	231	8	an	an	DET
iiclr-27370	231	9	observation	observation	NOUN
iiclr-27370	231	10	of	of	ADP
iiclr-27370	231	11	california	california	PROPN
iiclr-27370	231	12	’s	’s	PART
iiclr-27370	231	13	regulatory	regulatory	ADJ
iiclr-27370	231	14	framework	framework	NOUN
iiclr-27370	231	15	for	for	ADP
iiclr-27370	231	16	cryptocurrency	cryptocurrency	NOUN
iiclr-27370	231	17	,	,	PUNCT
iiclr-27370	231	18	52	52	NUM
iiclr-27370	231	19	loy	loy	PROPN
iiclr-27370	231	20	.	.	PUNCT
iiclr-27370	232	1	l.a	l.a	PROPN
iiclr-27370	232	2	.	.	PROPN
iiclr-27370	232	3	l.	l.	PROPN
iiclr-27370	232	4	rev	rev	PROPN
iiclr-27370	232	5	.	.	PROPN
iiclr-27370	232	6	339	339	NUM
iiclr-27370	232	7	,	,	PUNCT
iiclr-27370	232	8	348	348	NUM
iiclr-27370	232	9	(	(	PUNCT
iiclr-27370	232	10	2019	2019	NUM
iiclr-27370	232	11	)	)	PUNCT
iiclr-27370	232	12	;	;	PUNCT
iiclr-27370	232	13	see	see	VERB
iiclr-27370	232	14	memorandum	memorandum	NOUN
iiclr-27370	232	15	on	on	ADP
iiclr-27370	232	16	the	the	DET
iiclr-27370	232	17	application	application	NOUN
iiclr-27370	232	18	of	of	ADP
iiclr-27370	232	19	fincen	fincen	PROPN
iiclr-27370	232	20	’s	’s	PART
iiclr-27370	232	21	regulations	regulation	NOUN
iiclr-27370	232	22	to	to	ADP
iiclr-27370	232	23	persons	person	NOUN
iiclr-27370	232	24	administering	administer	VERB
iiclr-27370	232	25	,	,	PUNCT
iiclr-27370	232	26	exchanging	exchange	VERB
iiclr-27370	232	27	,	,	PUNCT
iiclr-27370	232	28	or	or	CCONJ
iiclr-27370	232	29	using	use	VERB
iiclr-27370	232	30	virtual	virtual	ADJ
iiclr-27370	232	31	currencies	currency	NOUN
iiclr-27370	232	32	,	,	PUNCT
iiclr-27370	232	33	fincen	fincen	NOUN
iiclr-27370	232	34	,	,	PUNCT
iiclr-27370	232	35	(	(	PUNCT
iiclr-27370	232	36	may	may	PROPN
iiclr-27370	232	37	9	9	NUM
iiclr-27370	232	38	,	,	PUNCT
iiclr-27370	232	39	2019	2019	NUM
iiclr-27370	232	40	)	)	PUNCT
iiclr-27370	232	41	,	,	PUNCT
iiclr-27370	233	1	https://www.fincen.gov/sites/default/files/2019-05/fincen%20	https://www.fincen.gov/sites/default/files/2019-05/fincen%20	X
iiclr-27370	233	2	guidance%20cvc%20final%20508.pdf	guidance%20cvc%20final%20508.pdf	PROPN
iiclr-27370	234	1	[	[	X
iiclr-27370	234	2	https://perma.cc/kez8-sjgd	https://perma.cc/kez8-sjgd	X
iiclr-27370	234	3	]	]	PUNCT
iiclr-27370	234	4	.	.	PUNCT
iiclr-27370	235	1	90	90	NUM
iiclr-27370	235	2	.	.	PUNCT
iiclr-27370	236	1	kim	kim	PROPN
iiclr-27370	236	2	,	,	PUNCT
iiclr-27370	236	3	supra	supra	PROPN
iiclr-27370	236	4	note	note	PROPN
iiclr-27370	236	5	89	89	NUM
iiclr-27370	236	6	,	,	PUNCT
iiclr-27370	236	7	at	at	ADP
iiclr-27370	236	8	348	348	NUM
iiclr-27370	236	9	.	.	PUNCT
iiclr-27370	236	10	91	91	NUM
iiclr-27370	236	11	.	.	PUNCT
iiclr-27370	237	1	john	john	PROPN
iiclr-27370	237	2	hyatt	hyatt	PROPN
iiclr-27370	237	3	,	,	PUNCT
iiclr-27370	237	4	decoding	decode	VERB
iiclr-27370	237	5	crypto	crypto	NOUN
iiclr-27370	237	6	:	:	PUNCT
iiclr-27370	237	7	are	be	AUX
iiclr-27370	237	8	there	there	PRON
iiclr-27370	237	9	regulations	regulation	NOUN
iiclr-27370	237	10	in	in	ADP
iiclr-27370	237	11	the	the	DET
iiclr-27370	237	12	u.s	u.s	PROPN
iiclr-27370	237	13	.	.	PROPN
iiclr-27370	237	14	for	for	ADP
iiclr-27370	237	15	cryptocurrency	cryptocurrency	NOUN
iiclr-27370	237	16	?	?	PUNCT
iiclr-27370	237	17	,	,	PUNCT
iiclr-27370	237	18	nasdaq	nasdaq	PROPN
iiclr-27370	237	19	(	(	PUNCT
iiclr-27370	237	20	aug	aug	PROPN
iiclr-27370	237	21	.	.	PROPN
iiclr-27370	237	22	19	19	NUM
iiclr-27370	237	23	,	,	PUNCT
iiclr-27370	237	24	2021	2021	NUM
iiclr-27370	237	25	)	)	PUNCT
iiclr-27370	237	26	,	,	PUNCT
iiclr-27370	238	1	[	[	X
iiclr-27370	238	2	https://www.nasdaq.com/articles/decoding-crypto%3a-are-thereregulations-in-the-u.s.-for-cryptocurrency-2021-08-19	https://www.nasdaq.com/articles/decoding-crypto%3a-are-thereregulations-in-the-u.s.-for-cryptocurrency-2021-08-19	X
iiclr-27370	238	3	[	[	X
iiclr-27370	238	4	https://perma.cc/b64l-g5nu	https://perma.cc/b64l-g5nu	NOUN
iiclr-27370	238	5	]	]	PUNCT
iiclr-27370	238	6	.	.	PUNCT
iiclr-27370	239	1	92	92	NUM
iiclr-27370	239	2	.	.	PUNCT
iiclr-27370	240	1	kim	kim	PROPN
iiclr-27370	240	2	,	,	PUNCT
iiclr-27370	240	3	supra	supra	PROPN
iiclr-27370	240	4	note	note	PROPN
iiclr-27370	240	5	89	89	NUM
iiclr-27370	240	6	,	,	PUNCT
iiclr-27370	240	7	at	at	ADP
iiclr-27370	240	8	347	347	NUM
iiclr-27370	240	9	-	-	SYM
iiclr-27370	240	10	48	48	NUM
iiclr-27370	240	11	.	.	PUNCT
iiclr-27370	241	1	93	93	NUM
iiclr-27370	241	2	.	.	PUNCT
iiclr-27370	242	1	i	i	PRON
iiclr-27370	242	2	d.	d.	PROPN
iiclr-27370	242	3	at	at	ADP
iiclr-27370	242	4	348	348	NUM
iiclr-27370	242	5	.	.	PUNCT
iiclr-27370	243	1	94	94	NUM
iiclr-27370	243	2	.	.	PUNCT
iiclr-27370	244	1	i	i	PRON
iiclr-27370	244	2	d.	d.	PROPN
iiclr-27370	244	3	;	;	PUNCT
iiclr-27370	244	4	bank	bank	PROPN
iiclr-27370	244	5	secrecy	secrecy	PROPN
iiclr-27370	244	6	act	act	PROPN
iiclr-27370	244	7	,	,	PUNCT
iiclr-27370	244	8	31	31	NUM
iiclr-27370	244	9	u.s.c	u.s.c	ADJ
iiclr-27370	244	10	.	.	PUNCT
iiclr-27370	245	1	§	§	PROPN
iiclr-27370	245	2	5311	5311	NUM
iiclr-27370	245	3	.	.	PUNCT
iiclr-27370	246	1	95	95	NUM
iiclr-27370	246	2	.	.	PUNCT
iiclr-27370	247	1	see	see	VERB
iiclr-27370	247	2	kim	kim	PROPN
iiclr-27370	247	3	,	,	PUNCT
iiclr-27370	247	4	supra	supra	PROPN
iiclr-27370	247	5	note	note	PROPN
iiclr-27370	247	6	89	89	NUM
iiclr-27370	247	7	,	,	PUNCT
iiclr-27370	247	8	at	at	ADP
iiclr-27370	247	9	347	347	NUM
iiclr-27370	247	10	-	-	SYM
iiclr-27370	247	11	48	48	NUM
iiclr-27370	247	12	.	.	PUNCT
iiclr-27370	248	1	2023	2023	NUM
iiclr-27370	248	2	]	]	PUNCT
iiclr-27370	248	3	the	the	DET
iiclr-27370	248	4	wild	wild	ADJ
iiclr-27370	248	5	west	west	NOUN
iiclr-27370	248	6	,	,	PUNCT
iiclr-27370	248	7	cryptocurrency	cryptocurrency	NOUN
iiclr-27370	248	8	,	,	PUNCT
iiclr-27370	248	9	and	and	CCONJ
iiclr-27370	248	10	singapore	singapore	PROPN
iiclr-27370	248	11	203	203	NUM
iiclr-27370	248	12	to	to	PART
iiclr-27370	248	13	implement	implement	VERB
iiclr-27370	248	14	anti	anti	ADJ
iiclr-27370	248	15	-	-	ADJ
iiclr-27370	248	16	money	money	ADJ
iiclr-27370	248	17	laundering	laundering	NOUN
iiclr-27370	248	18	and	and	CCONJ
iiclr-27370	248	19	know	know	NOUN
iiclr-27370	248	20	-	-	PUNCT
iiclr-27370	248	21	your	your	PRON
iiclr-27370	248	22	-	-	PUNCT
iiclr-27370	248	23	customer	customer	NOUN
iiclr-27370	248	24	(	(	PUNCT
iiclr-27370	248	25	kyc	kyc	PROPN
iiclr-27370	248	26	)	)	PUNCT
iiclr-27370	248	27	protocols.96	protocols.96	PROPN
iiclr-27370	248	28	kyc	kyc	PROPN
iiclr-27370	248	29	protocols	protocol	NOUN
iiclr-27370	248	30	require	require	VERB
iiclr-27370	248	31	cryptocurrency	cryptocurrency	NOUN
iiclr-27370	248	32	exchanges	exchange	NOUN
iiclr-27370	248	33	to	to	PART
iiclr-27370	248	34	keep	keep	VERB
iiclr-27370	248	35	in	in	ADP
iiclr-27370	248	36	mind	mind	NOUN
iiclr-27370	248	37	who	who	PRON
iiclr-27370	248	38	they	they	PRON
iiclr-27370	248	39	are	be	AUX
iiclr-27370	248	40	transacting	transact	VERB
iiclr-27370	248	41	with	with	ADP
iiclr-27370	248	42	,	,	PUNCT
iiclr-27370	248	43	to	to	PART
iiclr-27370	248	44	continuously	continuously	ADV
iiclr-27370	248	45	monitor	monitor	VERB
iiclr-27370	248	46	whether	whether	SCONJ
iiclr-27370	248	47	those	those	DET
iiclr-27370	248	48	individuals	individual	NOUN
iiclr-27370	248	49	are	be	AUX
iiclr-27370	248	50	who	who	PRON
iiclr-27370	248	51	they	they	PRON
iiclr-27370	248	52	originally	originally	ADV
iiclr-27370	248	53	claimed	claim	VERB
iiclr-27370	248	54	to	to	PART
iiclr-27370	248	55	be	be	AUX
iiclr-27370	248	56	,	,	PUNCT
iiclr-27370	248	57	and	and	CCONJ
iiclr-27370	248	58	to	to	PART
iiclr-27370	248	59	document	document	VERB
iiclr-27370	248	60	how	how	SCONJ
iiclr-27370	248	61	patrons	patron	NOUN
iiclr-27370	248	62	are	be	AUX
iiclr-27370	248	63	using	use	VERB
iiclr-27370	248	64	the	the	DET
iiclr-27370	248	65	cryptocurrency	cryptocurrency	NOUN
iiclr-27370	248	66	they	they	PRON
iiclr-27370	248	67	purchase.97	purchase.97	VERB
iiclr-27370	248	68	to	to	PART
iiclr-27370	248	69	conform	conform	VERB
iiclr-27370	248	70	with	with	ADP
iiclr-27370	248	71	kyc	kyc	PROPN
iiclr-27370	248	72	protocols	protocol	NOUN
iiclr-27370	248	73	,	,	PUNCT
iiclr-27370	248	74	financial	financial	ADJ
iiclr-27370	248	75	institutions	institution	NOUN
iiclr-27370	248	76	,	,	PUNCT
iiclr-27370	248	77	including	include	VERB
iiclr-27370	248	78	cryptocurrency	cryptocurrency	NOUN
iiclr-27370	248	79	platforms	platform	NOUN
iiclr-27370	248	80	,	,	PUNCT
iiclr-27370	248	81	are	be	AUX
iiclr-27370	248	82	required	require	VERB
iiclr-27370	248	83	to	to	PART
iiclr-27370	248	84	vet	vet	VERB
iiclr-27370	248	85	customers	customer	NOUN
iiclr-27370	248	86	by	by	ADP
iiclr-27370	248	87	obtaining	obtain	VERB
iiclr-27370	248	88	the	the	DET
iiclr-27370	248	89	name	name	NOUN
iiclr-27370	248	90	,	,	PUNCT
iiclr-27370	248	91	date	date	NOUN
iiclr-27370	248	92	of	of	ADP
iiclr-27370	248	93	birth	birth	NOUN
iiclr-27370	248	94	,	,	PUNCT
iiclr-27370	248	95	address	address	NOUN
iiclr-27370	248	96	,	,	PUNCT
iiclr-27370	248	97	and	and	CCONJ
iiclr-27370	248	98	identification	identification	NOUN
iiclr-27370	248	99	number	number	NOUN
iiclr-27370	248	100	of	of	ADP
iiclr-27370	248	101	every	every	DET
iiclr-27370	248	102	person	person	NOUN
iiclr-27370	248	103	who	who	PRON
iiclr-27370	248	104	transacts	transact	VERB
iiclr-27370	248	105	with	with	ADP
iiclr-27370	248	106	them.98	them.98	NOUN
iiclr-27370	248	107	this	this	DET
iiclr-27370	248	108	requirement	requirement	NOUN
iiclr-27370	248	109	is	be	AUX
iiclr-27370	248	110	typically	typically	ADV
iiclr-27370	248	111	satisfied	satisfied	ADJ
iiclr-27370	248	112	by	by	ADP
iiclr-27370	248	113	asking	ask	VERB
iiclr-27370	248	114	customers	customer	NOUN
iiclr-27370	248	115	to	to	PART
iiclr-27370	248	116	provide	provide	VERB
iiclr-27370	248	117	government	government	NOUN
iiclr-27370	248	118	issued	issue	VERB
iiclr-27370	248	119	identification	identification	NOUN
iiclr-27370	248	120	such	such	ADJ
iiclr-27370	248	121	as	as	ADP
iiclr-27370	248	122	a	a	DET
iiclr-27370	248	123	driver	driver	NOUN
iiclr-27370	248	124	’s	’s	PART
iiclr-27370	248	125	license	license	NOUN
iiclr-27370	248	126	or	or	CCONJ
iiclr-27370	248	127	passport.99	passport.99	PROPN
iiclr-27370	248	128	kyc	kyc	PROPN
iiclr-27370	248	129	protocols	protocol	NOUN
iiclr-27370	248	130	also	also	ADV
iiclr-27370	248	131	impose	impose	VERB
iiclr-27370	248	132	requirements	requirement	NOUN
iiclr-27370	248	133	that	that	PRON
iiclr-27370	248	134	crypto	crypto	NOUN
iiclr-27370	248	135	exchanges	exchange	NOUN
iiclr-27370	248	136	continue	continue	VERB
iiclr-27370	248	137	this	this	DET
iiclr-27370	248	138	vetting	vetting	NOUN
iiclr-27370	248	139	process	process	NOUN
iiclr-27370	248	140	by	by	ADP
iiclr-27370	248	141	maintaining	maintain	VERB
iiclr-27370	248	142	due	due	ADJ
iiclr-27370	248	143	diligence	diligence	NOUN
iiclr-27370	248	144	with	with	ADP
iiclr-27370	248	145	their	their	PRON
iiclr-27370	248	146	customers	customer	NOUN
iiclr-27370	248	147	to	to	PART
iiclr-27370	248	148	ensure	ensure	VERB
iiclr-27370	248	149	they	they	PRON
iiclr-27370	248	150	continue	continue	VERB
iiclr-27370	248	151	to	to	PART
iiclr-27370	248	152	be	be	AUX
iiclr-27370	248	153	who	who	PRON
iiclr-27370	248	154	they	they	PRON
iiclr-27370	248	155	claimed	claim	VERB
iiclr-27370	248	156	upon	upon	SCONJ
iiclr-27370	248	157	initially	initially	ADV
iiclr-27370	248	158	joining	join	VERB
iiclr-27370	248	159	the	the	DET
iiclr-27370	248	160	exchange.100	exchange.100	NOUN
iiclr-27370	248	161	this	this	DET
iiclr-27370	248	162	practice	practice	NOUN
iiclr-27370	248	163	,	,	PUNCT
iiclr-27370	248	164	known	know	VERB
iiclr-27370	248	165	as	as	ADP
iiclr-27370	248	166	“	"	PUNCT
iiclr-27370	248	167	customer	customer	NOUN
iiclr-27370	248	168	due	due	ADJ
iiclr-27370	248	169	diligence	diligence	NOUN
iiclr-27370	248	170	,	,	PUNCT
iiclr-27370	248	171	”	"	PUNCT
iiclr-27370	248	172	ensures	ensure	VERB
iiclr-27370	248	173	that	that	SCONJ
iiclr-27370	248	174	cryptocurrency	cryptocurrency	NOUN
iiclr-27370	248	175	institutions	institution	NOUN
iiclr-27370	248	176	will	will	AUX
iiclr-27370	248	177	act	act	VERB
iiclr-27370	248	178	with	with	ADP
iiclr-27370	248	179	a	a	DET
iiclr-27370	248	180	heightened	heightened	ADJ
iiclr-27370	248	181	level	level	NOUN
iiclr-27370	248	182	of	of	ADP
iiclr-27370	248	183	diligence	diligence	NOUN
iiclr-27370	248	184	throughout	throughout	ADP
iiclr-27370	248	185	their	their	PRON
iiclr-27370	248	186	relationships	relationship	NOUN
iiclr-27370	248	187	with	with	ADP
iiclr-27370	248	188	their	their	PRON
iiclr-27370	248	189	customers	customer	NOUN
iiclr-27370	248	190	,	,	PUNCT
iiclr-27370	248	191	ideally	ideally	ADV
iiclr-27370	248	192	legitimizing	legitimize	VERB
iiclr-27370	248	193	the	the	DET
iiclr-27370	248	194	industry	industry	NOUN
iiclr-27370	248	195	,	,	PUNCT
iiclr-27370	248	196	at	at	ADP
iiclr-27370	248	197	least	least	ADJ
iiclr-27370	248	198	to	to	ADP
iiclr-27370	248	199	some	some	DET
iiclr-27370	248	200	degree	degree	NOUN
iiclr-27370	248	201	,	,	PUNCT
iiclr-27370	248	202	and	and	CCONJ
iiclr-27370	248	203	reducing	reduce	VERB
iiclr-27370	248	204	the	the	DET
iiclr-27370	248	205	chances	chance	NOUN
iiclr-27370	248	206	that	that	SCONJ
iiclr-27370	248	207	cryptocurrency	cryptocurrency	NOUN
iiclr-27370	248	208	will	will	AUX
iiclr-27370	248	209	be	be	AUX
iiclr-27370	248	210	used	use	VERB
iiclr-27370	248	211	for	for	ADP
iiclr-27370	248	212	illegal	illegal	ADJ
iiclr-27370	248	213	activities.101	activities.101	PROPN
iiclr-27370	248	214	kyc	kyc	PROPN
iiclr-27370	248	215	protocols	protocol	NOUN
iiclr-27370	248	216	effectively	effectively	ADV
iiclr-27370	248	217	help	help	VERB
iiclr-27370	248	218	exchanges	exchange	NOUN
iiclr-27370	248	219	identify	identify	VERB
iiclr-27370	248	220	when	when	SCONJ
iiclr-27370	248	221	a	a	DET
iiclr-27370	248	222	particular	particular	ADJ
iiclr-27370	248	223	customer	customer	NOUN
iiclr-27370	248	224	may	may	AUX
iiclr-27370	248	225	be	be	AUX
iiclr-27370	248	226	conducting	conduct	VERB
iiclr-27370	248	227	abusive	abusive	ADJ
iiclr-27370	248	228	or	or	CCONJ
iiclr-27370	248	229	illegal	illegal	ADJ
iiclr-27370	248	230	transactions	transaction	NOUN
iiclr-27370	248	231	with	with	ADP
iiclr-27370	248	232	their	their	PRON
iiclr-27370	248	233	crypto	crypto	NOUN
iiclr-27370	248	234	and	and	CCONJ
iiclr-27370	248	235	create	create	VERB
iiclr-27370	248	236	ongoing	ongoing	ADJ
iiclr-27370	248	237	monitoring	monitoring	NOUN
iiclr-27370	248	238	over	over	ADP
iiclr-27370	248	239	crypto	crypto	NOUN
iiclr-27370	248	240	holders	holder	NOUN
iiclr-27370	248	241	'	'	PART
iiclr-27370	248	242	transactions	transaction	NOUN
iiclr-27370	248	243	and	and	CCONJ
iiclr-27370	248	244	accounts.102	accounts.102	ADV
iiclr-27370	248	245	while	while	SCONJ
iiclr-27370	248	246	these	these	DET
iiclr-27370	248	247	protocols	protocol	NOUN
iiclr-27370	248	248	appear	appear	VERB
iiclr-27370	248	249	to	to	PART
iiclr-27370	248	250	protect	protect	VERB
iiclr-27370	248	251	cryptocurrency	cryptocurrency	NOUN
iiclr-27370	248	252	exchanges	exchange	NOUN
iiclr-27370	248	253	and	and	CCONJ
iiclr-27370	248	254	mitigate	mitigate	VERB
iiclr-27370	248	255	some	some	PRON
iiclr-27370	248	256	of	of	ADP
iiclr-27370	248	257	the	the	DET
iiclr-27370	248	258	risks	risk	NOUN
iiclr-27370	248	259	associated	associate	VERB
iiclr-27370	248	260	with	with	ADP
iiclr-27370	248	261	cryptocurrency	cryptocurrency	NOUN
iiclr-27370	248	262	,	,	PUNCT
iiclr-27370	248	263	such	such	ADJ
iiclr-27370	248	264	as	as	ADP
iiclr-27370	248	265	terrorism	terrorism	NOUN
iiclr-27370	248	266	funding	funding	NOUN
iiclr-27370	248	267	and	and	CCONJ
iiclr-27370	248	268	criminal	criminal	ADJ
iiclr-27370	248	269	enterprise	enterprise	NOUN
iiclr-27370	248	270	,	,	PUNCT
iiclr-27370	248	271	they	they	PRON
iiclr-27370	248	272	also	also	ADV
iiclr-27370	248	273	impose	impose	VERB
iiclr-27370	248	274	burdens	burden	NOUN
iiclr-27370	248	275	on	on	ADP
iiclr-27370	248	276	cryptocurrency	cryptocurrency	NOUN
iiclr-27370	248	277	institutions.103	institutions.103	NOUN
iiclr-27370	248	278	indeed	indeed	ADV
iiclr-27370	248	279	,	,	PUNCT
iiclr-27370	248	280	kyc	kyc	PROPN
iiclr-27370	248	281	protocols	protocol	NOUN
iiclr-27370	248	282	,	,	PUNCT
iiclr-27370	248	283	as	as	SCONJ
iiclr-27370	248	284	applied	apply	VERB
iiclr-27370	248	285	in	in	ADP
iiclr-27370	248	286	the	the	DET
iiclr-27370	248	287	united	united	PROPN
iiclr-27370	248	288	states	states	PROPN
iiclr-27370	248	289	,	,	PUNCT
iiclr-27370	248	290	have	have	AUX
iiclr-27370	248	291	caused	cause	VERB
iiclr-27370	248	292	many	many	ADJ
iiclr-27370	248	293	problems	problem	NOUN
iiclr-27370	248	294	for	for	ADP
iiclr-27370	248	295	cryptocurrency	cryptocurrency	NOUN
iiclr-27370	248	296	exchanges	exchange	NOUN
iiclr-27370	248	297	and	and	CCONJ
iiclr-27370	248	298	financial	financial	ADJ
iiclr-27370	248	299	institutions	institution	NOUN
iiclr-27370	248	300	alike.104	alike.104	VERB
iiclr-27370	248	301	a	a	DET
iiclr-27370	248	302	2017	2017	NUM
iiclr-27370	248	303	survey	survey	NOUN
iiclr-27370	248	304	conducted	conduct	VERB
iiclr-27370	248	305	by	by	ADP
iiclr-27370	248	306	thomson	thomson	PROPN
iiclr-27370	248	307	reuters	reuters	PROPN
iiclr-27370	248	308	revealed	reveal	VERB
iiclr-27370	248	309	that	that	SCONJ
iiclr-27370	248	310	,	,	PUNCT
iiclr-27370	248	311	due	due	ADP
iiclr-27370	248	312	to	to	ADP
iiclr-27370	248	313	these	these	DET
iiclr-27370	248	314	protocols	protocol	NOUN
iiclr-27370	248	315	,	,	PUNCT
iiclr-27370	248	316	customer	customer	NOUN
iiclr-27370	248	317	onboarding	onboarding	NOUN
iiclr-27370	248	318	time	time	NOUN
iiclr-27370	248	319	increased	increase	VERB
iiclr-27370	248	320	approximately	approximately	ADV
iiclr-27370	248	321	twenty	twenty	NUM
iiclr-27370	248	322	-	-	PUNCT
iiclr-27370	248	323	two	two	NUM
iiclr-27370	248	324	percent	percent	NOUN
iiclr-27370	248	325	from	from	ADP
iiclr-27370	248	326	2016	2016	NUM
iiclr-27370	248	327	levels	level	NOUN
iiclr-27370	248	328	,	,	PUNCT
iiclr-27370	248	329	and	and	CCONJ
iiclr-27370	248	330	was	be	AUX
iiclr-27370	248	331	expected	expect	VERB
iiclr-27370	248	332	to	to	PART
iiclr-27370	248	333	increase	increase	VERB
iiclr-27370	248	334	an	an	DET
iiclr-27370	248	335	additional	additional	ADJ
iiclr-27370	248	336	eighteen	eighteen	NUM
iiclr-27370	248	337	percent	percent	NOUN
iiclr-27370	248	338	in	in	ADP
iiclr-27370	248	339	2017.105	2017.105	NUM
iiclr-27370	248	340	furthermore	furthermore	ADV
iiclr-27370	248	341	,	,	PUNCT
iiclr-27370	248	342	a	a	DET
iiclr-27370	248	343	2018	2018	NUM
iiclr-27370	248	344	study	study	NOUN
iiclr-27370	248	345	revealed	reveal	VERB
iiclr-27370	248	346	that	that	SCONJ
iiclr-27370	248	347	sixty	sixty	NUM
iiclr-27370	248	348	-	-	PUNCT
iiclr-27370	248	349	one	one	NUM
iiclr-27370	248	350	percent	percent	NOUN
iiclr-27370	248	351	of	of	ADP
iiclr-27370	248	352	financial	financial	ADJ
iiclr-27370	248	353	institutions	institution	NOUN
iiclr-27370	248	354	had	have	AUX
iiclr-27370	248	355	increased	increase	VERB
iiclr-27370	248	356	their	their	PRON
iiclr-27370	248	357	kyc	kyc	PROPN
iiclr-27370	248	358	compliance	compliance	NOUN
iiclr-27370	248	359	budget	budget	NOUN
iiclr-27370	248	360	,	,	PUNCT
iiclr-27370	248	361	compared	compare	VERB
iiclr-27370	248	362	to	to	ADP
iiclr-27370	248	363	only	only	ADV
iiclr-27370	248	364	fiftythree	fiftythree	ADJ
iiclr-27370	248	365	percent	percent	NOUN
iiclr-27370	248	366	in	in	ADP
iiclr-27370	248	367	the	the	DET
iiclr-27370	248	368	year	year	NOUN
iiclr-27370	248	369	prior.106	prior.106	NOUN
iiclr-27370	248	370	this	this	DET
iiclr-27370	248	371	study	study	NOUN
iiclr-27370	248	372	also	also	ADV
iiclr-27370	248	373	found	find	VERB
iiclr-27370	248	374	that	that	SCONJ
iiclr-27370	248	375	these	these	DET
iiclr-27370	248	376	institutions	institution	NOUN
iiclr-27370	248	377	were	be	AUX
iiclr-27370	248	378	taking	take	VERB
iiclr-27370	248	379	an	an	DET
iiclr-27370	248	380	average	average	NOUN
iiclr-27370	248	381	of	of	ADP
iiclr-27370	248	382	twenty	twenty	NUM
iiclr-27370	248	383	-	-	PUNCT
iiclr-27370	248	384	four	four	NUM
iiclr-27370	248	385	days	day	NOUN
iiclr-27370	248	386	to	to	PART
iiclr-27370	248	387	complete	complete	VERB
iiclr-27370	248	388	kyc	kyc	PROPN
iiclr-27370	248	389	onboarding.107	onboarding.107	PROPN
iiclr-27370	248	390	what	what	PRON
iiclr-27370	248	391	is	be	AUX
iiclr-27370	248	392	more	more	ADJ
iiclr-27370	248	393	—	—	PUNCT
iiclr-27370	248	394	the	the	DET
iiclr-27370	248	395	cost	cost	NOUN
iiclr-27370	248	396	of	of	ADP
iiclr-27370	248	397	compliance	compliance	NOUN
iiclr-27370	248	398	with	with	ADP
iiclr-27370	248	399	kyc	kyc	PROPN
iiclr-27370	248	400	protocols	protocol	NOUN
iiclr-27370	248	401	has	have	AUX
iiclr-27370	248	402	imposed	impose	VERB
iiclr-27370	248	403	increasing	increase	VERB
iiclr-27370	248	404	96	96	NUM
iiclr-27370	248	405	.	.	PUNCT
iiclr-27370	249	1	i	i	PRON
iiclr-27370	249	2	d.	d.	PROPN
iiclr-27370	249	3	at	at	ADP
iiclr-27370	249	4	347	347	NUM
iiclr-27370	249	5	;	;	PUNCT
iiclr-27370	249	6	shulman	shulman	PROPN
iiclr-27370	249	7	,	,	PUNCT
iiclr-27370	249	8	supra	supra	PROPN
iiclr-27370	249	9	note	note	PROPN
iiclr-27370	249	10	17	17	NUM
iiclr-27370	249	11	,	,	PUNCT
iiclr-27370	249	12	at	at	ADP
iiclr-27370	249	13	83006	83006	NUM
iiclr-27370	249	14	.	.	PUNCT
iiclr-27370	250	1	97	97	NUM
iiclr-27370	250	2	.	.	PUNCT
iiclr-27370	250	3	shulman	shulman	PROPN
iiclr-27370	250	4	,	,	PUNCT
iiclr-27370	250	5	supra	supra	PROPN
iiclr-27370	250	6	note	note	PROPN
iiclr-27370	250	7	17	17	NUM
iiclr-27370	250	8	,	,	PUNCT
iiclr-27370	250	9	at	at	ADP
iiclr-27370	250	10	852	852	NUM
iiclr-27370	250	11	.	.	PUNCT
iiclr-27370	250	12	98	98	NUM
iiclr-27370	250	13	.	.	PUNCT
iiclr-27370	251	1	i	i	PRON
iiclr-27370	251	2	d.	d.	PROPN
iiclr-27370	251	3	at	at	ADP
iiclr-27370	251	4	853	853	NUM
iiclr-27370	251	5	.	.	PUNCT
iiclr-27370	252	1	99	99	NUM
iiclr-27370	252	2	.	.	PUNCT
iiclr-27370	253	1	i	i	PRON
iiclr-27370	253	2	d.	d.	PROPN
iiclr-27370	253	3	100	100	NUM
iiclr-27370	253	4	.	.	PUNCT
iiclr-27370	254	1	i	i	PRON
iiclr-27370	254	2	d.	d.	VERB
iiclr-27370	254	3	at	at	ADP
iiclr-27370	254	4	853	853	NUM
iiclr-27370	254	5	-	-	SYM
iiclr-27370	254	6	54	54	NUM
iiclr-27370	254	7	.	.	PUNCT
iiclr-27370	255	1	101	101	NUM
iiclr-27370	255	2	.	.	PUNCT
iiclr-27370	256	1	i	i	PRON
iiclr-27370	256	2	d.	d.	PROPN
iiclr-27370	256	3	at	at	ADP
iiclr-27370	256	4	854	854	NUM
iiclr-27370	256	5	.	.	PUNCT
iiclr-27370	256	6	102	102	NUM
iiclr-27370	256	7	.	.	PUNCT
iiclr-27370	257	1	see	see	VERB
iiclr-27370	257	2	i	i	PRON
iiclr-27370	257	3	d.	d.	PROPN
iiclr-27370	257	4	103	103	NUM
iiclr-27370	257	5	.	.	PUNCT
iiclr-27370	258	1	i	i	PRON
iiclr-27370	258	2	d.	d.	PROPN
iiclr-27370	258	3	104	104	NUM
iiclr-27370	258	4	.	.	PUNCT
iiclr-27370	259	1	see	see	VERB
iiclr-27370	259	2	i	i	PRON
iiclr-27370	259	3	d.	d.	PROPN
iiclr-27370	259	4	at	at	ADP
iiclr-27370	259	5	854	854	NUM
iiclr-27370	259	6	-	-	SYM
iiclr-27370	259	7	55	55	NUM
iiclr-27370	259	8	.	.	PUNCT
iiclr-27370	260	1	105	105	NUM
iiclr-27370	260	2	.	.	PUNCT
iiclr-27370	261	1	i	i	PRON
iiclr-27370	261	2	d	d	PROPN
iiclr-27370	261	3	at	at	ADP
iiclr-27370	261	4	855	855	NUM
iiclr-27370	261	5	.	.	PUNCT
iiclr-27370	262	1	106	106	NUM
iiclr-27370	262	2	.	.	PUNCT
iiclr-27370	263	1	i	i	PRON
iiclr-27370	263	2	d.	d.	PROPN
iiclr-27370	263	3	107	107	NUM
iiclr-27370	263	4	.	.	PUNCT
iiclr-27370	264	1	i	i	PRON
iiclr-27370	264	2	d.	d.	PROPN
iiclr-27370	264	3	204	204	NUM
iiclr-27370	264	4	indiana	indiana	PROPN
iiclr-27370	264	5	int’l	int’l	NUM
iiclr-27370	264	6	&	&	CCONJ
iiclr-27370	264	7	comp	comp	PROPN
iiclr-27370	264	8	.	.	PUNCT
iiclr-27370	265	1	law	law	NOUN
iiclr-27370	265	2	review	review	NOUN
iiclr-27370	265	3	[	[	X
iiclr-27370	265	4	vol	vol	NOUN
iiclr-27370	265	5	.	.	PUNCT
iiclr-27370	265	6	33:191	33:191	NUM
iiclr-27370	265	7	annual	annual	ADJ
iiclr-27370	265	8	costs	cost	NOUN
iiclr-27370	265	9	on	on	ADP
iiclr-27370	265	10	financial	financial	ADJ
iiclr-27370	265	11	institutions	institution	NOUN
iiclr-27370	265	12	and	and	CCONJ
iiclr-27370	265	13	exchanges.108	exchanges.108	VERB
iiclr-27370	265	14	the	the	DET
iiclr-27370	265	15	average	average	ADJ
iiclr-27370	265	16	institution	institution	NOUN
iiclr-27370	265	17	spends	spend	VERB
iiclr-27370	265	18	around	around	ADP
iiclr-27370	265	19	$	$	SYM
iiclr-27370	265	20	48	48	NUM
iiclr-27370	265	21	million	million	NUM
iiclr-27370	265	22	a	a	DET
iiclr-27370	265	23	year	year	NOUN
iiclr-27370	265	24	on	on	ADP
iiclr-27370	265	25	kyc	kyc	PROPN
iiclr-27370	265	26	compliance	compliance	NOUN
iiclr-27370	265	27	alone.109	alone.109	VERB
iiclr-27370	265	28	however	however	ADV
iiclr-27370	265	29	,	,	PUNCT
iiclr-27370	265	30	kyc	kyc	PROPN
iiclr-27370	265	31	can	can	AUX
iiclr-27370	265	32	be	be	AUX
iiclr-27370	265	33	significantly	significantly	ADV
iiclr-27370	265	34	costlier	costly	ADJ
iiclr-27370	265	35	for	for	ADP
iiclr-27370	265	36	larger	large	ADJ
iiclr-27370	265	37	institutions	institution	NOUN
iiclr-27370	265	38	;	;	PUNCT
iiclr-27370	265	39	in	in	ADP
iiclr-27370	265	40	2015	2015	NUM
iiclr-27370	265	41	,	,	PUNCT
iiclr-27370	265	42	citibank	citibank	PROPN
iiclr-27370	265	43	spent	spend	VERB
iiclr-27370	265	44	$	$	SYM
iiclr-27370	265	45	3.4	3.4	NUM
iiclr-27370	265	46	billion	billion	NUM
iiclr-27370	265	47	on	on	ADP
iiclr-27370	265	48	kyc	kyc	PROPN
iiclr-27370	265	49	compliance	compliance	NOUN
iiclr-27370	265	50	,	,	PUNCT
iiclr-27370	265	51	while	while	SCONJ
iiclr-27370	265	52	jpmorgan	jpmorgan	PROPN
iiclr-27370	265	53	chase	chase	PROPN
iiclr-27370	265	54	employed	employ	VERB
iiclr-27370	265	55	an	an	DET
iiclr-27370	265	56	additional	additional	ADJ
iiclr-27370	265	57	5,000	5,000	NUM
iiclr-27370	265	58	employees	employee	NOUN
iiclr-27370	265	59	and	and	CCONJ
iiclr-27370	265	60	spent	spend	VERB
iiclr-27370	265	61	an	an	DET
iiclr-27370	265	62	extra	extra	ADJ
iiclr-27370	265	63	$	$	SYM
iiclr-27370	265	64	1	1	NUM
iiclr-27370	265	65	billion	billion	NUM
iiclr-27370	265	66	in	in	ADP
iiclr-27370	265	67	order	order	NOUN
iiclr-27370	265	68	to	to	PART
iiclr-27370	265	69	comply	comply	VERB
iiclr-27370	265	70	with	with	ADP
iiclr-27370	265	71	these	these	DET
iiclr-27370	265	72	protocols.110	protocols.110	NOUN
iiclr-27370	265	73	c.	c.	NOUN
iiclr-27370	265	74	the	the	DET
iiclr-27370	265	75	cftc	cftc	PROPN
iiclr-27370	265	76	the	the	DET
iiclr-27370	265	77	cftc	cftc	PROPN
iiclr-27370	265	78	has	have	AUX
iiclr-27370	265	79	defined	define	VERB
iiclr-27370	265	80	virtual	virtual	ADJ
iiclr-27370	265	81	currencies	currency	NOUN
iiclr-27370	265	82	as	as	ADP
iiclr-27370	265	83	a	a	DET
iiclr-27370	265	84	commodity	commodity	NOUN
iiclr-27370	265	85	,	,	PUNCT
iiclr-27370	265	86	which	which	PRON
iiclr-27370	265	87	the	the	DET
iiclr-27370	265	88	agency	agency	NOUN
iiclr-27370	265	89	defines	define	VERB
iiclr-27370	265	90	as	as	ADP
iiclr-27370	265	91	“	"	PUNCT
iiclr-27370	265	92	all	all	DET
iiclr-27370	265	93	services	service	NOUN
iiclr-27370	265	94	,	,	PUNCT
iiclr-27370	265	95	rights	right	NOUN
iiclr-27370	265	96	,	,	PUNCT
iiclr-27370	265	97	and	and	CCONJ
iiclr-27370	265	98	interests	interest	NOUN
iiclr-27370	265	99	in	in	ADP
iiclr-27370	265	100	which	which	PRON
iiclr-27370	265	101	contracts	contract	NOUN
iiclr-27370	265	102	for	for	ADP
iiclr-27370	265	103	future	future	ADJ
iiclr-27370	265	104	delivery	delivery	NOUN
iiclr-27370	265	105	are	be	AUX
iiclr-27370	265	106	presently	presently	ADV
iiclr-27370	265	107	or	or	CCONJ
iiclr-27370	265	108	in	in	ADP
iiclr-27370	265	109	the	the	DET
iiclr-27370	265	110	future	future	NOUN
iiclr-27370	265	111	dealt	deal	VERB
iiclr-27370	265	112	in	in	ADV
iiclr-27370	265	113	.	.	PUNCT
iiclr-27370	265	114	”111	”111	PROPN
iiclr-27370	266	1	the	the	DET
iiclr-27370	266	2	cftc	cftc	PROPN
iiclr-27370	266	3	has	have	AUX
iiclr-27370	266	4	been	be	AUX
iiclr-27370	266	5	active	active	ADJ
iiclr-27370	266	6	in	in	ADP
iiclr-27370	266	7	promulgating	promulgate	VERB
iiclr-27370	266	8	and	and	CCONJ
iiclr-27370	266	9	enforcing	enforce	VERB
iiclr-27370	266	10	cryptocurrency	cryptocurrency	NOUN
iiclr-27370	266	11	regulations	regulation	NOUN
iiclr-27370	266	12	,	,	PUNCT
iiclr-27370	266	13	and	and	CCONJ
iiclr-27370	266	14	specifically	specifically	ADV
iiclr-27370	266	15	aims	aim	VERB
iiclr-27370	266	16	to	to	PART
iiclr-27370	266	17	regulate	regulate	VERB
iiclr-27370	266	18	exchanges	exchange	NOUN
iiclr-27370	266	19	that	that	PRON
iiclr-27370	266	20	offer	offer	VERB
iiclr-27370	266	21	cryptocurrency	cryptocurrency	NOUN
iiclr-27370	266	22	derivatives	derivative	NOUN
iiclr-27370	266	23	contracts.112	contracts.112	ADJ
iiclr-27370	266	24	this	this	DET
iiclr-27370	266	25	regulation	regulation	NOUN
iiclr-27370	266	26	is	be	AUX
iiclr-27370	266	27	triggered	trigger	VERB
iiclr-27370	266	28	primarily	primarily	ADV
iiclr-27370	266	29	in	in	ADP
iiclr-27370	266	30	the	the	DET
iiclr-27370	266	31	context	context	NOUN
iiclr-27370	266	32	of	of	ADP
iiclr-27370	266	33	leveraged	leveraged	ADJ
iiclr-27370	266	34	trading	trading	NOUN
iiclr-27370	266	35	and	and	CCONJ
iiclr-27370	266	36	futures	future	NOUN
iiclr-27370	266	37	contracts	contract	NOUN
iiclr-27370	266	38	on	on	ADP
iiclr-27370	266	39	bitcoin.113	bitcoin.113	NOUN
iiclr-27370	266	40	further	far	ADV
iiclr-27370	266	41	,	,	PUNCT
iiclr-27370	266	42	under	under	ADP
iiclr-27370	266	43	cftc	cftc	PROPN
iiclr-27370	266	44	regulations	regulation	NOUN
iiclr-27370	266	45	,	,	PUNCT
iiclr-27370	266	46	american	american	ADJ
iiclr-27370	266	47	retail	retail	ADJ
iiclr-27370	266	48	investors	investor	NOUN
iiclr-27370	266	49	are	be	AUX
iiclr-27370	266	50	permitted	permit	VERB
iiclr-27370	266	51	to	to	PART
iiclr-27370	266	52	purchase	purchase	VERB
iiclr-27370	266	53	leveraged	leveraged	ADJ
iiclr-27370	266	54	or	or	CCONJ
iiclr-27370	266	55	margined	margine	VERB
iiclr-27370	266	56	derivative	derivative	ADJ
iiclr-27370	266	57	products	product	NOUN
iiclr-27370	266	58	on	on	ADP
iiclr-27370	266	59	regulated	regulated	ADJ
iiclr-27370	266	60	exchanges	exchange	NOUN
iiclr-27370	266	61	only	only	ADV
iiclr-27370	266	62	and	and	CCONJ
iiclr-27370	266	63	prohibited	prohibit	VERB
iiclr-27370	266	64	from	from	ADP
iiclr-27370	266	65	purchasing	purchase	VERB
iiclr-27370	266	66	them	they	PRON
iiclr-27370	266	67	elsewhere.114	elsewhere.114	NOUN
iiclr-27370	266	68	the	the	DET
iiclr-27370	266	69	cftc	cftc	PROPN
iiclr-27370	266	70	began	begin	VERB
iiclr-27370	266	71	regulating	regulate	VERB
iiclr-27370	266	72	cryptocurrency	cryptocurrency	NOUN
iiclr-27370	266	73	after	after	SCONJ
iiclr-27370	266	74	terraexchange	terraexchange	NOUN
iiclr-27370	266	75	announced	announce	VERB
iiclr-27370	266	76	plans	plan	NOUN
iiclr-27370	266	77	to	to	PART
iiclr-27370	266	78	issue	issue	VERB
iiclr-27370	266	79	a	a	DET
iiclr-27370	266	80	swap	swap	NOUN
iiclr-27370	266	81	product	product	NOUN
iiclr-27370	266	82	based	base	VERB
iiclr-27370	266	83	on	on	ADP
iiclr-27370	266	84	bitcoin	bitcoin	NOUN
iiclr-27370	266	85	in	in	ADP
iiclr-27370	266	86	2013.115	2013.115	PROPN
iiclr-27370	266	87	the	the	DET
iiclr-27370	266	88	cftc	cftc	PROPN
iiclr-27370	266	89	gave	give	VERB
iiclr-27370	266	90	temporary	temporary	ADJ
iiclr-27370	266	91	approval	approval	NOUN
iiclr-27370	266	92	to	to	PART
iiclr-27370	266	93	terraexchange	terraexchange	VERB
iiclr-27370	266	94	to	to	PART
iiclr-27370	266	95	do	do	VERB
iiclr-27370	266	96	this	this	PRON
iiclr-27370	266	97	,	,	PUNCT
iiclr-27370	266	98	but	but	CCONJ
iiclr-27370	266	99	subsequently	subsequently	ADV
iiclr-27370	266	100	issued	issue	VERB
iiclr-27370	266	101	a	a	DET
iiclr-27370	266	102	ceaseand	ceaseand	NOUN
iiclr-27370	266	103	-	-	PUNCT
iiclr-27370	266	104	desist	desist	NOUN
iiclr-27370	266	105	letter	letter	NOUN
iiclr-27370	266	106	to	to	ADP
iiclr-27370	266	107	the	the	DET
iiclr-27370	266	108	exchange	exchange	NOUN
iiclr-27370	266	109	when	when	SCONJ
iiclr-27370	266	110	it	it	PRON
iiclr-27370	266	111	was	be	AUX
iiclr-27370	266	112	determined	determine	VERB
iiclr-27370	266	113	that	that	SCONJ
iiclr-27370	266	114	their	their	PRON
iiclr-27370	266	115	swap	swap	NOUN
iiclr-27370	266	116	market	market	NOUN
iiclr-27370	266	117	had	have	AUX
iiclr-27370	266	118	prearranged	prearrange	VERB
iiclr-27370	266	119	“	"	PUNCT
iiclr-27370	266	120	wash	wash	NOUN
iiclr-27370	266	121	”	"	PUNCT
iiclr-27370	266	122	trades	trade	NOUN
iiclr-27370	266	123	,	,	PUNCT
iiclr-27370	266	124	which	which	PRON
iiclr-27370	266	125	inaccurately	inaccurately	ADV
iiclr-27370	266	126	portrayed	portray	VERB
iiclr-27370	266	127	the	the	DET
iiclr-27370	266	128	liquidity	liquidity	NOUN
iiclr-27370	266	129	of	of	ADP
iiclr-27370	266	130	the	the	DET
iiclr-27370	266	131	exchange.116	exchange.116	PROPN
iiclr-27370	266	132	similarly	similarly	ADV
iiclr-27370	266	133	,	,	PUNCT
iiclr-27370	266	134	in	in	ADP
iiclr-27370	266	135	2015	2015	NUM
iiclr-27370	266	136	,	,	PUNCT
iiclr-27370	266	137	the	the	DET
iiclr-27370	266	138	cftc	cftc	PROPN
iiclr-27370	266	139	used	use	VERB
iiclr-27370	266	140	its	its	PRON
iiclr-27370	266	141	regulatory	regulatory	ADJ
iiclr-27370	266	142	powers	power	NOUN
iiclr-27370	266	143	to	to	PART
iiclr-27370	266	144	prevent	prevent	VERB
iiclr-27370	266	145	coinflip	coinflip	NOUN
iiclr-27370	266	146	incorporated	incorporate	VERB
iiclr-27370	266	147	from	from	ADP
iiclr-27370	266	148	improperly	improperly	ADV
iiclr-27370	266	149	offering	offer	VERB
iiclr-27370	266	150	commodity	commodity	NOUN
iiclr-27370	266	151	option	option	NOUN
iiclr-27370	266	152	transactions	transaction	NOUN
iiclr-27370	266	153	on	on	ADP
iiclr-27370	266	154	cryptocurrency	cryptocurrency	NOUN
iiclr-27370	266	155	on	on	ADP
iiclr-27370	266	156	the	the	DET
iiclr-27370	266	157	company	company	NOUN
iiclr-27370	266	158	ceo	ceo	NOUN
iiclr-27370	266	159	’s	’s	PART
iiclr-27370	266	160	personal	personal	ADJ
iiclr-27370	266	161	platform	platform	NOUN
iiclr-27370	266	162	,	,	PUNCT
iiclr-27370	266	163	derivabit.117	derivabit.117	VERB
iiclr-27370	266	164	in	in	ADP
iiclr-27370	266	165	2016	2016	NUM
iiclr-27370	266	166	,	,	PUNCT
iiclr-27370	266	167	the	the	DET
iiclr-27370	266	168	cftc	cftc	PROPN
iiclr-27370	266	169	exercised	exercise	VERB
iiclr-27370	266	170	its	its	PRON
iiclr-27370	266	171	regulatory	regulatory	ADJ
iiclr-27370	266	172	powers	power	NOUN
iiclr-27370	266	173	once	once	ADV
iiclr-27370	266	174	again	again	ADV
iiclr-27370	266	175	,	,	PUNCT
iiclr-27370	266	176	this	this	DET
iiclr-27370	266	177	time	time	NOUN
iiclr-27370	266	178	108	108	NUM
iiclr-27370	266	179	.	.	PUNCT
iiclr-27370	267	1	i	i	PRON
iiclr-27370	267	2	d.	d.	PROPN
iiclr-27370	267	3	at	at	ADP
iiclr-27370	267	4	854	854	NUM
iiclr-27370	267	5	.	.	PUNCT
iiclr-27370	267	6	109	109	NUM
iiclr-27370	267	7	.	.	PUNCT
iiclr-27370	268	1	i	i	PRON
iiclr-27370	268	2	d.	d.	PROPN
iiclr-27370	268	3	at	at	ADP
iiclr-27370	268	4	855	855	NUM
iiclr-27370	268	5	(	(	PUNCT
iiclr-27370	268	6	“	"	PUNCT
iiclr-27370	268	7	[	[	X
iiclr-27370	268	8	t]he	t]he	ADJ
iiclr-27370	268	9	costs	cost	NOUN
iiclr-27370	268	10	of	of	ADP
iiclr-27370	268	11	keeping	keep	VERB
iiclr-27370	268	12	up	up	ADP
iiclr-27370	268	13	with	with	ADP
iiclr-27370	268	14	these	these	PRON
iiclr-27370	268	15	[	[	X
iiclr-27370	268	16	kyc	kyc	X
iiclr-27370	268	17	]	]	X
iiclr-27370	268	18	protocols	protocol	NOUN
iiclr-27370	268	19	increase	increase	VERB
iiclr-27370	268	20	year	year	NOUN
iiclr-27370	268	21	by	by	ADP
iiclr-27370	268	22	year	year	NOUN
iiclr-27370	268	23	.	.	PUNCT
iiclr-27370	269	1	ten	ten	NUM
iiclr-27370	269	2	percent	percent	NOUN
iiclr-27370	269	3	of	of	ADP
iiclr-27370	269	4	the	the	DET
iiclr-27370	269	5	top	top	ADJ
iiclr-27370	269	6	financial	financial	ADJ
iiclr-27370	269	7	institutions	institution	NOUN
iiclr-27370	269	8	in	in	ADP
iiclr-27370	269	9	the	the	DET
iiclr-27370	269	10	world	world	NOUN
iiclr-27370	269	11	are	be	AUX
iiclr-27370	269	12	spending	spend	VERB
iiclr-27370	269	13	more	more	ADJ
iiclr-27370	269	14	than	than	ADP
iiclr-27370	269	15	$	$	SYM
iiclr-27370	269	16	100	100	NUM
iiclr-27370	269	17	million	million	NUM
iiclr-27370	269	18	per	per	ADP
iiclr-27370	269	19	year	year	NOUN
iiclr-27370	269	20	,	,	PUNCT
iiclr-27370	269	21	with	with	ADP
iiclr-27370	269	22	the	the	DET
iiclr-27370	269	23	average	average	ADJ
iiclr-27370	269	24	institution	institution	NOUN
iiclr-27370	269	25	spending	spend	VERB
iiclr-27370	269	26	around	around	ADP
iiclr-27370	269	27	$	$	SYM
iiclr-27370	269	28	48	48	NUM
iiclr-27370	269	29	million	million	NUM
iiclr-27370	269	30	a	a	DET
iiclr-27370	269	31	year	year	NOUN
iiclr-27370	269	32	,	,	PUNCT
iiclr-27370	269	33	including	include	VERB
iiclr-27370	269	34	labor	labor	NOUN
iiclr-27370	269	35	and	and	CCONJ
iiclr-27370	269	36	thirdparty	thirdparty	NOUN
iiclr-27370	269	37	costs	cost	NOUN
iiclr-27370	269	38	.	.	PUNCT
iiclr-27370	269	39	”	"	PUNCT
iiclr-27370	269	40	)	)	PUNCT
iiclr-27370	269	41	.	.	PUNCT
iiclr-27370	270	1	110	110	NUM
iiclr-27370	270	2	.	.	PUNCT
iiclr-27370	271	1	i	i	PRON
iiclr-27370	271	2	d.	d.	PROPN
iiclr-27370	271	3	at	at	ADP
iiclr-27370	271	4	855	855	NUM
iiclr-27370	271	5	-	-	SYM
iiclr-27370	271	6	56	56	NUM
iiclr-27370	271	7	.	.	NOUN
iiclr-27370	271	8	111	111	NUM
iiclr-27370	271	9	.	.	PUNCT
iiclr-27370	272	1	scott	scott	PROPN
iiclr-27370	272	2	d.	d.	PROPN
iiclr-27370	272	3	hughes	hughes	PROPN
iiclr-27370	272	4	,	,	PUNCT
iiclr-27370	272	5	cryptocurrency	cryptocurrency	NOUN
iiclr-27370	272	6	regulations	regulation	NOUN
iiclr-27370	272	7	and	and	CCONJ
iiclr-27370	272	8	enforcement	enforcement	NOUN
iiclr-27370	272	9	in	in	ADP
iiclr-27370	272	10	the	the	DET
iiclr-27370	272	11	u.s	u.s	PROPN
iiclr-27370	272	12	.	.	PROPN
iiclr-27370	272	13	,	,	PUNCT
iiclr-27370	272	14	45	45	NUM
iiclr-27370	272	15	w.	w.	PROPN
iiclr-27370	272	16	st	st	PROPN
iiclr-27370	272	17	.	.	PROPN
iiclr-27370	272	18	l.	l.	PROPN
iiclr-27370	272	19	rev	rev	PROPN
iiclr-27370	272	20	.	.	PROPN
iiclr-27370	272	21	1	1	NUM
iiclr-27370	272	22	,	,	PUNCT
iiclr-27370	272	23	7	7	NUM
iiclr-27370	272	24	(	(	PUNCT
iiclr-27370	272	25	2017	2017	NUM
iiclr-27370	272	26	)	)	PUNCT
iiclr-27370	272	27	.	.	PUNCT
iiclr-27370	273	1	112	112	NUM
iiclr-27370	273	2	.	.	PUNCT
iiclr-27370	274	1	i	i	PRON
iiclr-27370	274	2	d.	d.	PROPN
iiclr-27370	274	3	113	113	NUM
iiclr-27370	274	4	.	.	PUNCT
iiclr-27370	275	1	i	i	PRON
iiclr-27370	275	2	d.	d.	PROPN
iiclr-27370	275	3	114	114	NUM
iiclr-27370	275	4	.	.	PUNCT
iiclr-27370	276	1	i	i	PRON
iiclr-27370	276	2	d.	d.	PROPN
iiclr-27370	276	3	115	115	NUM
iiclr-27370	276	4	.	.	PUNCT
iiclr-27370	277	1	i	i	PRON
iiclr-27370	277	2	d.	d.	PROPN
iiclr-27370	277	3	;	;	PUNCT
iiclr-27370	277	4	about	about	ADV
iiclr-27370	277	5	,	,	PUNCT
iiclr-27370	277	6	terraswap	terraswap	ADJ
iiclr-27370	277	7	,	,	PUNCT
iiclr-27370	277	8	(	(	PUNCT
iiclr-27370	277	9	dec	dec	PROPN
iiclr-27370	277	10	.	.	PROPN
iiclr-27370	277	11	7	7	NUM
iiclr-27370	277	12	,	,	PUNCT
iiclr-27370	277	13	2021	2021	NUM
iiclr-27370	277	14	)	)	PUNCT
iiclr-27370	277	15	,	,	PUNCT
iiclr-27370	277	16	https://docs.terraswap.io/#:~:text=terraswap%	https://docs.terraswap.io/#:~:text=terraswap%	NOUN
iiclr-27370	277	17	20is%20a%20uniswap%2dinspired	20is%20a%20uniswap%2dinspired	NUM
iiclr-27370	277	18	,	,	PUNCT
iiclr-27370	277	19	assets%20involved%20in%20terra%20ecosystem	assets%20involved%20in%20terra%20ecosystem	NOUN
iiclr-27370	278	1	[	[	X
iiclr-27370	278	2	https://perma.cc/p9ny-mxbm	https://perma.cc/p9ny-mxbm	ADV
iiclr-27370	278	3	]	]	X
iiclr-27370	278	4	(	(	PUNCT
iiclr-27370	278	5	explaining	explain	VERB
iiclr-27370	278	6	that	that	SCONJ
iiclr-27370	278	7	terraswap	terraswap	ADJ
iiclr-27370	278	8	,	,	PUNCT
iiclr-27370	278	9	or	or	CCONJ
iiclr-27370	278	10	terraexchange	terraexchange	NOUN
iiclr-27370	278	11	,	,	PUNCT
iiclr-27370	278	12	is	be	AUX
iiclr-27370	278	13	an	an	DET
iiclr-27370	278	14	“	"	PUNCT
iiclr-27370	278	15	automated	automate	VERB
iiclr-27370	278	16	market	market	NOUN
iiclr-27370	278	17	-	-	PUNCT
iiclr-27370	278	18	maker	maker	NOUN
iiclr-27370	278	19	(	(	PUNCT
iiclr-27370	278	20	amm	amm	PROPN
iiclr-27370	278	21	)	)	PUNCT
iiclr-27370	278	22	protocol	protocol	NOUN
iiclr-27370	278	23	implemented	implement	VERB
iiclr-27370	278	24	with	with	ADP
iiclr-27370	278	25	smart	smart	ADJ
iiclr-27370	278	26	contracts	contract	NOUN
iiclr-27370	278	27	on	on	ADP
iiclr-27370	278	28	the	the	DET
iiclr-27370	278	29	terra	terra	NOUN
iiclr-27370	278	30	blockchain	blockchain	NOUN
iiclr-27370	278	31	”	"	PUNCT
iiclr-27370	278	32	)	)	PUNCT
iiclr-27370	278	33	.	.	PUNCT
iiclr-27370	279	1	116	116	NUM
iiclr-27370	279	2	.	.	PUNCT
iiclr-27370	280	1	in	in	ADP
iiclr-27370	280	2	re	re	PROPN
iiclr-27370	280	3	terraexchange	terraexchange	PROPN
iiclr-27370	280	4	llc	llc	PROPN
iiclr-27370	280	5	,	,	PUNCT
iiclr-27370	280	6	cftc	cftc	PROPN
iiclr-27370	280	7	no	no	PROPN
iiclr-27370	280	8	.	.	PROPN
iiclr-27370	281	1	15	15	NUM
iiclr-27370	281	2	-	-	SYM
iiclr-27370	281	3	33	33	NUM
iiclr-27370	281	4	,	,	PUNCT
iiclr-27370	281	5	2015	2015	NUM
iiclr-27370	281	6	wl	wl	NOUN
iiclr-27370	281	7	5658082	5658082	NUM
iiclr-27370	281	8	(	(	PUNCT
iiclr-27370	281	9	sep	sep	PROPN
iiclr-27370	281	10	.	.	PROPN
iiclr-27370	281	11	24	24	NUM
iiclr-27370	281	12	,	,	PUNCT
iiclr-27370	281	13	2015	2015	NUM
iiclr-27370	281	14	)	)	PUNCT
iiclr-27370	281	15	.	.	PUNCT
iiclr-27370	282	1	117	117	NUM
iiclr-27370	282	2	.	.	PUNCT
iiclr-27370	283	1	in	in	ADP
iiclr-27370	283	2	re	re	PROPN
iiclr-27370	283	3	coinflip	coinflip	PROPN
iiclr-27370	283	4	,	,	PUNCT
iiclr-27370	283	5	inc	inc	PROPN
iiclr-27370	283	6	.	.	PROPN
iiclr-27370	283	7	,	,	PUNCT
iiclr-27370	283	8	d	d	X
iiclr-27370	283	9	/	/	SYM
iiclr-27370	283	10	b	b	NOUN
iiclr-27370	283	11	/	/	SYM
iiclr-27370	283	12	a	a	DET
iiclr-27370	283	13	derivabit	derivabit	NOUN
iiclr-27370	283	14	,	,	PUNCT
iiclr-27370	283	15	and	and	CCONJ
iiclr-27370	283	16	francisco	francisco	PROPN
iiclr-27370	283	17	riordan	riordan	PROPN
iiclr-27370	283	18	,	,	PUNCT
iiclr-27370	283	19	cftc	cftc	PROPN
iiclr-27370	283	20	no	no	PROPN
iiclr-27370	283	21	.	.	PROPN
iiclr-27370	283	22	15	15	NUM
iiclr-27370	283	23	-	-	SYM
iiclr-27370	283	24	29	29	NUM
iiclr-27370	283	25	,	,	PUNCT
iiclr-27370	283	26	2015	2015	NUM
iiclr-27370	283	27	wl	wl	NOUN
iiclr-27370	283	28	5535736	5535736	NUM
iiclr-27370	283	29	(	(	PUNCT
iiclr-27370	283	30	sep	sep	PROPN
iiclr-27370	283	31	.	.	PROPN
iiclr-27370	283	32	17	17	NUM
iiclr-27370	283	33	,	,	PUNCT
iiclr-27370	283	34	2015	2015	NUM
iiclr-27370	283	35	)	)	PUNCT
iiclr-27370	283	36	.	.	PUNCT
iiclr-27370	284	1	2023	2023	NUM
iiclr-27370	284	2	]	]	PUNCT
iiclr-27370	284	3	the	the	DET
iiclr-27370	284	4	wild	wild	ADJ
iiclr-27370	284	5	west	west	NOUN
iiclr-27370	284	6	,	,	PUNCT
iiclr-27370	284	7	cryptocurrency	cryptocurrency	NOUN
iiclr-27370	284	8	,	,	PUNCT
iiclr-27370	284	9	and	and	CCONJ
iiclr-27370	284	10	singapore	singapore	PROPN
iiclr-27370	284	11	205	205	NUM
iiclr-27370	284	12	charging	charge	VERB
iiclr-27370	284	13	bitfinex	bitfinex	ADV
iiclr-27370	284	14	for	for	ADP
iiclr-27370	284	15	failing	fail	VERB
iiclr-27370	284	16	to	to	PART
iiclr-27370	284	17	register	register	VERB
iiclr-27370	284	18	with	with	ADP
iiclr-27370	284	19	the	the	DET
iiclr-27370	284	20	cftc	cftc	PROPN
iiclr-27370	284	21	despite	despite	SCONJ
iiclr-27370	284	22	allowing	allow	VERB
iiclr-27370	284	23	customers	customer	NOUN
iiclr-27370	284	24	to	to	PART
iiclr-27370	284	25	trade	trade	VERB
iiclr-27370	284	26	bitcoin.118	bitcoin.118	NOUN
iiclr-27370	284	27	this	this	DET
iiclr-27370	284	28	regulatory	regulatory	ADJ
iiclr-27370	284	29	action	action	NOUN
iiclr-27370	284	30	drew	draw	VERB
iiclr-27370	284	31	contention	contention	NOUN
iiclr-27370	284	32	from	from	ADP
iiclr-27370	284	33	exchanges	exchange	NOUN
iiclr-27370	284	34	that	that	PRON
iiclr-27370	284	35	believed	believe	VERB
iiclr-27370	284	36	the	the	DET
iiclr-27370	284	37	cftc	cftc	PROPN
iiclr-27370	284	38	was	be	AUX
iiclr-27370	284	39	misusing	misuse	VERB
iiclr-27370	284	40	its	its	PRON
iiclr-27370	284	41	power.119	power.119	ADJ
iiclr-27370	284	42	critics	critic	NOUN
iiclr-27370	284	43	of	of	ADP
iiclr-27370	284	44	this	this	DET
iiclr-27370	284	45	action	action	NOUN
iiclr-27370	284	46	claimed	claim	VERB
iiclr-27370	284	47	that	that	SCONJ
iiclr-27370	284	48	bitfinex	bitfinex	PROPN
iiclr-27370	284	49	’s	’s	PART
iiclr-27370	284	50	sale	sale	NOUN
iiclr-27370	284	51	of	of	ADP
iiclr-27370	284	52	bitcoin	bitcoin	NOUN
iiclr-27370	284	53	was	be	AUX
iiclr-27370	284	54	not	not	PART
iiclr-27370	284	55	subject	subject	ADJ
iiclr-27370	284	56	to	to	ADP
iiclr-27370	284	57	regulation	regulation	NOUN
iiclr-27370	284	58	by	by	ADP
iiclr-27370	284	59	the	the	DET
iiclr-27370	284	60	cftc	cftc	PROPN
iiclr-27370	284	61	because	because	SCONJ
iiclr-27370	284	62	traders	trader	NOUN
iiclr-27370	284	63	were	be	AUX
iiclr-27370	284	64	“	"	PUNCT
iiclr-27370	284	65	making	make	VERB
iiclr-27370	284	66	and	and	CCONJ
iiclr-27370	284	67	taking	take	VERB
iiclr-27370	284	68	delivery	delivery	NOUN
iiclr-27370	284	69	”	"	PUNCT
iiclr-27370	284	70	by	by	ADP
iiclr-27370	284	71	buying	buy	VERB
iiclr-27370	284	72	bitcoin	bitcoin	NOUN
iiclr-27370	284	73	from	from	ADP
iiclr-27370	284	74	the	the	DET
iiclr-27370	284	75	exchange	exchange	NOUN
iiclr-27370	284	76	and	and	CCONJ
iiclr-27370	284	77	transferring	transfer	VERB
iiclr-27370	284	78	it	it	PRON
iiclr-27370	284	79	into	into	ADP
iiclr-27370	284	80	their	their	PRON
iiclr-27370	284	81	personal	personal	ADJ
iiclr-27370	284	82	bitcoin	bitcoin	NOUN
iiclr-27370	284	83	wallets.120	wallets.120	NOUN
iiclr-27370	284	84	thus	thus	ADV
iiclr-27370	284	85	,	,	PUNCT
iiclr-27370	284	86	this	this	DET
iiclr-27370	284	87	regulatory	regulatory	ADJ
iiclr-27370	284	88	action	action	NOUN
iiclr-27370	284	89	drew	draw	VERB
iiclr-27370	284	90	ire	ire	NOUN
iiclr-27370	284	91	from	from	ADP
iiclr-27370	284	92	those	those	PRON
iiclr-27370	284	93	who	who	PRON
iiclr-27370	284	94	pointed	point	VERB
iiclr-27370	284	95	to	to	ADP
iiclr-27370	284	96	the	the	DET
iiclr-27370	284	97	fact	fact	NOUN
iiclr-27370	284	98	that	that	SCONJ
iiclr-27370	284	99	the	the	DET
iiclr-27370	284	100	cftc	cftc	PROPN
iiclr-27370	284	101	’s	’s	PART
iiclr-27370	284	102	authority	authority	NOUN
iiclr-27370	284	103	only	only	ADV
iiclr-27370	284	104	applies	apply	VERB
iiclr-27370	284	105	to	to	ADP
iiclr-27370	284	106	private	private	ADJ
iiclr-27370	284	107	trades	trade	NOUN
iiclr-27370	284	108	that	that	PRON
iiclr-27370	284	109	involve	involve	VERB
iiclr-27370	284	110	a	a	DET
iiclr-27370	284	111	delivery	delivery	NOUN
iiclr-27370	284	112	taking	take	VERB
iiclr-27370	284	113	place	place	NOUN
iiclr-27370	284	114	twenty	twenty	NUM
iiclr-27370	284	115	-	-	PUNCT
iiclr-27370	284	116	eight	eight	NUM
iiclr-27370	284	117	days	day	NOUN
iiclr-27370	284	118	or	or	CCONJ
iiclr-27370	284	119	more	more	ADJ
iiclr-27370	284	120	from	from	ADP
iiclr-27370	284	121	the	the	DET
iiclr-27370	284	122	time	time	NOUN
iiclr-27370	284	123	of	of	ADP
iiclr-27370	284	124	agreement.121	agreement.121	NOUN
iiclr-27370	284	125	however	however	ADV
iiclr-27370	284	126	,	,	PUNCT
iiclr-27370	284	127	the	the	DET
iiclr-27370	284	128	cftc	cftc	PROPN
iiclr-27370	284	129	clarified	clarify	VERB
iiclr-27370	284	130	,	,	PUNCT
iiclr-27370	284	131	exchanges	exchange	NOUN
iiclr-27370	284	132	do	do	AUX
iiclr-27370	284	133	not	not	PART
iiclr-27370	284	134	make	make	VERB
iiclr-27370	284	135	a	a	DET
iiclr-27370	284	136	full	full	ADJ
iiclr-27370	284	137	delivery	delivery	NOUN
iiclr-27370	284	138	to	to	ADP
iiclr-27370	284	139	traders	trader	NOUN
iiclr-27370	284	140	because	because	SCONJ
iiclr-27370	284	141	of	of	ADP
iiclr-27370	284	142	the	the	DET
iiclr-27370	284	143	technological	technological	ADJ
iiclr-27370	284	144	specifications	specification	NOUN
iiclr-27370	284	145	of	of	ADP
iiclr-27370	284	146	bitcoin	bitcoin	ADJ
iiclr-27370	284	147	wallets	wallet	NOUN
iiclr-27370	284	148	—	—	PUNCT
iiclr-27370	284	149	in	in	ADP
iiclr-27370	284	150	this	this	DET
iiclr-27370	284	151	case	case	NOUN
iiclr-27370	284	152	,	,	PUNCT
iiclr-27370	284	153	bitfinex	bitfinex	PROPN
iiclr-27370	284	154	controlled	control	VERB
iiclr-27370	284	155	the	the	DET
iiclr-27370	284	156	private	private	ADJ
iiclr-27370	284	157	keys	key	NOUN
iiclr-27370	284	158	of	of	ADP
iiclr-27370	284	159	the	the	DET
iiclr-27370	284	160	bitcoin	bitcoin	ADJ
iiclr-27370	284	161	wallets	wallet	NOUN
iiclr-27370	284	162	,	,	PUNCT
iiclr-27370	284	163	and	and	CCONJ
iiclr-27370	284	164	therefore	therefore	ADV
iiclr-27370	284	165	had	have	AUX
iiclr-27370	284	166	not	not	PART
iiclr-27370	284	167	fully	fully	ADV
iiclr-27370	284	168	delivered	deliver	VERB
iiclr-27370	284	169	the	the	DET
iiclr-27370	284	170	coins	coin	NOUN
iiclr-27370	284	171	to	to	ADP
iiclr-27370	284	172	the	the	DET
iiclr-27370	284	173	traders	trader	NOUN
iiclr-27370	284	174	who	who	PRON
iiclr-27370	284	175	had	have	AUX
iiclr-27370	284	176	purchased	purchase	VERB
iiclr-27370	284	177	them.122	them.122	NOUN
iiclr-27370	284	178	to	to	PART
iiclr-27370	284	179	further	far	ADV
iiclr-27370	284	180	clarify	clarify	VERB
iiclr-27370	284	181	the	the	DET
iiclr-27370	284	182	expansiveness	expansiveness	NOUN
iiclr-27370	284	183	of	of	ADP
iiclr-27370	284	184	their	their	PRON
iiclr-27370	284	185	regulatory	regulatory	ADJ
iiclr-27370	284	186	powers	power	NOUN
iiclr-27370	284	187	,	,	PUNCT
iiclr-27370	284	188	the	the	DET
iiclr-27370	284	189	cftc	cftc	PROPN
iiclr-27370	284	190	stated	state	VERB
iiclr-27370	284	191	that	that	SCONJ
iiclr-27370	284	192	“	"	PUNCT
iiclr-27370	284	193	any	any	DET
iiclr-27370	284	194	financed	finance	VERB
iiclr-27370	284	195	retail	retail	ADJ
iiclr-27370	284	196	transaction	transaction	NOUN
iiclr-27370	284	197	”	"	PUNCT
iiclr-27370	284	198	is	be	AUX
iiclr-27370	284	199	grounds	ground	NOUN
iiclr-27370	284	200	for	for	ADP
iiclr-27370	284	201	cftc	cftc	PROPN
iiclr-27370	284	202	supervision.123	supervision.123	NOUN
iiclr-27370	284	203	therefore	therefore	ADV
iiclr-27370	284	204	,	,	PUNCT
iiclr-27370	284	205	any	any	DET
iiclr-27370	284	206	margined	margined	ADJ
iiclr-27370	284	207	or	or	CCONJ
iiclr-27370	284	208	leveraged	leveraged	ADJ
iiclr-27370	284	209	spot	spot	NOUN
iiclr-27370	284	210	trade	trade	NOUN
iiclr-27370	284	211	of	of	ADP
iiclr-27370	284	212	cryptocurrency	cryptocurrency	NOUN
iiclr-27370	284	213	is	be	AUX
iiclr-27370	284	214	subject	subject	ADJ
iiclr-27370	284	215	to	to	ADP
iiclr-27370	284	216	regulation	regulation	NOUN
iiclr-27370	284	217	by	by	ADP
iiclr-27370	284	218	the	the	DET
iiclr-27370	284	219	cftc	cftc	PROPN
iiclr-27370	284	220	.	.	PUNCT
iiclr-27370	285	1	d.	d.	PROPN
iiclr-27370	285	2	state	state	PROPN
iiclr-27370	285	3	approaches	approach	VERB
iiclr-27370	285	4	to	to	PART
iiclr-27370	285	5	muddy	muddy	VERB
iiclr-27370	285	6	the	the	DET
iiclr-27370	285	7	waters	water	NOUN
iiclr-27370	285	8	even	even	ADV
iiclr-27370	285	9	further	far	ADV
iiclr-27370	285	10	,	,	PUNCT
iiclr-27370	285	11	the	the	DET
iiclr-27370	285	12	united	united	PROPN
iiclr-27370	285	13	states	states	PROPN
iiclr-27370	285	14	has	have	VERB
iiclr-27370	285	15	yet	yet	ADV
iiclr-27370	285	16	to	to	PART
iiclr-27370	285	17	exercise	exercise	VERB
iiclr-27370	285	18	its	its	PRON
iiclr-27370	285	19	federal	federal	ADJ
iiclr-27370	285	20	preemptive	preemptive	ADJ
iiclr-27370	285	21	powers	power	NOUN
iiclr-27370	285	22	to	to	PART
iiclr-27370	285	23	exclude	exclude	VERB
iiclr-27370	285	24	states	state	NOUN
iiclr-27370	285	25	from	from	ADP
iiclr-27370	285	26	regulating	regulate	VERB
iiclr-27370	285	27	cryptocurrency	cryptocurrency	NOUN
iiclr-27370	285	28	.	.	PUNCT
iiclr-27370	286	1	as	as	ADP
iiclr-27370	286	2	of	of	ADP
iiclr-27370	286	3	2019	2019	NUM
iiclr-27370	286	4	,	,	PUNCT
iiclr-27370	286	5	thirty	thirty	NUM
iiclr-27370	286	6	-	-	PUNCT
iiclr-27370	286	7	two	two	NUM
iiclr-27370	286	8	out	out	ADP
iiclr-27370	286	9	of	of	ADP
iiclr-27370	286	10	fifty	fifty	NUM
iiclr-27370	286	11	states	state	NOUN
iiclr-27370	286	12	had	have	AUX
iiclr-27370	286	13	proposed	propose	VERB
iiclr-27370	286	14	legislation	legislation	NOUN
iiclr-27370	286	15	concerning	concern	VERB
iiclr-27370	286	16	cryptocurrency	cryptocurrency	NOUN
iiclr-27370	286	17	regulation.124	regulation.124	NOUN
iiclr-27370	287	1	one	one	NUM
iiclr-27370	287	2	such	such	ADJ
iiclr-27370	287	3	state	state	NOUN
iiclr-27370	287	4	regulatory	regulatory	ADJ
iiclr-27370	287	5	scheme	scheme	NOUN
iiclr-27370	287	6	was	be	AUX
iiclr-27370	287	7	promulgated	promulgate	VERB
iiclr-27370	287	8	by	by	ADP
iiclr-27370	287	9	the	the	DET
iiclr-27370	287	10	new	new	PROPN
iiclr-27370	287	11	york	york	PROPN
iiclr-27370	287	12	department	department	PROPN
iiclr-27370	287	13	of	of	ADP
iiclr-27370	287	14	financial	financial	ADJ
iiclr-27370	287	15	services	service	NOUN
iiclr-27370	287	16	in	in	ADP
iiclr-27370	287	17	2015.125	2015.125	NUM
iiclr-27370	287	18	this	this	DET
iiclr-27370	287	19	state	state	NOUN
iiclr-27370	287	20	regulation	regulation	NOUN
iiclr-27370	287	21	intends	intend	VERB
iiclr-27370	287	22	to	to	PART
iiclr-27370	287	23	provide	provide	VERB
iiclr-27370	287	24	licensing	licensing	NOUN
iiclr-27370	287	25	,	,	PUNCT
iiclr-27370	287	26	regulations	regulation	NOUN
iiclr-27370	287	27	,	,	PUNCT
iiclr-27370	287	28	and	and	CCONJ
iiclr-27370	287	29	consumer	consumer	NOUN
iiclr-27370	287	30	protection	protection	NOUN
iiclr-27370	287	31	for	for	ADP
iiclr-27370	287	32	cryptocurrency	cryptocurrency	NOUN
iiclr-27370	287	33	market	market	NOUN
iiclr-27370	287	34	participants.126	participants.126	NOUN
iiclr-27370	287	35	under	under	ADP
iiclr-27370	287	36	this	this	DET
iiclr-27370	287	37	regulatory	regulatory	ADJ
iiclr-27370	287	38	scheme	scheme	NOUN
iiclr-27370	287	39	,	,	PUNCT
iiclr-27370	287	40	new	new	PROPN
iiclr-27370	287	41	york	york	PROPN
iiclr-27370	287	42	views	view	VERB
iiclr-27370	287	43	cryptocurrency	cryptocurrency	NOUN
iiclr-27370	287	44	as	as	ADP
iiclr-27370	287	45	“	"	PUNCT
iiclr-27370	287	46	virtual	virtual	ADJ
iiclr-27370	287	47	currency	currency	NOUN
iiclr-27370	287	48	,	,	PUNCT
iiclr-27370	287	49	”	"	PUNCT
iiclr-27370	287	50	which	which	PRON
iiclr-27370	287	51	it	it	PRON
iiclr-27370	287	52	defines	define	VERB
iiclr-27370	287	53	as	as	ADP
iiclr-27370	287	54	“	"	PUNCT
iiclr-27370	287	55	any	any	DET
iiclr-27370	287	56	type	type	NOUN
iiclr-27370	287	57	of	of	ADP
iiclr-27370	287	58	digital	digital	ADJ
iiclr-27370	287	59	unit	unit	NOUN
iiclr-27370	287	60	that	that	PRON
iiclr-27370	287	61	is	be	AUX
iiclr-27370	287	62	used	use	VERB
iiclr-27370	287	63	as	as	ADP
iiclr-27370	287	64	a	a	DET
iiclr-27370	287	65	medium	medium	NOUN
iiclr-27370	287	66	of	of	ADP
iiclr-27370	287	67	exchange	exchange	NOUN
iiclr-27370	287	68	or	or	CCONJ
iiclr-27370	287	69	a	a	DET
iiclr-27370	287	70	form	form	NOUN
iiclr-27370	287	71	of	of	ADP
iiclr-27370	287	72	digitally	digitally	ADV
iiclr-27370	287	73	stored	store	VERB
iiclr-27370	287	74	value	value	NOUN
iiclr-27370	287	75	.	.	PUNCT
iiclr-27370	287	76	”127	”127	PUNCT
iiclr-27370	288	1	these	these	DET
iiclr-27370	288	2	rules	rule	NOUN
iiclr-27370	288	3	require	require	VERB
iiclr-27370	288	4	any	any	DET
iiclr-27370	288	5	new	new	ADJ
iiclr-27370	288	6	yorker	yorker	NOUN
iiclr-27370	288	7	whom	whom	PRON
iiclr-27370	288	8	the	the	DET
iiclr-27370	288	9	state	state	NOUN
iiclr-27370	288	10	deems	deem	VERB
iiclr-27370	288	11	to	to	PART
iiclr-27370	288	12	be	be	AUX
iiclr-27370	288	13	a	a	DET
iiclr-27370	288	14	participant	participant	NOUN
iiclr-27370	288	15	in	in	ADP
iiclr-27370	288	16	“	"	PUNCT
iiclr-27370	288	17	virtual	virtual	ADJ
iiclr-27370	288	18	currency	currency	NOUN
iiclr-27370	288	19	business	business	NOUN
iiclr-27370	288	20	activity	activity	NOUN
iiclr-27370	288	21	”	"	PUNCT
iiclr-27370	288	22	to	to	AUX
iiclr-27370	288	23	not	not	PART
iiclr-27370	288	24	only	only	ADV
iiclr-27370	288	25	obtain	obtain	VERB
iiclr-27370	288	26	a	a	DET
iiclr-27370	288	27	license	license	NOUN
iiclr-27370	288	28	,	,	PUNCT
iiclr-27370	288	29	which	which	PRON
iiclr-27370	288	30	they	they	PRON
iiclr-27370	288	31	dub	dub	VERB
iiclr-27370	288	32	a	a	DET
iiclr-27370	288	33	“	"	PUNCT
iiclr-27370	288	34	bitlicense	bitlicense	NOUN
iiclr-27370	288	35	,	,	PUNCT
iiclr-27370	288	36	”	"	PUNCT
iiclr-27370	288	37	but	but	CCONJ
iiclr-27370	288	38	also	also	ADV
iiclr-27370	288	39	to	to	PART
iiclr-27370	288	40	file	file	VERB
iiclr-27370	288	41	financial	financial	ADJ
iiclr-27370	288	42	reports	report	NOUN
iiclr-27370	288	43	on	on	ADP
iiclr-27370	288	44	their	their	PRON
iiclr-27370	288	45	crypto	crypto	NOUN
iiclr-27370	288	46	118	118	NUM
iiclr-27370	288	47	.	.	PUNCT
iiclr-27370	289	1	hughes	hughe	NOUN
iiclr-27370	289	2	,	,	PUNCT
iiclr-27370	289	3	supra	supra	PROPN
iiclr-27370	289	4	note	note	NOUN
iiclr-27370	289	5	111	111	NUM
iiclr-27370	289	6	,	,	PUNCT
iiclr-27370	289	7	at	at	ADP
iiclr-27370	289	8	8	8	NUM
iiclr-27370	289	9	;	;	PUNCT
iiclr-27370	289	10	bitfinex	bitfinex	ADV
iiclr-27370	289	11	,	,	PUNCT
iiclr-27370	289	12	cryptocurrency	cryptocurrency	NOUN
iiclr-27370	289	13	facts	fact	NOUN
iiclr-27370	289	14	,	,	PUNCT
iiclr-27370	289	15	https://cryptocurrency	https://cryptocurrency	NOUN
iiclr-27370	289	16	facts.com/exchanges/bitfinex/	facts.com/exchanges/bitfinex/	NOUN
iiclr-27370	290	1	[	[	X
iiclr-27370	290	2	https://perma.cc/vl98-jhdq	https://perma.cc/vl98-jhdq	X
iiclr-27370	290	3	]	]	X
iiclr-27370	290	4	(	(	PUNCT
iiclr-27370	290	5	explaining	explain	VERB
iiclr-27370	290	6	that	that	SCONJ
iiclr-27370	290	7	bitfinex	bitfinex	PROPN
iiclr-27370	290	8	is	be	AUX
iiclr-27370	290	9	“	"	PUNCT
iiclr-27370	290	10	leading	lead	VERB
iiclr-27370	290	11	an	an	DET
iiclr-27370	290	12	important	important	ADJ
iiclr-27370	290	13	cryptocurrency	cryptocurrency	NOUN
iiclr-27370	290	14	exchange	exchange	NOUN
iiclr-27370	290	15	that	that	PRON
iiclr-27370	290	16	offers	offer	VERB
iiclr-27370	290	17	the	the	DET
iiclr-27370	290	18	major	major	ADJ
iiclr-27370	290	19	cryptocurrencies	cryptocurrencie	NOUN
iiclr-27370	290	20	for	for	ADP
iiclr-27370	290	21	trade	trade	NOUN
iiclr-27370	290	22	”	"	PUNCT
iiclr-27370	290	23	)	)	PUNCT
iiclr-27370	290	24	.	.	PUNCT
iiclr-27370	291	1	119	119	NUM
iiclr-27370	291	2	.	.	PUNCT
iiclr-27370	292	1	hughes	hughe	NOUN
iiclr-27370	292	2	,	,	PUNCT
iiclr-27370	292	3	supra	supra	PROPN
iiclr-27370	292	4	note	note	NOUN
iiclr-27370	292	5	111	111	NUM
iiclr-27370	292	6	,	,	PUNCT
iiclr-27370	292	7	at	at	ADP
iiclr-27370	292	8	8	8	NUM
iiclr-27370	292	9	.	.	NOUN
iiclr-27370	292	10	120	120	NUM
iiclr-27370	292	11	.	.	PUNCT
iiclr-27370	293	1	i	i	PRON
iiclr-27370	293	2	d.	d.	PROPN
iiclr-27370	293	3	121	121	NUM
iiclr-27370	293	4	.	.	PUNCT
iiclr-27370	294	1	i	i	PRON
iiclr-27370	294	2	d.	d.	PROPN
iiclr-27370	294	3	122	122	NUM
iiclr-27370	294	4	.	.	PUNCT
iiclr-27370	295	1	i	i	PRON
iiclr-27370	295	2	d.	d.	PROPN
iiclr-27370	295	3	123	123	NUM
iiclr-27370	295	4	.	.	PUNCT
iiclr-27370	296	1	i	i	PRON
iiclr-27370	296	2	d.	d.	PROPN
iiclr-27370	296	3	124	124	NUM
iiclr-27370	296	4	.	.	PUNCT
iiclr-27370	297	1	how	how	SCONJ
iiclr-27370	297	2	the	the	DET
iiclr-27370	297	3	laws	law	NOUN
iiclr-27370	297	4	&	&	CCONJ
iiclr-27370	297	5	regulations	regulation	NOUN
iiclr-27370	297	6	affecting	affect	VERB
iiclr-27370	297	7	blockchain	blockchain	PROPN
iiclr-27370	297	8	technology	technology	PROPN
iiclr-27370	297	9	and	and	CCONJ
iiclr-27370	297	10	cryptocurrencies	cryptocurrencie	NOUN
iiclr-27370	297	11	,	,	PUNCT
iiclr-27370	297	12	like	like	ADP
iiclr-27370	297	13	bitcoin	bitcoin	NOUN
iiclr-27370	297	14	,	,	PUNCT
iiclr-27370	297	15	can	can	AUX
iiclr-27370	297	16	impact	impact	VERB
iiclr-27370	297	17	its	its	PRON
iiclr-27370	297	18	adoption	adoption	NOUN
iiclr-27370	297	19	,	,	PUNCT
iiclr-27370	297	20	bus	bus	NOUN
iiclr-27370	297	21	.	.	PUNCT
iiclr-27370	298	1	insider	insider	PROPN
iiclr-27370	298	2	(	(	PUNCT
iiclr-27370	298	3	jan	jan	PROPN
iiclr-27370	298	4	27	27	NUM
iiclr-27370	298	5	,	,	PUNCT
iiclr-27370	298	6	2021	2021	NUM
iiclr-27370	298	7	,	,	PUNCT
iiclr-27370	298	8	3:36	3:36	NUM
iiclr-27370	298	9	pm	pm	NOUN
iiclr-27370	298	10	)	)	PUNCT
iiclr-27370	298	11	,	,	PUNCT
iiclr-27370	298	12	https://www.business	https://www.business	PROPN
iiclr-27370	298	13	insider.com/blockchain-cryptocurrency-regulations-us-global	insider.com/blockchain-cryptocurrency-regulations-us-global	PROPN
iiclr-27370	299	1	[	[	X
iiclr-27370	299	2	https://perma.cc/h7c3-sdld	https://perma.cc/h7c3-sdld	PROPN
iiclr-27370	299	3	]	]	PUNCT
iiclr-27370	299	4	.	.	PUNCT
iiclr-27370	300	1	125	125	NUM
iiclr-27370	300	2	.	.	PUNCT
iiclr-27370	301	1	kim	kim	PROPN
iiclr-27370	301	2	,	,	PUNCT
iiclr-27370	301	3	supra	supra	PROPN
iiclr-27370	301	4	note	note	PROPN
iiclr-27370	301	5	89	89	NUM
iiclr-27370	301	6	,	,	PUNCT
iiclr-27370	301	7	at	at	ADP
iiclr-27370	301	8	349	349	NUM
iiclr-27370	301	9	.	.	PUNCT
iiclr-27370	301	10	126	126	NUM
iiclr-27370	301	11	.	.	PUNCT
iiclr-27370	302	1	i	i	PRON
iiclr-27370	302	2	d.	d.	PROPN
iiclr-27370	302	3	127	127	NUM
iiclr-27370	302	4	.	.	PUNCT
iiclr-27370	303	1	i	i	PRON
iiclr-27370	303	2	d.	d.	PROPN
iiclr-27370	303	3	206	206	NUM
iiclr-27370	303	4	indiana	indiana	PROPN
iiclr-27370	303	5	int’l	int’l	NUM
iiclr-27370	303	6	&	&	CCONJ
iiclr-27370	303	7	comp	comp	PROPN
iiclr-27370	303	8	.	.	PUNCT
iiclr-27370	304	1	law	law	NOUN
iiclr-27370	304	2	review	review	NOUN
iiclr-27370	304	3	[	[	X
iiclr-27370	304	4	vol	vol	NOUN
iiclr-27370	304	5	.	.	PUNCT
iiclr-27370	304	6	33:191	33:191	NUM
iiclr-27370	304	7	activity	activity	NOUN
iiclr-27370	304	8	,	,	PUNCT
iiclr-27370	304	9	thus	thus	ADV
iiclr-27370	304	10	subjecting	subject	VERB
iiclr-27370	304	11	themselves	themselves	PRON
iiclr-27370	304	12	to	to	ADP
iiclr-27370	304	13	potential	potential	ADJ
iiclr-27370	304	14	audits.128	audits.128	NOUN
iiclr-27370	304	15	further	far	ADV
iiclr-27370	304	16	,	,	PUNCT
iiclr-27370	304	17	exchanges	exchange	NOUN
iiclr-27370	304	18	and	and	CCONJ
iiclr-27370	304	19	businesses	business	NOUN
iiclr-27370	304	20	who	who	PRON
iiclr-27370	304	21	engage	engage	VERB
iiclr-27370	304	22	in	in	ADP
iiclr-27370	304	23	the	the	DET
iiclr-27370	304	24	cryptocurrency	cryptocurrency	NOUN
iiclr-27370	304	25	business	business	NOUN
iiclr-27370	304	26	are	be	AUX
iiclr-27370	304	27	required	require	VERB
iiclr-27370	304	28	to	to	PART
iiclr-27370	304	29	safeguard	safeguard	VERB
iiclr-27370	304	30	their	their	PRON
iiclr-27370	304	31	customers	customer	NOUN
iiclr-27370	304	32	’	’	PART
iiclr-27370	304	33	interests	interest	NOUN
iiclr-27370	304	34	by	by	ADP
iiclr-27370	304	35	:	:	PUNCT
iiclr-27370	304	36	(	(	PUNCT
iiclr-27370	304	37	a	a	X
iiclr-27370	304	38	)	)	PUNCT
iiclr-27370	304	39	maintaining	maintain	VERB
iiclr-27370	304	40	sufficient	sufficient	ADJ
iiclr-27370	304	41	capital	capital	NOUN
iiclr-27370	304	42	to	to	PART
iiclr-27370	304	43	ensure	ensure	VERB
iiclr-27370	304	44	the	the	DET
iiclr-27370	304	45	financial	financial	ADJ
iiclr-27370	304	46	integrity	integrity	NOUN
iiclr-27370	304	47	of	of	ADP
iiclr-27370	304	48	the	the	DET
iiclr-27370	304	49	licensee	licensee	NOUN
iiclr-27370	304	50	;	;	PUNCT
iiclr-27370	304	51	(	(	PUNCT
iiclr-27370	304	52	b	b	X
iiclr-27370	304	53	)	)	PUNCT
iiclr-27370	304	54	preserving	preserve	VERB
iiclr-27370	304	55	a	a	DET
iiclr-27370	304	56	surety	surety	NOUN
iiclr-27370	304	57	bond	bond	NOUN
iiclr-27370	304	58	or	or	CCONJ
iiclr-27370	304	59	trust	trust	NOUN
iiclr-27370	304	60	account	account	NOUN
iiclr-27370	304	61	for	for	ADP
iiclr-27370	304	62	the	the	DET
iiclr-27370	304	63	customer	customer	NOUN
iiclr-27370	304	64	’s	’s	PART
iiclr-27370	304	65	benefit	benefit	NOUN
iiclr-27370	304	66	;	;	PUNCT
iiclr-27370	304	67	and	and	CCONJ
iiclr-27370	304	68	(	(	PUNCT
iiclr-27370	304	69	c	c	X
iiclr-27370	304	70	)	)	PUNCT
iiclr-27370	304	71	refraining	refrain	VERB
iiclr-27370	304	72	from	from	ADP
iiclr-27370	304	73	selling	sell	VERB
iiclr-27370	304	74	,	,	PUNCT
iiclr-27370	304	75	transferring	transferring	NOUN
iiclr-27370	304	76	,	,	PUNCT
iiclr-27370	304	77	or	or	CCONJ
iiclr-27370	304	78	otherwise	otherwise	ADV
iiclr-27370	304	79	using	use	VERB
iiclr-27370	304	80	assets	asset	NOUN
iiclr-27370	304	81	on	on	ADP
iiclr-27370	304	82	behalf	behalf	NOUN
iiclr-27370	304	83	of	of	ADP
iiclr-27370	304	84	another	another	PRON
iiclr-27370	304	85	unless	unless	SCONJ
iiclr-27370	304	86	at	at	ADP
iiclr-27370	304	87	that	that	DET
iiclr-27370	304	88	person	person	NOUN
iiclr-27370	304	89	’s	’s	PART
iiclr-27370	304	90	direction.129	direction.129	PROPN
iiclr-27370	304	91	although	although	SCONJ
iiclr-27370	304	92	new	new	PROPN
iiclr-27370	304	93	york	york	PROPN
iiclr-27370	304	94	’s	’s	PART
iiclr-27370	304	95	regulatory	regulatory	ADJ
iiclr-27370	304	96	framework	framework	NOUN
iiclr-27370	304	97	alone	alone	ADV
iiclr-27370	304	98	does	do	AUX
iiclr-27370	304	99	not	not	PART
iiclr-27370	304	100	appear	appear	VERB
iiclr-27370	304	101	overly	overly	ADV
iiclr-27370	304	102	confusing	confusing	ADJ
iiclr-27370	304	103	on	on	ADP
iiclr-27370	304	104	its	its	PRON
iiclr-27370	304	105	face	face	NOUN
iiclr-27370	304	106	,	,	PUNCT
iiclr-27370	304	107	when	when	SCONJ
iiclr-27370	304	108	taken	take	VERB
iiclr-27370	304	109	in	in	ADP
iiclr-27370	304	110	conjunction	conjunction	NOUN
iiclr-27370	304	111	with	with	ADP
iiclr-27370	304	112	the	the	DET
iiclr-27370	304	113	varying	vary	VERB
iiclr-27370	304	114	federal	federal	ADJ
iiclr-27370	304	115	regulations	regulation	NOUN
iiclr-27370	304	116	and	and	CCONJ
iiclr-27370	304	117	state	state	NOUN
iiclr-27370	304	118	proposals	proposal	NOUN
iiclr-27370	304	119	,	,	PUNCT
iiclr-27370	304	120	the	the	DET
iiclr-27370	304	121	regulatory	regulatory	ADJ
iiclr-27370	304	122	landscape	landscape	NOUN
iiclr-27370	304	123	becomes	become	VERB
iiclr-27370	304	124	significantly	significantly	ADV
iiclr-27370	304	125	less	less	ADV
iiclr-27370	304	126	clear	clear	ADJ
iiclr-27370	304	127	.	.	PUNCT
iiclr-27370	305	1	e.	e.	PROPN
iiclr-27370	306	1	the	the	DET
iiclr-27370	306	2	need	need	NOUN
iiclr-27370	306	3	for	for	ADP
iiclr-27370	306	4	blanket	blanket	NOUN
iiclr-27370	306	5	regulation	regulation	NOUN
iiclr-27370	306	6	when	when	SCONJ
iiclr-27370	306	7	pieced	piece	VERB
iiclr-27370	306	8	together	together	ADV
iiclr-27370	306	9	,	,	PUNCT
iiclr-27370	306	10	the	the	DET
iiclr-27370	306	11	varying	vary	VERB
iiclr-27370	306	12	and	and	CCONJ
iiclr-27370	306	13	conflicting	conflicting	ADJ
iiclr-27370	306	14	regulations	regulation	NOUN
iiclr-27370	306	15	of	of	ADP
iiclr-27370	306	16	the	the	DET
iiclr-27370	306	17	states	state	NOUN
iiclr-27370	306	18	and	and	CCONJ
iiclr-27370	306	19	federal	federal	ADJ
iiclr-27370	306	20	agencies	agency	NOUN
iiclr-27370	306	21	fall	fall	VERB
iiclr-27370	306	22	short	short	ADV
iiclr-27370	306	23	of	of	ADP
iiclr-27370	306	24	offering	offer	VERB
iiclr-27370	306	25	any	any	DET
iiclr-27370	306	26	sort	sort	NOUN
iiclr-27370	306	27	of	of	ADP
iiclr-27370	306	28	substantive	substantive	ADJ
iiclr-27370	306	29	guidance	guidance	NOUN
iiclr-27370	306	30	.	.	PUNCT
iiclr-27370	307	1	although	although	SCONJ
iiclr-27370	307	2	some	some	DET
iiclr-27370	307	3	measures	measure	NOUN
iiclr-27370	307	4	have	have	AUX
iiclr-27370	307	5	been	be	AUX
iiclr-27370	307	6	implemented	implement	VERB
iiclr-27370	307	7	to	to	PART
iiclr-27370	307	8	protect	protect	VERB
iiclr-27370	307	9	crypto	crypto	NOUN
iiclr-27370	307	10	holders	holder	NOUN
iiclr-27370	307	11	,	,	PUNCT
iiclr-27370	307	12	they	they	PRON
iiclr-27370	307	13	are	be	AUX
iiclr-27370	307	14	ineffective	ineffective	ADJ
iiclr-27370	307	15	,	,	PUNCT
iiclr-27370	307	16	as	as	SCONJ
iiclr-27370	307	17	they	they	PRON
iiclr-27370	307	18	are	be	AUX
iiclr-27370	307	19	in	in	ADP
iiclr-27370	307	20	conflict	conflict	NOUN
iiclr-27370	307	21	with	with	ADP
iiclr-27370	307	22	measures	measure	NOUN
iiclr-27370	307	23	put	put	VERB
iiclr-27370	307	24	in	in	ADP
iiclr-27370	307	25	place	place	NOUN
iiclr-27370	307	26	by	by	ADP
iiclr-27370	307	27	other	other	ADJ
iiclr-27370	307	28	governing	govern	VERB
iiclr-27370	307	29	bodies	body	NOUN
iiclr-27370	307	30	.	.	PUNCT
iiclr-27370	308	1	since	since	SCONJ
iiclr-27370	308	2	the	the	DET
iiclr-27370	308	3	united	united	PROPN
iiclr-27370	308	4	states	states	PROPN
iiclr-27370	308	5	has	have	AUX
iiclr-27370	308	6	not	not	PART
iiclr-27370	308	7	preempted	preempt	VERB
iiclr-27370	308	8	states	state	NOUN
iiclr-27370	308	9	from	from	ADP
iiclr-27370	308	10	regulating	regulate	VERB
iiclr-27370	308	11	cryptocurrency	cryptocurrency	NOUN
iiclr-27370	308	12	,	,	PUNCT
iiclr-27370	308	13	nor	nor	CCONJ
iiclr-27370	308	14	named	name	VERB
iiclr-27370	308	15	an	an	DET
iiclr-27370	308	16	exclusive	exclusive	ADJ
iiclr-27370	308	17	regulatory	regulatory	ADJ
iiclr-27370	308	18	authority	authority	NOUN
iiclr-27370	308	19	,	,	PUNCT
iiclr-27370	308	20	a	a	DET
iiclr-27370	308	21	plethora	plethora	NOUN
iiclr-27370	308	22	of	of	ADP
iiclr-27370	308	23	agencies	agency	NOUN
iiclr-27370	308	24	and	and	CCONJ
iiclr-27370	308	25	states	state	NOUN
iiclr-27370	308	26	have	have	AUX
iiclr-27370	308	27	thrown	throw	VERB
iiclr-27370	308	28	their	their	PRON
iiclr-27370	308	29	hats	hat	NOUN
iiclr-27370	308	30	in	in	ADP
iiclr-27370	308	31	the	the	DET
iiclr-27370	308	32	regulatory	regulatory	ADJ
iiclr-27370	308	33	ring	ring	NOUN
iiclr-27370	308	34	,	,	PUNCT
iiclr-27370	308	35	thus	thus	ADV
iiclr-27370	308	36	creating	create	VERB
iiclr-27370	308	37	an	an	DET
iiclr-27370	308	38	unintelligible	unintelligible	ADJ
iiclr-27370	308	39	regulatory	regulatory	ADJ
iiclr-27370	308	40	framework	framework	NOUN
iiclr-27370	308	41	that	that	PRON
iiclr-27370	308	42	is	be	AUX
iiclr-27370	308	43	inefficient	inefficient	ADJ
iiclr-27370	308	44	,	,	PUNCT
iiclr-27370	308	45	conflicting	conflicting	ADJ
iiclr-27370	308	46	,	,	PUNCT
iiclr-27370	308	47	and	and	CCONJ
iiclr-27370	308	48	rife	rife	NOUN
iiclr-27370	308	49	with	with	ADP
iiclr-27370	308	50	chaos	chaos	NOUN
iiclr-27370	308	51	.	.	PUNCT
iiclr-27370	309	1	f.	f.	PROPN
iiclr-27370	309	2	cryptocurrency	cryptocurrency	PROPN
iiclr-27370	309	3	:	:	PUNCT
iiclr-27370	309	4	the	the	DET
iiclr-27370	309	5	future	future	NOUN
iiclr-27370	309	6	on	on	ADP
iiclr-27370	309	7	the	the	DET
iiclr-27370	309	8	horizon	horizon	NOUN
iiclr-27370	309	9	on	on	ADP
iiclr-27370	309	10	november	november	PROPN
iiclr-27370	309	11	15	15	NUM
iiclr-27370	309	12	,	,	PUNCT
iiclr-27370	309	13	2021	2021	NUM
iiclr-27370	309	14	,	,	PUNCT
iiclr-27370	309	15	president	president	PROPN
iiclr-27370	309	16	biden	biden	PROPN
iiclr-27370	309	17	signed	sign	VERB
iiclr-27370	309	18	hr	hr	NOUN
iiclr-27370	309	19	3684	3684	NUM
iiclr-27370	309	20	into	into	ADP
iiclr-27370	309	21	law.130	law.130	ADJ
iiclr-27370	309	22	this	this	DET
iiclr-27370	309	23	bill	bill	NOUN
iiclr-27370	309	24	expanded	expand	VERB
iiclr-27370	309	25	the	the	DET
iiclr-27370	309	26	definition	definition	NOUN
iiclr-27370	309	27	of	of	ADP
iiclr-27370	309	28	“	"	PUNCT
iiclr-27370	309	29	broker	broker	NOUN
iiclr-27370	309	30	”	"	PUNCT
iiclr-27370	309	31	to	to	PART
iiclr-27370	309	32	include	include	VERB
iiclr-27370	309	33	cryptocurrency	cryptocurrency	NOUN
iiclr-27370	309	34	exchanges.131	exchanges.131	PROPN
iiclr-27370	309	35	however	however	ADV
iiclr-27370	309	36	,	,	PUNCT
iiclr-27370	309	37	almost	almost	ADV
iiclr-27370	309	38	immediately	immediately	ADV
iiclr-27370	309	39	,	,	PUNCT
iiclr-27370	309	40	concerns	concern	NOUN
iiclr-27370	309	41	arose	arise	VERB
iiclr-27370	309	42	that	that	SCONJ
iiclr-27370	309	43	this	this	DET
iiclr-27370	309	44	bill	bill	NOUN
iiclr-27370	309	45	and	and	CCONJ
iiclr-27370	309	46	the	the	DET
iiclr-27370	309	47	expansion	expansion	NOUN
iiclr-27370	309	48	of	of	ADP
iiclr-27370	309	49	the	the	DET
iiclr-27370	309	50	term	term	NOUN
iiclr-27370	309	51	“	"	PUNCT
iiclr-27370	309	52	broker	broker	NOUN
iiclr-27370	309	53	”	"	PUNCT
iiclr-27370	309	54	created	create	VERB
iiclr-27370	309	55	too	too	ADV
iiclr-27370	309	56	broad	broad	ADJ
iiclr-27370	309	57	of	of	ADP
iiclr-27370	309	58	a	a	DET
iiclr-27370	309	59	definition	definition	NOUN
iiclr-27370	309	60	,	,	PUNCT
iiclr-27370	309	61	thus	thus	ADV
iiclr-27370	309	62	implicating	implicate	VERB
iiclr-27370	309	63	entities	entity	NOUN
iiclr-27370	309	64	that	that	PRON
iiclr-27370	309	65	do	do	AUX
iiclr-27370	309	66	not	not	PART
iiclr-27370	309	67	facilitate	facilitate	VERB
iiclr-27370	309	68	securities	security	NOUN
iiclr-27370	309	69	transactions	transaction	NOUN
iiclr-27370	309	70	,	,	PUNCT
iiclr-27370	309	71	such	such	ADJ
iiclr-27370	309	72	as	as	ADP
iiclr-27370	309	73	cryptocurrency	cryptocurrency	NOUN
iiclr-27370	309	74	miners.132	miners.132	NOUN
iiclr-27370	309	75	the	the	DET
iiclr-27370	309	76	problems	problem	NOUN
iiclr-27370	309	77	with	with	ADP
iiclr-27370	309	78	this	this	DET
iiclr-27370	309	79	enactment	enactment	NOUN
iiclr-27370	309	80	do	do	AUX
iiclr-27370	309	81	not	not	PART
iiclr-27370	309	82	stop	stop	VERB
iiclr-27370	309	83	there	there	ADV
iiclr-27370	309	84	,	,	PUNCT
iiclr-27370	309	85	however	however	ADV
iiclr-27370	309	86	.	.	PUNCT
iiclr-27370	310	1	this	this	DET
iiclr-27370	310	2	bill	bill	NOUN
iiclr-27370	310	3	also	also	ADV
iiclr-27370	310	4	applies	apply	VERB
iiclr-27370	310	5	tax	tax	NOUN
iiclr-27370	310	6	code	code	NOUN
iiclr-27370	310	7	6050i	6050i	NUM
iiclr-27370	310	8	to	to	AUX
iiclr-27370	310	9	crypto	crypto	VERB
iiclr-27370	310	10	transactions.133	transactions.133	ADP
iiclr-27370	310	11	this	this	DET
iiclr-27370	310	12	code	code	NOUN
iiclr-27370	310	13	,	,	PUNCT
iiclr-27370	310	14	when	when	SCONJ
iiclr-27370	310	15	enacted	enact	VERB
iiclr-27370	310	16	,	,	PUNCT
iiclr-27370	310	17	was	be	AUX
iiclr-27370	310	18	intended	intend	VERB
iiclr-27370	310	19	128	128	NUM
iiclr-27370	310	20	.	.	PUNCT
iiclr-27370	311	1	i	i	PRON
iiclr-27370	311	2	d.	d.	PROPN
iiclr-27370	311	3	129	129	NUM
iiclr-27370	311	4	.	.	PUNCT
iiclr-27370	312	1	i	i	PRON
iiclr-27370	312	2	d.	d.	PROPN
iiclr-27370	312	3	at	at	ADP
iiclr-27370	312	4	350	350	NUM
iiclr-27370	312	5	.	.	PUNCT
iiclr-27370	312	6	130	130	NUM
iiclr-27370	312	7	.	.	PUNCT
iiclr-27370	313	1	ashlie	ashlie	PROPN
iiclr-27370	313	2	beringer	beringer	PROPN
iiclr-27370	313	3	et	et	PROPN
iiclr-27370	313	4	.	.	PUNCT
iiclr-27370	314	1	al	al	PROPN
iiclr-27370	314	2	,	,	PUNCT
iiclr-27370	314	3	infrastructure	infrastructure	NOUN
iiclr-27370	314	4	bill	bill	NOUN
iiclr-27370	314	5	’s	’s	PART
iiclr-27370	314	6	new	new	ADJ
iiclr-27370	314	7	reporting	reporting	NOUN
iiclr-27370	314	8	requirements	requirement	NOUN
iiclr-27370	314	9	may	may	AUX
iiclr-27370	314	10	have	have	VERB
iiclr-27370	314	11	sweeping	sweeping	ADJ
iiclr-27370	314	12	implications	implication	NOUN
iiclr-27370	314	13	for	for	ADP
iiclr-27370	314	14	cryptocurrency	cryptocurrency	NOUN
iiclr-27370	314	15	ecosystem	ecosystem	NOUN
iiclr-27370	314	16	,	,	PUNCT
iiclr-27370	314	17	gibson	gibson	PROPN
iiclr-27370	314	18	dunn	dunn	PROPN
iiclr-27370	314	19	(	(	PUNCT
iiclr-27370	314	20	nov	nov	PROPN
iiclr-27370	314	21	.	.	PROPN
iiclr-27370	314	22	18	18	NUM
iiclr-27370	314	23	,	,	PUNCT
iiclr-27370	314	24	2021	2021	NUM
iiclr-27370	314	25	)	)	PUNCT
iiclr-27370	314	26	,	,	PUNCT
iiclr-27370	314	27	https://www.gibsondunn.com/infrastructure-bills-new-reporting-requirements-may-have-sweepingimplications-for-cryptocurrency-ecosystem/	https://www.gibsondunn.com/infrastructure-bills-new-reporting-requirements-may-have-sweepingimplications-for-cryptocurrency-ecosystem/	NOUN
iiclr-27370	315	1	[	[	X
iiclr-27370	315	2	https://perma.cc/wjy4-z2b7	https://perma.cc/wjy4-z2b7	X
iiclr-27370	315	3	]	]	X
iiclr-27370	315	4	.	.	PUNCT
iiclr-27370	316	1	131	131	NUM
iiclr-27370	316	2	.	.	PUNCT
iiclr-27370	317	1	i	i	PRON
iiclr-27370	317	2	d.	d.	PROPN
iiclr-27370	317	3	132	132	NUM
iiclr-27370	317	4	.	.	PUNCT
iiclr-27370	318	1	nikhilesh	nikhilesh	PROPN
iiclr-27370	318	2	de	de	PROPN
iiclr-27370	318	3	,	,	PUNCT
iiclr-27370	318	4	house	house	NOUN
iiclr-27370	318	5	sends	send	VERB
iiclr-27370	318	6	infrastructure	infrastructure	NOUN
iiclr-27370	318	7	bill	bill	NOUN
iiclr-27370	318	8	with	with	ADP
iiclr-27370	318	9	crypto	crypto	NOUN
iiclr-27370	318	10	tax	tax	NOUN
iiclr-27370	318	11	provision	provision	NOUN
iiclr-27370	318	12	to	to	ADP
iiclr-27370	318	13	us	us	PROPN
iiclr-27370	318	14	president	president	NOUN
iiclr-27370	318	15	,	,	PUNCT
iiclr-27370	318	16	coindesk	coindesk	PROPN
iiclr-27370	318	17	(	(	PUNCT
iiclr-27370	318	18	nov	nov	PROPN
iiclr-27370	318	19	.	.	PROPN
iiclr-27370	318	20	8	8	NUM
iiclr-27370	318	21	,	,	PUNCT
iiclr-27370	318	22	2021	2021	NUM
iiclr-27370	318	23	,	,	PUNCT
iiclr-27370	318	24	2:45	2:45	NUM
iiclr-27370	318	25	pm	pm	NOUN
iiclr-27370	318	26	)	)	PUNCT
iiclr-27370	318	27	https://www.coindesk.com/business/2021/11/06/	https://www.coindesk.com/business/2021/11/06/	NUM
iiclr-27370	318	28	house	house	NOUN
iiclr-27370	318	29	-	-	PUNCT
iiclr-27370	318	30	sends	send	NOUN
iiclr-27370	318	31	-	-	PUNCT
iiclr-27370	318	32	infrastructure	infrastructure	NOUN
iiclr-27370	318	33	-	-	PUNCT
iiclr-27370	318	34	bill	bill	NOUN
iiclr-27370	318	35	-	-	PUNCT
iiclr-27370	318	36	with	with	ADP
iiclr-27370	318	37	-	-	PUNCT
iiclr-27370	318	38	crypto	crypto	NOUN
iiclr-27370	318	39	-	-	PUNCT
iiclr-27370	318	40	tax	tax	NOUN
iiclr-27370	318	41	-	-	PUNCT
iiclr-27370	318	42	provision	provision	NOUN
iiclr-27370	318	43	-	-	PUNCT
iiclr-27370	318	44	to	to	ADP
iiclr-27370	318	45	-	-	PUNCT
iiclr-27370	318	46	us	we	PRON
iiclr-27370	318	47	-	-	PUNCT
iiclr-27370	318	48	president/	president/	PROPN
iiclr-27370	318	49	[	[	X
iiclr-27370	318	50	https://perma.cc/8zes6vzp	https://perma.cc/8zes6vzp	X
iiclr-27370	318	51	]	]	X
iiclr-27370	318	52	.	.	PUNCT
iiclr-27370	319	1	133	133	NUM
iiclr-27370	319	2	.	.	PUNCT
iiclr-27370	320	1	i	i	PRON
iiclr-27370	320	2	d.	d.	PROPN
iiclr-27370	320	3	2023	2023	NUM
iiclr-27370	320	4	]	]	PUNCT
iiclr-27370	320	5	the	the	DET
iiclr-27370	320	6	wild	wild	ADJ
iiclr-27370	320	7	west	west	NOUN
iiclr-27370	320	8	,	,	PUNCT
iiclr-27370	320	9	cryptocurrency	cryptocurrency	NOUN
iiclr-27370	320	10	,	,	PUNCT
iiclr-27370	320	11	and	and	CCONJ
iiclr-27370	320	12	singapore	singapore	PROPN
iiclr-27370	320	13	207	207	NUM
iiclr-27370	320	14	to	to	PART
iiclr-27370	320	15	apply	apply	VERB
iiclr-27370	320	16	only	only	ADV
iiclr-27370	320	17	to	to	ADP
iiclr-27370	320	18	in	in	ADP
iiclr-27370	320	19	-	-	PUNCT
iiclr-27370	320	20	person	person	NOUN
iiclr-27370	320	21	cash	cash	NOUN
iiclr-27370	320	22	transactions	transaction	NOUN
iiclr-27370	320	23	and	and	CCONJ
iiclr-27370	320	24	requires	require	VERB
iiclr-27370	320	25	recipients	recipient	NOUN
iiclr-27370	320	26	of	of	ADP
iiclr-27370	320	27	over	over	ADP
iiclr-27370	320	28	$	$	SYM
iiclr-27370	320	29	10,000	10,000	NUM
iiclr-27370	320	30	to	to	PART
iiclr-27370	320	31	“	"	PUNCT
iiclr-27370	320	32	verify	verify	VERB
iiclr-27370	320	33	the	the	DET
iiclr-27370	320	34	sender	sender	NOUN
iiclr-27370	320	35	’s	’s	PART
iiclr-27370	320	36	personal	personal	ADJ
iiclr-27370	320	37	information	information	NOUN
iiclr-27370	320	38	and	and	CCONJ
iiclr-27370	320	39	record	record	VERB
iiclr-27370	320	40	his	his	PRON
iiclr-27370	320	41	or	or	CCONJ
iiclr-27370	320	42	her	her	PRON
iiclr-27370	320	43	social	social	ADJ
iiclr-27370	320	44	security	security	NOUN
iiclr-27370	320	45	number	number	NOUN
iiclr-27370	320	46	,	,	PUNCT
iiclr-27370	320	47	the	the	DET
iiclr-27370	320	48	nature	nature	NOUN
iiclr-27370	320	49	of	of	ADP
iiclr-27370	320	50	the	the	DET
iiclr-27370	320	51	transaction	transaction	NOUN
iiclr-27370	320	52	and	and	CCONJ
iiclr-27370	320	53	other	other	ADJ
iiclr-27370	320	54	information	information	NOUN
iiclr-27370	320	55	,	,	PUNCT
iiclr-27370	320	56	and	and	CCONJ
iiclr-27370	320	57	report	report	VERB
iiclr-27370	320	58	the	the	DET
iiclr-27370	320	59	transaction	transaction	NOUN
iiclr-27370	320	60	to	to	ADP
iiclr-27370	320	61	the	the	DET
iiclr-27370	320	62	government	government	NOUN
iiclr-27370	320	63	within	within	ADP
iiclr-27370	320	64	15	15	NUM
iiclr-27370	320	65	days	day	NOUN
iiclr-27370	320	66	.	.	PUNCT
iiclr-27370	320	67	”134	”134	PUNCT
iiclr-27370	321	1	while	while	SCONJ
iiclr-27370	321	2	the	the	DET
iiclr-27370	321	3	application	application	NOUN
iiclr-27370	321	4	of	of	ADP
iiclr-27370	321	5	tax	tax	NOUN
iiclr-27370	321	6	code	code	NOUN
iiclr-27370	321	7	60501	60501	NUM
iiclr-27370	321	8	to	to	ADP
iiclr-27370	321	9	cryptocurrency	cryptocurrency	NOUN
iiclr-27370	321	10	is	be	AUX
iiclr-27370	321	11	well	well	ADV
iiclr-27370	321	12	meaning	meaning	NOUN
iiclr-27370	321	13	,	,	PUNCT
iiclr-27370	321	14	it	it	PRON
iiclr-27370	321	15	is	be	AUX
iiclr-27370	321	16	exceedingly	exceedingly	ADV
iiclr-27370	321	17	difficult	difficult	ADJ
iiclr-27370	321	18	,	,	PUNCT
iiclr-27370	321	19	problematic	problematic	ADJ
iiclr-27370	321	20	,	,	PUNCT
iiclr-27370	321	21	and	and	CCONJ
iiclr-27370	321	22	almost	almost	ADV
iiclr-27370	321	23	impossible	impossible	ADJ
iiclr-27370	321	24	to	to	PART
iiclr-27370	321	25	comply	comply	VERB
iiclr-27370	321	26	with	with	ADP
iiclr-27370	321	27	in	in	ADP
iiclr-27370	321	28	the	the	DET
iiclr-27370	321	29	context	context	NOUN
iiclr-27370	321	30	of	of	ADP
iiclr-27370	321	31	cryptocurrency	cryptocurrency	NOUN
iiclr-27370	321	32	,	,	PUNCT
iiclr-27370	321	33	given	give	VERB
iiclr-27370	321	34	the	the	DET
iiclr-27370	321	35	decentralized	decentralize	VERB
iiclr-27370	321	36	and	and	CCONJ
iiclr-27370	321	37	sometimes	sometimes	ADV
iiclr-27370	321	38	anonymous	anonymous	ADJ
iiclr-27370	321	39	nature	nature	NOUN
iiclr-27370	321	40	of	of	ADP
iiclr-27370	321	41	blockchain	blockchain	PROPN
iiclr-27370	321	42	technology.135	technology.135	PROPN
iiclr-27370	321	43	the	the	DET
iiclr-27370	321	44	united	united	PROPN
iiclr-27370	321	45	states	states	PROPN
iiclr-27370	321	46	has	have	AUX
iiclr-27370	321	47	asserted	assert	VERB
iiclr-27370	321	48	a	a	DET
iiclr-27370	321	49	definitive	definitive	ADJ
iiclr-27370	321	50	interest	interest	NOUN
iiclr-27370	321	51	in	in	ADP
iiclr-27370	321	52	establishing	establish	VERB
iiclr-27370	321	53	a	a	DET
iiclr-27370	321	54	more	more	ADV
iiclr-27370	321	55	successful	successful	ADJ
iiclr-27370	321	56	federal	federal	ADJ
iiclr-27370	321	57	regulatory	regulatory	ADJ
iiclr-27370	321	58	scheme	scheme	NOUN
iiclr-27370	321	59	regarding	regard	VERB
iiclr-27370	321	60	cryptocurrency	cryptocurrency	NOUN
iiclr-27370	321	61	.	.	PUNCT
iiclr-27370	322	1	in	in	ADP
iiclr-27370	322	2	january	january	PROPN
iiclr-27370	322	3	2022	2022	NUM
iiclr-27370	322	4	,	,	PUNCT
iiclr-27370	322	5	the	the	DET
iiclr-27370	322	6	biden	biden	PROPN
iiclr-27370	322	7	administration	administration	NOUN
iiclr-27370	322	8	published	publish	VERB
iiclr-27370	322	9	a	a	DET
iiclr-27370	322	10	statement	statement	NOUN
iiclr-27370	322	11	declaring	declare	VERB
iiclr-27370	322	12	that	that	SCONJ
iiclr-27370	322	13	it	it	PRON
iiclr-27370	322	14	was	be	AUX
iiclr-27370	322	15	preparing	prepare	VERB
iiclr-27370	322	16	to	to	PART
iiclr-27370	322	17	release	release	VERB
iiclr-27370	322	18	a	a	DET
iiclr-27370	322	19	government	government	NOUN
iiclr-27370	322	20	-	-	PUNCT
iiclr-27370	322	21	wide	wide	ADJ
iiclr-27370	322	22	strategy	strategy	NOUN
iiclr-27370	322	23	to	to	PART
iiclr-27370	322	24	regulate	regulate	VERB
iiclr-27370	322	25	cryptocurrencies	cryptocurrencie	NOUN
iiclr-27370	322	26	as	as	ADV
iiclr-27370	322	27	early	early	ADV
iiclr-27370	322	28	as	as	ADP
iiclr-27370	322	29	february	february	NOUN
iiclr-27370	322	30	2022.136	2022.136	NUM
iiclr-27370	322	31	this	this	DET
iiclr-27370	322	32	statement	statement	NOUN
iiclr-27370	322	33	asserted	assert	VERB
iiclr-27370	322	34	that	that	SCONJ
iiclr-27370	322	35	a	a	DET
iiclr-27370	322	36	national	national	ADJ
iiclr-27370	322	37	security	security	PROPN
iiclr-27370	322	38	council	council	PROPN
iiclr-27370	322	39	memorandum	memorandum	NOUN
iiclr-27370	322	40	would	would	AUX
iiclr-27370	322	41	soon	soon	ADV
iiclr-27370	322	42	be	be	AUX
iiclr-27370	322	43	issued	issue	VERB
iiclr-27370	322	44	,	,	PUNCT
iiclr-27370	322	45	which	which	PRON
iiclr-27370	322	46	would	would	AUX
iiclr-27370	322	47	require	require	VERB
iiclr-27370	322	48	federal	federal	ADJ
iiclr-27370	322	49	agencies	agency	NOUN
iiclr-27370	322	50	to	to	PART
iiclr-27370	322	51	explore	explore	VERB
iiclr-27370	322	52	the	the	DET
iiclr-27370	322	53	development	development	NOUN
iiclr-27370	322	54	of	of	ADP
iiclr-27370	322	55	a	a	DET
iiclr-27370	322	56	central	central	ADJ
iiclr-27370	322	57	bank	bank	NOUN
iiclr-27370	322	58	digital	digital	ADJ
iiclr-27370	322	59	currency	currency	NOUN
iiclr-27370	322	60	and	and	CCONJ
iiclr-27370	322	61	evaluate	evaluate	VERB
iiclr-27370	322	62	the	the	DET
iiclr-27370	322	63	risks	risk	NOUN
iiclr-27370	322	64	and	and	CCONJ
iiclr-27370	322	65	opportunities	opportunity	NOUN
iiclr-27370	322	66	associated	associate	VERB
iiclr-27370	322	67	with	with	ADP
iiclr-27370	322	68	the	the	DET
iiclr-27370	322	69	broader	broad	ADJ
iiclr-27370	322	70	cryptocurrency	cryptocurrency	NOUN
iiclr-27370	322	71	market	market	NOUN
iiclr-27370	322	72	as	as	ADP
iiclr-27370	322	73	a	a	DET
iiclr-27370	322	74	whole.137	whole.137	NOUN
iiclr-27370	322	75	then	then	ADV
iiclr-27370	322	76	,	,	PUNCT
iiclr-27370	322	77	on	on	ADP
iiclr-27370	322	78	march	march	PROPN
iiclr-27370	322	79	9	9	NUM
iiclr-27370	322	80	,	,	PUNCT
iiclr-27370	322	81	2022	2022	NUM
iiclr-27370	322	82	,	,	PUNCT
iiclr-27370	322	83	president	president	PROPN
iiclr-27370	322	84	biden	biden	PROPN
iiclr-27370	322	85	signed	sign	VERB
iiclr-27370	322	86	an	an	DET
iiclr-27370	322	87	executive	executive	ADJ
iiclr-27370	322	88	order	order	NOUN
iiclr-27370	322	89	to	to	PART
iiclr-27370	322	90	ensure	ensure	VERB
iiclr-27370	322	91	the	the	DET
iiclr-27370	322	92	responsible	responsible	ADJ
iiclr-27370	322	93	development	development	NOUN
iiclr-27370	322	94	of	of	ADP
iiclr-27370	322	95	digital	digital	PROPN
iiclr-27370	322	96	assets.138	assets.138	PROPN
iiclr-27370	322	97	this	this	DET
iiclr-27370	322	98	order	order	NOUN
iiclr-27370	322	99	details	detail	VERB
iiclr-27370	322	100	the	the	DET
iiclr-27370	322	101	risks	risk	NOUN
iiclr-27370	322	102	of	of	ADP
iiclr-27370	322	103	cryptocurrency	cryptocurrency	NOUN
iiclr-27370	322	104	,	,	PUNCT
iiclr-27370	322	105	including	include	VERB
iiclr-27370	322	106	threats	threat	NOUN
iiclr-27370	322	107	to	to	ADP
iiclr-27370	322	108	financial	financial	ADJ
iiclr-27370	322	109	stability	stability	NOUN
iiclr-27370	322	110	,	,	PUNCT
iiclr-27370	322	111	national	national	ADJ
iiclr-27370	322	112	security	security	NOUN
iiclr-27370	322	113	,	,	PUNCT
iiclr-27370	322	114	the	the	DET
iiclr-27370	322	115	global	global	ADJ
iiclr-27370	322	116	climate	climate	NOUN
iiclr-27370	322	117	,	,	PUNCT
iiclr-27370	322	118	and	and	CCONJ
iiclr-27370	322	119	consumers.139	consumers.139	NOUN
iiclr-27370	322	120	in	in	ADP
iiclr-27370	322	121	addressing	address	VERB
iiclr-27370	322	122	these	these	DET
iiclr-27370	322	123	issues	issue	NOUN
iiclr-27370	322	124	,	,	PUNCT
iiclr-27370	322	125	president	president	PROPN
iiclr-27370	322	126	biden	biden	PROPN
iiclr-27370	322	127	expressed	express	VERB
iiclr-27370	322	128	that	that	SCONJ
iiclr-27370	322	129	the	the	DET
iiclr-27370	322	130	united	united	PROPN
iiclr-27370	322	131	states	states	PROPN
iiclr-27370	322	132	must	must	AUX
iiclr-27370	322	133	“	"	PUNCT
iiclr-27370	322	134	maintain	maintain	VERB
iiclr-27370	322	135	technological	technological	ADJ
iiclr-27370	322	136	leadership	leadership	NOUN
iiclr-27370	322	137	in	in	ADP
iiclr-27370	322	138	this	this	DET
iiclr-27370	322	139	rapidly	rapidly	ADV
iiclr-27370	322	140	growing	grow	VERB
iiclr-27370	322	141	space	space	NOUN
iiclr-27370	322	142	,	,	PUNCT
iiclr-27370	322	143	supporting	support	VERB
iiclr-27370	322	144	innovation	innovation	NOUN
iiclr-27370	322	145	while	while	SCONJ
iiclr-27370	322	146	mitigating	mitigate	VERB
iiclr-27370	322	147	the	the	DET
iiclr-27370	322	148	risks	risk	NOUN
iiclr-27370	322	149	for	for	ADP
iiclr-27370	322	150	consumers	consumer	NOUN
iiclr-27370	322	151	,	,	PUNCT
iiclr-27370	322	152	businesses	business	NOUN
iiclr-27370	322	153	,	,	PUNCT
iiclr-27370	322	154	the	the	DET
iiclr-27370	322	155	broader	broad	ADJ
iiclr-27370	322	156	financial	financial	ADJ
iiclr-27370	322	157	system	system	NOUN
iiclr-27370	322	158	,	,	PUNCT
iiclr-27370	322	159	and	and	CCONJ
iiclr-27370	322	160	the	the	DET
iiclr-27370	322	161	climate	climate	NOUN
iiclr-27370	322	162	.	.	PUNCT
iiclr-27370	323	1	”140	”140	NOUN
iiclr-27370	323	2	this	this	DET
iiclr-27370	323	3	order	order	NOUN
iiclr-27370	323	4	calls	call	VERB
iiclr-27370	323	5	on	on	ADP
iiclr-27370	323	6	various	various	ADJ
iiclr-27370	323	7	governmental	governmental	ADJ
iiclr-27370	323	8	entities	entity	NOUN
iiclr-27370	323	9	,	,	PUNCT
iiclr-27370	323	10	including	include	VERB
iiclr-27370	323	11	the	the	DET
iiclr-27370	323	12	department	department	PROPN
iiclr-27370	323	13	of	of	ADP
iiclr-27370	323	14	commerce	commerce	PROPN
iiclr-27370	323	15	,	,	PUNCT
iiclr-27370	323	16	the	the	DET
iiclr-27370	323	17	department	department	NOUN
iiclr-27370	323	18	of	of	ADP
iiclr-27370	323	19	the	the	DET
iiclr-27370	323	20	treasury	treasury	NOUN
iiclr-27370	323	21	,	,	PUNCT
iiclr-27370	323	22	and	and	CCONJ
iiclr-27370	323	23	the	the	DET
iiclr-27370	323	24	federal	federal	PROPN
iiclr-27370	323	25	reserve	reserve	PROPN
iiclr-27370	323	26	,	,	PUNCT
iiclr-27370	323	27	to	to	PART
iiclr-27370	323	28	coordinate	coordinate	VERB
iiclr-27370	323	29	their	their	PRON
iiclr-27370	323	30	work	work	NOUN
iiclr-27370	323	31	on	on	ADP
iiclr-27370	323	32	digital	digital	ADJ
iiclr-27370	323	33	currencies	currency	NOUN
iiclr-27370	323	34	in	in	ADP
iiclr-27370	323	35	an	an	DET
iiclr-27370	323	36	attempt	attempt	NOUN
iiclr-27370	323	37	to	to	PART
iiclr-27370	323	38	effectuate	effectuate	VERB
iiclr-27370	323	39	something	something	PRON
iiclr-27370	323	40	that	that	PRON
iiclr-27370	323	41	resembles	resemble	VERB
iiclr-27370	323	42	,	,	PUNCT
iiclr-27370	323	43	at	at	ADP
iiclr-27370	323	44	least	least	ADJ
iiclr-27370	323	45	to	to	ADP
iiclr-27370	323	46	a	a	DET
iiclr-27370	323	47	more	more	ADV
iiclr-27370	323	48	significant	significant	ADJ
iiclr-27370	323	49	degree	degree	NOUN
iiclr-27370	323	50	,	,	PUNCT
iiclr-27370	323	51	an	an	DET
iiclr-27370	323	52	authoritative	authoritative	ADJ
iiclr-27370	323	53	blanket	blanket	NOUN
iiclr-27370	323	54	regulation.141	regulation.141	VERB
iiclr-27370	323	55	the	the	DET
iiclr-27370	323	56	order	order	NOUN
iiclr-27370	323	57	also	also	ADV
iiclr-27370	323	58	tasks	task	VERB
iiclr-27370	323	59	agencies	agency	NOUN
iiclr-27370	323	60	with	with	ADP
iiclr-27370	323	61	examining	examine	VERB
iiclr-27370	323	62	relevant	relevant	ADJ
iiclr-27370	323	63	topics	topic	NOUN
iiclr-27370	323	64	within	within	ADP
iiclr-27370	323	65	the	the	DET
iiclr-27370	323	66	cryptocurrency	cryptocurrency	NOUN
iiclr-27370	323	67	sphere	sphere	NOUN
iiclr-27370	323	68	,	,	PUNCT
iiclr-27370	323	69	such	such	ADJ
iiclr-27370	323	70	as	as	ADP
iiclr-27370	323	71	the	the	DET
iiclr-27370	323	72	creation	creation	NOUN
iiclr-27370	323	73	of	of	ADP
iiclr-27370	323	74	a	a	DET
iiclr-27370	323	75	u.s	u.s	PROPN
iiclr-27370	323	76	.	.	PROPN
iiclr-27370	323	77	central	central	PROPN
iiclr-27370	323	78	bank	bank	PROPN
iiclr-27370	323	79	digital	digital	ADJ
iiclr-27370	323	80	currency	currency	NOUN
iiclr-27370	323	81	and	and	CCONJ
iiclr-27370	323	82	ways	way	NOUN
iiclr-27370	323	83	to	to	PART
iiclr-27370	323	84	mitigate	mitigate	VERB
iiclr-27370	323	85	the	the	DET
iiclr-27370	323	86	use	use	NOUN
iiclr-27370	323	87	of	of	ADP
iiclr-27370	323	88	crypto	crypto	NOUN
iiclr-27370	323	89	in	in	ADP
iiclr-27370	323	90	the	the	DET
iiclr-27370	323	91	context	context	NOUN
iiclr-27370	323	92	of	of	ADP
iiclr-27370	323	93	illicit	illicit	ADJ
iiclr-27370	323	94	finance	finance	NOUN
iiclr-27370	323	95	,	,	PUNCT
iiclr-27370	323	96	and	and	CCONJ
iiclr-27370	323	97	further	far	ADV
iiclr-27370	323	98	requires	require	VERB
iiclr-27370	323	99	them	they	PRON
iiclr-27370	323	100	to	to	PART
iiclr-27370	323	101	report	report	VERB
iiclr-27370	323	102	their	their	PRON
iiclr-27370	323	103	findings	finding	NOUN
iiclr-27370	323	104	back	back	ADV
iiclr-27370	323	105	to	to	ADP
iiclr-27370	323	106	the	the	DET
iiclr-27370	323	107	executive	executive	ADJ
iiclr-27370	323	108	branch.142	branch.142	PROPN
iiclr-27370	323	109	while	while	SCONJ
iiclr-27370	323	110	this	this	DET
iiclr-27370	323	111	order	order	NOUN
iiclr-27370	323	112	does	do	AUX
iiclr-27370	323	113	seem	seem	VERB
iiclr-27370	323	114	to	to	PART
iiclr-27370	323	115	be	be	AUX
iiclr-27370	323	116	a	a	DET
iiclr-27370	323	117	step	step	NOUN
iiclr-27370	323	118	in	in	ADP
iiclr-27370	323	119	the	the	DET
iiclr-27370	323	120	right	right	ADJ
iiclr-27370	323	121	direction	direction	NOUN
iiclr-27370	323	122	,	,	PUNCT
iiclr-27370	323	123	it	it	PRON
iiclr-27370	323	124	is	be	AUX
iiclr-27370	323	125	a	a	DET
iiclr-27370	323	126	small	small	ADJ
iiclr-27370	323	127	step	step	NOUN
iiclr-27370	323	128	,	,	PUNCT
iiclr-27370	323	129	as	as	SCONJ
iiclr-27370	323	130	it	it	PRON
iiclr-27370	323	131	mandates	mandate	VERB
iiclr-27370	323	132	only	only	ADV
iiclr-27370	323	133	that	that	SCONJ
iiclr-27370	323	134	these	these	DET
iiclr-27370	323	135	agencies	agency	NOUN
iiclr-27370	323	136	collaborate	collaborate	VERB
iiclr-27370	323	137	to	to	PART
iiclr-27370	323	138	conduct	conduct	VERB
iiclr-27370	323	139	initial	initial	ADJ
iiclr-27370	323	140	research	research	NOUN
iiclr-27370	323	141	and	and	CCONJ
iiclr-27370	323	142	134	134	NUM
iiclr-27370	323	143	.	.	PUNCT
iiclr-27370	324	1	i	i	PRON
iiclr-27370	324	2	d.	d.	PROPN
iiclr-27370	324	3	135	135	NUM
iiclr-27370	324	4	.	.	PUNCT
iiclr-27370	325	1	i	i	PRON
iiclr-27370	325	2	d.	d.	PROPN
iiclr-27370	325	3	136	136	NUM
iiclr-27370	325	4	.	.	PUNCT
iiclr-27370	326	1	jennifer	jennifer	PROPN
iiclr-27370	326	2	schonberger	schonberger	PROPN
iiclr-27370	326	3	,	,	PUNCT
iiclr-27370	326	4	white	white	PROPN
iiclr-27370	326	5	house	house	PROPN
iiclr-27370	326	6	to	to	PART
iiclr-27370	326	7	enter	enter	VERB
iiclr-27370	326	8	crypto	crypto	NOUN
iiclr-27370	326	9	regulation	regulation	NOUN
iiclr-27370	326	10	fray	fray	NOUN
iiclr-27370	326	11	,	,	PUNCT
iiclr-27370	326	12	with	with	ADP
iiclr-27370	326	13	eye	eye	NOUN
iiclr-27370	326	14	on	on	ADP
iiclr-27370	326	15	financial	financial	ADJ
iiclr-27370	326	16	stability	stability	NOUN
iiclr-27370	326	17	,	,	PUNCT
iiclr-27370	326	18	yahoo	yahoo	PROPN
iiclr-27370	326	19	(	(	PUNCT
iiclr-27370	326	20	jan	jan	PROPN
iiclr-27370	326	21	.	.	PROPN
iiclr-27370	326	22	25	25	NUM
iiclr-27370	326	23	,	,	PUNCT
iiclr-27370	326	24	2022	2022	NUM
iiclr-27370	326	25	)	)	PUNCT
iiclr-27370	326	26	,	,	PUNCT
iiclr-27370	326	27	https://news.yahoo.com/white-house-to-enter-the-frayon-crypto-regulation-with-an-eye-on-illicit-flows-080056833.html	https://news.yahoo.com/white-house-to-enter-the-frayon-crypto-regulation-with-an-eye-on-illicit-flows-080056833.html	PUNCT
iiclr-27370	327	1	[	[	X
iiclr-27370	327	2	https://perma.cc/8yfy-6lrj	https://perma.cc/8yfy-6lrj	X
iiclr-27370	327	3	]	]	X
iiclr-27370	327	4	.	.	PUNCT
iiclr-27370	328	1	137	137	NUM
iiclr-27370	328	2	.	.	PUNCT
iiclr-27370	329	1	i	i	PRON
iiclr-27370	329	2	d.	d.	PROPN
iiclr-27370	329	3	138	138	NUM
iiclr-27370	329	4	.	.	PUNCT
iiclr-27370	330	1	exec	exec	PROPN
iiclr-27370	330	2	.	.	PUNCT
iiclr-27370	331	1	order	order	NOUN
iiclr-27370	331	2	no	no	INTJ
iiclr-27370	331	3	.	.	NOUN
iiclr-27370	332	1	14067	14067	NUM
iiclr-27370	332	2	,	,	PUNCT
iiclr-27370	332	3	3	3	NUM
iiclr-27370	332	4	c.f.r	c.f.r	NOUN
iiclr-27370	332	5	.	.	PUNCT
iiclr-27370	333	1	14143	14143	NUM
iiclr-27370	333	2	(	(	PUNCT
iiclr-27370	333	3	2022	2022	NUM
iiclr-27370	333	4	)	)	PUNCT
iiclr-27370	333	5	.	.	PUNCT
iiclr-27370	334	1	139	139	NUM
iiclr-27370	334	2	.	.	PUNCT
iiclr-27370	335	1	i	i	PRON
iiclr-27370	335	2	d.	d.	PROPN
iiclr-27370	335	3	140	140	NUM
iiclr-27370	335	4	.	.	PUNCT
iiclr-27370	336	1	i	i	PRON
iiclr-27370	336	2	d.	d.	PROPN
iiclr-27370	336	3	141	141	NUM
iiclr-27370	336	4	.	.	PUNCT
iiclr-27370	337	1	i	i	PRON
iiclr-27370	337	2	d.	d.	PROPN
iiclr-27370	337	3	142	142	NUM
iiclr-27370	337	4	.	.	PUNCT
iiclr-27370	338	1	i	i	PRON
iiclr-27370	338	2	d.	d.	PROPN
iiclr-27370	338	3	208	208	NUM
iiclr-27370	338	4	indiana	indiana	PROPN
iiclr-27370	338	5	int’l	int’l	NUM
iiclr-27370	338	6	&	&	CCONJ
iiclr-27370	338	7	comp	comp	PROPN
iiclr-27370	338	8	.	.	PUNCT
iiclr-27370	339	1	law	law	NOUN
iiclr-27370	339	2	review	review	NOUN
iiclr-27370	340	1	[	[	X
iiclr-27370	340	2	vol	vol	NOUN
iiclr-27370	340	3	.	.	PUNCT
iiclr-27370	341	1	33:191	33:191	NUM
iiclr-27370	341	2	does	do	AUX
iiclr-27370	341	3	not	not	PART
iiclr-27370	341	4	constitute	constitute	VERB
iiclr-27370	341	5	any	any	DET
iiclr-27370	341	6	substantive	substantive	ADJ
iiclr-27370	341	7	change	change	NOUN
iiclr-27370	341	8	in	in	ADP
iiclr-27370	341	9	the	the	DET
iiclr-27370	341	10	american	american	ADJ
iiclr-27370	341	11	regulatory	regulatory	PROPN
iiclr-27370	341	12	framework.143	framework.143	NOUN
iiclr-27370	341	13	nonetheless	nonetheless	ADV
iiclr-27370	341	14	,	,	PUNCT
iiclr-27370	341	15	this	this	DET
iiclr-27370	341	16	order	order	NOUN
iiclr-27370	341	17	makes	make	VERB
iiclr-27370	341	18	it	it	PRON
iiclr-27370	341	19	clear	clear	ADJ
iiclr-27370	341	20	that	that	SCONJ
iiclr-27370	341	21	the	the	DET
iiclr-27370	341	22	biden	biden	PROPN
iiclr-27370	341	23	administration	administration	PROPN
iiclr-27370	341	24	prioritizes	prioritize	VERB
iiclr-27370	341	25	the	the	DET
iiclr-27370	341	26	establishment	establishment	NOUN
iiclr-27370	341	27	of	of	ADP
iiclr-27370	341	28	adequate	adequate	ADJ
iiclr-27370	341	29	cryptocurrency	cryptocurrency	NOUN
iiclr-27370	341	30	regulation	regulation	NOUN
iiclr-27370	341	31	in	in	ADP
iiclr-27370	341	32	order	order	NOUN
iiclr-27370	341	33	to	to	PART
iiclr-27370	341	34	quell	quell	VERB
iiclr-27370	341	35	the	the	DET
iiclr-27370	341	36	financial	financial	ADJ
iiclr-27370	341	37	instability	instability	NOUN
iiclr-27370	341	38	,	,	PUNCT
iiclr-27370	341	39	national	national	ADJ
iiclr-27370	341	40	security	security	NOUN
iiclr-27370	341	41	,	,	PUNCT
iiclr-27370	341	42	and	and	CCONJ
iiclr-27370	341	43	illicit	illicit	ADJ
iiclr-27370	341	44	finance	finance	NOUN
iiclr-27370	341	45	issues	issue	NOUN
iiclr-27370	341	46	that	that	PRON
iiclr-27370	341	47	have	have	AUX
iiclr-27370	341	48	arisen	arise	VERB
iiclr-27370	341	49	from	from	ADP
iiclr-27370	341	50	the	the	DET
iiclr-27370	341	51	current	current	ADJ
iiclr-27370	341	52	lack	lack	NOUN
iiclr-27370	341	53	of	of	ADP
iiclr-27370	341	54	federal	federal	ADJ
iiclr-27370	341	55	regulation.144	regulation.144	ADP
iiclr-27370	341	56	the	the	DET
iiclr-27370	341	57	governmental	governmental	ADJ
iiclr-27370	341	58	interest	interest	NOUN
iiclr-27370	341	59	in	in	ADP
iiclr-27370	341	60	cryptocurrency	cryptocurrency	NOUN
iiclr-27370	341	61	does	do	AUX
iiclr-27370	341	62	not	not	PART
iiclr-27370	341	63	stop	stop	VERB
iiclr-27370	341	64	at	at	ADP
iiclr-27370	341	65	the	the	DET
iiclr-27370	341	66	white	white	PROPN
iiclr-27370	341	67	house	house	PROPN
iiclr-27370	341	68	.	.	PUNCT
iiclr-27370	342	1	on	on	ADP
iiclr-27370	342	2	june	june	PROPN
iiclr-27370	342	3	7	7	NUM
iiclr-27370	342	4	,	,	PUNCT
iiclr-27370	342	5	2022	2022	NUM
iiclr-27370	342	6	,	,	PUNCT
iiclr-27370	342	7	kirsten	kirsten	PROPN
iiclr-27370	342	8	gillibrand	gillibrand	PROPN
iiclr-27370	342	9	,	,	PUNCT
iiclr-27370	342	10	a	a	DET
iiclr-27370	342	11	democratic	democratic	ADJ
iiclr-27370	342	12	senator	senator	NOUN
iiclr-27370	342	13	from	from	ADP
iiclr-27370	342	14	new	new	PROPN
iiclr-27370	342	15	york	york	PROPN
iiclr-27370	342	16	,	,	PUNCT
iiclr-27370	342	17	and	and	CCONJ
iiclr-27370	342	18	cynthia	cynthia	PROPN
iiclr-27370	342	19	lummis	lummis	PROPN
iiclr-27370	342	20	,	,	PUNCT
iiclr-27370	342	21	a	a	DET
iiclr-27370	342	22	republican	republican	ADJ
iiclr-27370	342	23	senator	senator	NOUN
iiclr-27370	342	24	from	from	ADP
iiclr-27370	342	25	wyoming	wyoming	PROPN
iiclr-27370	342	26	,	,	PUNCT
iiclr-27370	342	27	introduced	introduce	VERB
iiclr-27370	342	28	the	the	DET
iiclr-27370	342	29	responsible	responsible	ADJ
iiclr-27370	342	30	financial	financial	ADJ
iiclr-27370	342	31	innovation	innovation	NOUN
iiclr-27370	342	32	act.145	act.145	NOUN
iiclr-27370	342	33	this	this	DET
iiclr-27370	342	34	bipartisan	bipartisan	ADJ
iiclr-27370	342	35	legislation	legislation	NOUN
iiclr-27370	342	36	,	,	PUNCT
iiclr-27370	342	37	if	if	SCONJ
iiclr-27370	342	38	passed	pass	VERB
iiclr-27370	342	39	,	,	PUNCT
iiclr-27370	342	40	would	would	AUX
iiclr-27370	342	41	aim	aim	VERB
iiclr-27370	342	42	to	to	PART
iiclr-27370	342	43	create	create	VERB
iiclr-27370	342	44	a	a	DET
iiclr-27370	342	45	more	more	ADV
iiclr-27370	342	46	complete	complete	ADJ
iiclr-27370	342	47	regulatory	regulatory	ADJ
iiclr-27370	342	48	cryptocurrency	cryptocurrency	NOUN
iiclr-27370	342	49	framework	framework	NOUN
iiclr-27370	342	50	that	that	PRON
iiclr-27370	342	51	would	would	AUX
iiclr-27370	342	52	encourage	encourage	VERB
iiclr-27370	342	53	“	"	PUNCT
iiclr-27370	342	54	responsible	responsible	ADJ
iiclr-27370	342	55	financial	financial	ADJ
iiclr-27370	342	56	innovation	innovation	NOUN
iiclr-27370	342	57	,	,	PUNCT
iiclr-27370	342	58	flexibility	flexibility	NOUN
iiclr-27370	342	59	,	,	PUNCT
iiclr-27370	342	60	transparency	transparency	NOUN
iiclr-27370	342	61	,	,	PUNCT
iiclr-27370	342	62	and	and	CCONJ
iiclr-27370	342	63	robust	robust	ADJ
iiclr-27370	342	64	consumer	consumer	NOUN
iiclr-27370	342	65	protections	protection	NOUN
iiclr-27370	342	66	while	while	SCONJ
iiclr-27370	342	67	integrating	integrate	VERB
iiclr-27370	342	68	digital	digital	ADJ
iiclr-27370	342	69	assets	asset	NOUN
iiclr-27370	342	70	into	into	ADP
iiclr-27370	342	71	existing	exist	VERB
iiclr-27370	342	72	law	law	NOUN
iiclr-27370	342	73	.	.	PUNCT
iiclr-27370	342	74	”146	”146	PUNCT
iiclr-27370	343	1	this	this	DET
iiclr-27370	343	2	proposed	propose	VERB
iiclr-27370	343	3	act	act	NOUN
iiclr-27370	343	4	addresses	address	NOUN
iiclr-27370	343	5	a	a	DET
iiclr-27370	343	6	plethora	plethora	NOUN
iiclr-27370	343	7	of	of	ADP
iiclr-27370	343	8	problems	problem	NOUN
iiclr-27370	343	9	within	within	ADP
iiclr-27370	343	10	the	the	DET
iiclr-27370	343	11	cryptocurrency	cryptocurrency	NOUN
iiclr-27370	343	12	space	space	NOUN
iiclr-27370	343	13	and	and	CCONJ
iiclr-27370	343	14	,	,	PUNCT
iiclr-27370	343	15	among	among	ADP
iiclr-27370	343	16	other	other	ADJ
iiclr-27370	343	17	objectives	objective	NOUN
iiclr-27370	343	18	,	,	PUNCT
iiclr-27370	343	19	seeks	seek	VERB
iiclr-27370	343	20	to	to	PART
iiclr-27370	343	21	more	more	ADV
iiclr-27370	343	22	clearly	clearly	ADV
iiclr-27370	343	23	define	define	VERB
iiclr-27370	343	24	what	what	PRON
iiclr-27370	343	25	a	a	DET
iiclr-27370	343	26	cryptocurrency	cryptocurrency	NOUN
iiclr-27370	343	27	is	be	AUX
iiclr-27370	343	28	,	,	PUNCT
iiclr-27370	343	29	mandate	mandate	VERB
iiclr-27370	343	30	ongoing	ongoing	ADJ
iiclr-27370	343	31	cryptocurrency	cryptocurrency	NOUN
iiclr-27370	343	32	research	research	NOUN
iiclr-27370	343	33	,	,	PUNCT
iiclr-27370	343	34	create	create	VERB
iiclr-27370	343	35	a	a	DET
iiclr-27370	343	36	workable	workable	ADJ
iiclr-27370	343	37	structure	structure	NOUN
iiclr-27370	343	38	for	for	ADP
iiclr-27370	343	39	the	the	DET
iiclr-27370	343	40	taxation	taxation	NOUN
iiclr-27370	343	41	of	of	ADP
iiclr-27370	343	42	digital	digital	ADJ
iiclr-27370	343	43	assets	asset	NOUN
iiclr-27370	343	44	,	,	PUNCT
iiclr-27370	343	45	and	and	CCONJ
iiclr-27370	343	46	develop	develop	VERB
iiclr-27370	343	47	a	a	DET
iiclr-27370	343	48	regulatory	regulatory	ADJ
iiclr-27370	343	49	sandbox	sandbox	NOUN
iiclr-27370	343	50	for	for	ADP
iiclr-27370	343	51	state	state	NOUN
iiclr-27370	343	52	and	and	CCONJ
iiclr-27370	343	53	federal	federal	ADJ
iiclr-27370	343	54	regulators	regulator	NOUN
iiclr-27370	343	55	to	to	PART
iiclr-27370	343	56	collaborate	collaborate	VERB
iiclr-27370	343	57	on	on	ADP
iiclr-27370	343	58	financial	financial	ADJ
iiclr-27370	343	59	technologies.147	technologies.147	PROPN
iiclr-27370	343	60	if	if	SCONJ
iiclr-27370	343	61	passed	pass	VERB
iiclr-27370	343	62	,	,	PUNCT
iiclr-27370	343	63	this	this	DET
iiclr-27370	343	64	act	act	NOUN
iiclr-27370	343	65	would	would	AUX
iiclr-27370	343	66	delegate	delegate	VERB
iiclr-27370	343	67	regulatory	regulatory	ADJ
iiclr-27370	343	68	authority	authority	NOUN
iiclr-27370	343	69	to	to	ADP
iiclr-27370	343	70	both	both	DET
iiclr-27370	343	71	the	the	DET
iiclr-27370	343	72	commodities	commodity	NOUN
iiclr-27370	343	73	future	future	ADJ
iiclr-27370	343	74	trading	trading	NOUN
iiclr-27370	343	75	commission	commission	NOUN
iiclr-27370	343	76	and	and	CCONJ
iiclr-27370	343	77	the	the	DET
iiclr-27370	343	78	securities	securities	PROPN
iiclr-27370	343	79	and	and	CCONJ
iiclr-27370	343	80	exchange	exchange	PROPN
iiclr-27370	343	81	commission	commission	PROPN
iiclr-27370	343	82	,	,	PUNCT
iiclr-27370	343	83	tasking	task	VERB
iiclr-27370	343	84	the	the	DET
iiclr-27370	343	85	agencies	agency	NOUN
iiclr-27370	343	86	to	to	PART
iiclr-27370	343	87	jointly	jointly	ADV
iiclr-27370	343	88	create	create	VERB
iiclr-27370	343	89	a	a	DET
iiclr-27370	343	90	self	self	NOUN
iiclr-27370	343	91	-	-	PUNCT
iiclr-27370	343	92	regulatory	regulatory	ADJ
iiclr-27370	343	93	organization	organization	NOUN
iiclr-27370	343	94	to	to	PART
iiclr-27370	343	95	aid	aid	VERB
iiclr-27370	343	96	their	their	PRON
iiclr-27370	343	97	efforts.148	efforts.148	NOUN
iiclr-27370	343	98	at	at	ADP
iiclr-27370	343	99	this	this	DET
iiclr-27370	343	100	juncture	juncture	NOUN
iiclr-27370	343	101	,	,	PUNCT
iiclr-27370	343	102	this	this	DET
iiclr-27370	343	103	act	act	NOUN
iiclr-27370	343	104	is	be	AUX
iiclr-27370	343	105	only	only	ADV
iiclr-27370	343	106	a	a	DET
iiclr-27370	343	107	proposal	proposal	NOUN
iiclr-27370	343	108	—	—	PUNCT
iiclr-27370	343	109	however	however	ADV
iiclr-27370	343	110	,	,	PUNCT
iiclr-27370	343	111	it	it	PRON
iiclr-27370	343	112	is	be	AUX
iiclr-27370	343	113	clear	clear	ADJ
iiclr-27370	343	114	that	that	SCONJ
iiclr-27370	343	115	in	in	ADP
iiclr-27370	343	116	drafting	draft	VERB
iiclr-27370	343	117	it	it	PRON
iiclr-27370	343	118	,	,	PUNCT
iiclr-27370	343	119	senators	senator	NOUN
iiclr-27370	343	120	lummis	lummi	VERB
iiclr-27370	343	121	and	and	CCONJ
iiclr-27370	343	122	gillibrand	gillibrand	PROPN
iiclr-27370	343	123	recognized	recognize	VERB
iiclr-27370	343	124	the	the	DET
iiclr-27370	343	125	glaring	glare	VERB
iiclr-27370	343	126	need	need	NOUN
iiclr-27370	343	127	for	for	ADP
iiclr-27370	343	128	a	a	DET
iiclr-27370	343	129	more	more	ADV
iiclr-27370	343	130	effective	effective	ADJ
iiclr-27370	343	131	scheme	scheme	NOUN
iiclr-27370	343	132	to	to	PART
iiclr-27370	343	133	regulate	regulate	VERB
iiclr-27370	343	134	cryptocurrency	cryptocurrency	NOUN
iiclr-27370	343	135	in	in	ADP
iiclr-27370	343	136	america.149	america.149	SYM
iiclr-27370	343	137	further	far	ADV
iiclr-27370	343	138	,	,	PUNCT
iiclr-27370	343	139	even	even	ADV
iiclr-27370	343	140	non	non	ADJ
iiclr-27370	343	141	-	-	ADJ
iiclr-27370	343	142	governmental	governmental	ADJ
iiclr-27370	343	143	entities	entity	NOUN
iiclr-27370	343	144	have	have	AUX
iiclr-27370	343	145	recognized	recognize	VERB
iiclr-27370	343	146	the	the	DET
iiclr-27370	343	147	need	need	NOUN
iiclr-27370	343	148	for	for	ADP
iiclr-27370	343	149	effective	effective	ADJ
iiclr-27370	343	150	cryptocurrency	cryptocurrency	NOUN
iiclr-27370	343	151	regulation	regulation	NOUN
iiclr-27370	343	152	within	within	ADP
iiclr-27370	343	153	the	the	DET
iiclr-27370	343	154	united	united	PROPN
iiclr-27370	343	155	states	states	PROPN
iiclr-27370	343	156	.	.	PUNCT
iiclr-27370	344	1	coinbase	coinbase	PROPN
iiclr-27370	344	2	,	,	PUNCT
iiclr-27370	344	3	a	a	DET
iiclr-27370	344	4	massively	massively	ADV
iiclr-27370	344	5	popular	popular	ADJ
iiclr-27370	344	6	cryptocurrency	cryptocurrency	NOUN
iiclr-27370	344	7	exchange	exchange	NOUN
iiclr-27370	344	8	,	,	PUNCT
iiclr-27370	344	9	released	release	VERB
iiclr-27370	344	10	a	a	DET
iiclr-27370	344	11	policy	policy	NOUN
iiclr-27370	344	12	paper	paper	NOUN
iiclr-27370	344	13	in	in	ADP
iiclr-27370	344	14	october	october	PROPN
iiclr-27370	344	15	2021	2021	NUM
iiclr-27370	344	16	,	,	PUNCT
iiclr-27370	344	17	stating	state	VERB
iiclr-27370	344	18	that	that	SCONJ
iiclr-27370	344	19	the	the	DET
iiclr-27370	344	20	united	united	PROPN
iiclr-27370	344	21	states	states	PROPN
iiclr-27370	344	22	is	be	AUX
iiclr-27370	344	23	in	in	ADP
iiclr-27370	344	24	desperate	desperate	ADJ
iiclr-27370	344	25	need	need	NOUN
iiclr-27370	344	26	of	of	ADP
iiclr-27370	344	27	regulation	regulation	NOUN
iiclr-27370	344	28	and	and	CCONJ
iiclr-27370	344	29	laying	lay	VERB
iiclr-27370	344	30	out	out	ADP
iiclr-27370	344	31	its	its	PRON
iiclr-27370	344	32	vision	vision	NOUN
iiclr-27370	344	33	for	for	ADP
iiclr-27370	344	34	how	how	SCONJ
iiclr-27370	344	35	the	the	DET
iiclr-27370	344	36	united	united	PROPN
iiclr-27370	344	37	states	states	PROPN
iiclr-27370	344	38	should	should	AUX
iiclr-27370	344	39	regulate	regulate	VERB
iiclr-27370	344	40	cryptocurrency.150	cryptocurrency.150	VERB
iiclr-27370	344	41	this	this	DET
iiclr-27370	344	42	proposal	proposal	NOUN
iiclr-27370	344	43	was	be	AUX
iiclr-27370	344	44	crafted	craft	VERB
iiclr-27370	344	45	on	on	ADP
iiclr-27370	344	46	the	the	DET
iiclr-27370	344	47	premise	premise	NOUN
iiclr-27370	344	48	that	that	SCONJ
iiclr-27370	344	49	by	by	ADP
iiclr-27370	344	50	failing	fail	VERB
iiclr-27370	344	51	to	to	PART
iiclr-27370	344	52	implement	implement	VERB
iiclr-27370	344	53	uniform	uniform	ADJ
iiclr-27370	344	54	regulation	regulation	NOUN
iiclr-27370	344	55	,	,	PUNCT
iiclr-27370	344	56	the	the	DET
iiclr-27370	344	57	united	united	PROPN
iiclr-27370	344	58	states	states	PROPN
iiclr-27370	344	59	has	have	AUX
iiclr-27370	344	60	already	already	ADV
iiclr-27370	344	61	fallen	fall	VERB
iiclr-27370	344	62	behind	behind	ADV
iiclr-27370	344	63	and	and	CCONJ
iiclr-27370	344	64	risks	risk	NOUN
iiclr-27370	344	65	falling	fall	VERB
iiclr-27370	344	66	even	even	ADV
iiclr-27370	344	67	further	far	ADV
iiclr-27370	344	68	behind	behind	ADP
iiclr-27370	344	69	other	other	ADJ
iiclr-27370	344	70	governments	government	NOUN
iiclr-27370	344	71	that	that	PRON
iiclr-27370	344	72	have	have	AUX
iiclr-27370	344	73	implemented	implement	VERB
iiclr-27370	344	74	regulation.151	regulation.151	NOUN
iiclr-27370	344	75	coinbase	coinbase	NOUN
iiclr-27370	344	76	143	143	PROPN
iiclr-27370	344	77	.	.	PUNCT
iiclr-27370	345	1	see	see	VERB
iiclr-27370	345	2	i	i	PRON
iiclr-27370	345	3	d.	d.	PROPN
iiclr-27370	345	4	144	144	NUM
iiclr-27370	345	5	.	.	PUNCT
iiclr-27370	346	1	see	see	VERB
iiclr-27370	346	2	i	i	PRON
iiclr-27370	346	3	d.	d.	PROPN
iiclr-27370	346	4	145	145	NUM
iiclr-27370	346	5	.	.	PUNCT
iiclr-27370	347	1	press	press	NOUN
iiclr-27370	347	2	release	release	NOUN
iiclr-27370	347	3	,	,	PUNCT
iiclr-27370	347	4	kirsten	kirsten	PROPN
iiclr-27370	347	5	gillibrand	gillibrand	PROPN
iiclr-27370	347	6	,	,	PUNCT
iiclr-27370	347	7	lummis	lummis	PROPN
iiclr-27370	347	8	,	,	PUNCT
iiclr-27370	347	9	gillibrand	gillibrand	NOUN
iiclr-27370	347	10	introduce	introduce	NOUN
iiclr-27370	347	11	landmark	landmark	NOUN
iiclr-27370	347	12	legislation	legislation	NOUN
iiclr-27370	347	13	to	to	PART
iiclr-27370	347	14	create	create	VERB
iiclr-27370	347	15	regulatory	regulatory	ADJ
iiclr-27370	347	16	framework	framework	NOUN
iiclr-27370	347	17	for	for	ADP
iiclr-27370	347	18	digital	digital	ADJ
iiclr-27370	347	19	assets	asset	NOUN
iiclr-27370	347	20	(	(	PUNCT
iiclr-27370	347	21	june	june	PROPN
iiclr-27370	347	22	7	7	NUM
iiclr-27370	347	23	,	,	PUNCT
iiclr-27370	347	24	2022	2022	NUM
iiclr-27370	347	25	)	)	PUNCT
iiclr-27370	347	26	,	,	PUNCT
iiclr-27370	347	27	https://www.gillibrand.s	https://www.gillibrand.s	X
iiclr-27370	347	28	enate.gov/news/press/release/-lummis-gillibrand-introduce-landmark-legislation-to-createregulatory-framework-for-digital-assets	enate.gov/news/press/release/-lummis-gillibrand-introduce-landmark-legislation-to-createregulatory-framework-for-digital-asset	VERB
iiclr-27370	348	1	[	[	X
iiclr-27370	348	2	https://perma.cc/hy97-8kzl	https://perma.cc/hy97-8kzl	X
iiclr-27370	348	3	]	]	X
iiclr-27370	348	4	.	.	PUNCT
iiclr-27370	349	1	146	146	NUM
iiclr-27370	349	2	.	.	PUNCT
iiclr-27370	350	1	i	i	PRON
iiclr-27370	350	2	d.	d.	PROPN
iiclr-27370	350	3	147	147	NUM
iiclr-27370	350	4	.	.	PUNCT
iiclr-27370	351	1	i	i	PRON
iiclr-27370	351	2	d.	d.	PROPN
iiclr-27370	351	3	148	148	NUM
iiclr-27370	351	4	.	.	PUNCT
iiclr-27370	352	1	i	i	PRON
iiclr-27370	352	2	d.	d.	PROPN
iiclr-27370	352	3	149	149	NUM
iiclr-27370	352	4	.	.	PUNCT
iiclr-27370	353	1	see	see	VERB
iiclr-27370	353	2	i	i	PRON
iiclr-27370	353	3	d.	d.	PROPN
iiclr-27370	353	4	150	150	NUM
iiclr-27370	353	5	.	.	PUNCT
iiclr-27370	354	1	lauren	lauren	PROPN
iiclr-27370	354	2	feiner	feiner	PROPN
iiclr-27370	354	3	,	,	PUNCT
iiclr-27370	354	4	coinbase	coinbase	PROPN
iiclr-27370	354	5	says	say	VERB
iiclr-27370	354	6	u.s	u.s	PROPN
iiclr-27370	354	7	.	.	PROPN
iiclr-27370	354	8	should	should	AUX
iiclr-27370	354	9	create	create	VERB
iiclr-27370	354	10	a	a	DET
iiclr-27370	354	11	new	new	ADJ
iiclr-27370	354	12	cryptocurrency	cryptocurrency	NOUN
iiclr-27370	354	13	regulator	regulator	NOUN
iiclr-27370	354	14	,	,	PUNCT
iiclr-27370	354	15	cnbc	cnbc	PROPN
iiclr-27370	354	16	(	(	PUNCT
iiclr-27370	354	17	oct	oct	PROPN
iiclr-27370	354	18	.	.	PROPN
iiclr-27370	354	19	14	14	NUM
iiclr-27370	354	20	,	,	PUNCT
iiclr-27370	354	21	2021	2021	NUM
iiclr-27370	354	22	)	)	PUNCT
iiclr-27370	354	23	,	,	PUNCT
iiclr-27370	355	1	https://www.cnbc.com/2021/10/14/coinbase-says-us-should-create-a-newcryptocurrency-regulator.html	https://www.cnbc.com/2021/10/14/coinbase-says-us-should-create-a-newcryptocurrency-regulator.html	PROPN
iiclr-27370	356	1	[	[	X
iiclr-27370	356	2	https://perma.cc/cd5n-6rfb	https://perma.cc/cd5n-6rfb	X
iiclr-27370	356	3	]	]	X
iiclr-27370	356	4	.	.	PUNCT
iiclr-27370	357	1	151	151	NUM
iiclr-27370	357	2	.	.	PUNCT
iiclr-27370	358	1	see	see	VERB
iiclr-27370	358	2	coinbase	coinbase	PROPN
iiclr-27370	358	3	,	,	PUNCT
iiclr-27370	358	4	digital	digital	ADJ
iiclr-27370	358	5	asset	asset	NOUN
iiclr-27370	358	6	policy	policy	NOUN
iiclr-27370	358	7	proposal	proposal	NOUN
iiclr-27370	358	8	7	7	NUM
iiclr-27370	358	9	(	(	PUNCT
iiclr-27370	358	10	2021	2021	NUM
iiclr-27370	358	11	)	)	PUNCT
iiclr-27370	358	12	,	,	PUNCT
iiclr-27370	358	13	https://assets.ctfassets.net/	https://assets.ctfassets.net/	NOUN
iiclr-27370	358	14	2023	2023	NUM
iiclr-27370	358	15	]	]	PUNCT
iiclr-27370	358	16	the	the	DET
iiclr-27370	358	17	wild	wild	ADJ
iiclr-27370	358	18	west	west	NOUN
iiclr-27370	358	19	,	,	PUNCT
iiclr-27370	358	20	cryptocurrency	cryptocurrency	NOUN
iiclr-27370	358	21	,	,	PUNCT
iiclr-27370	358	22	and	and	CCONJ
iiclr-27370	358	23	singapore	singapore	PROPN
iiclr-27370	358	24	209	209	NUM
iiclr-27370	358	25	called	call	VERB
iiclr-27370	358	26	for	for	SCONJ
iiclr-27370	358	27	the	the	DET
iiclr-27370	358	28	united	united	PROPN
iiclr-27370	358	29	states	states	PROPN
iiclr-27370	358	30	to	to	PART
iiclr-27370	358	31	abandon	abandon	VERB
iiclr-27370	358	32	its	its	PRON
iiclr-27370	358	33	agency	agency	NOUN
iiclr-27370	358	34	approach	approach	NOUN
iiclr-27370	358	35	and	and	CCONJ
iiclr-27370	358	36	appoint	appoint	VERB
iiclr-27370	358	37	only	only	ADV
iiclr-27370	358	38	one	one	NUM
iiclr-27370	358	39	regulator	regulator	NOUN
iiclr-27370	358	40	of	of	ADP
iiclr-27370	358	41	digital	digital	ADJ
iiclr-27370	358	42	assets.152	assets.152	NOUN
iiclr-27370	358	43	intriguingly	intriguingly	ADV
iiclr-27370	358	44	,	,	PUNCT
iiclr-27370	358	45	the	the	DET
iiclr-27370	358	46	report	report	NOUN
iiclr-27370	358	47	argues	argue	VERB
iiclr-27370	358	48	that	that	SCONJ
iiclr-27370	358	49	cryptocurrency	cryptocurrency	NOUN
iiclr-27370	358	50	should	should	AUX
iiclr-27370	358	51	not	not	PART
iiclr-27370	358	52	be	be	AUX
iiclr-27370	358	53	regulated	regulate	VERB
iiclr-27370	358	54	under	under	ADP
iiclr-27370	358	55	existing	exist	VERB
iiclr-27370	358	56	law	law	NOUN
iiclr-27370	358	57	,	,	PUNCT
iiclr-27370	358	58	but	but	CCONJ
iiclr-27370	358	59	under	under	ADP
iiclr-27370	358	60	a	a	DET
iiclr-27370	358	61	new	new	ADJ
iiclr-27370	358	62	regulatory	regulatory	ADJ
iiclr-27370	358	63	scheme	scheme	NOUN
iiclr-27370	358	64	promulgated	promulgate	VERB
iiclr-27370	358	65	strictly	strictly	ADV
iiclr-27370	358	66	for	for	ADP
iiclr-27370	358	67	the	the	DET
iiclr-27370	358	68	purpose	purpose	NOUN
iiclr-27370	358	69	of	of	ADP
iiclr-27370	358	70	regulating	regulate	VERB
iiclr-27370	358	71	cryptocurrency.153	cryptocurrency.153	NOUN
iiclr-27370	358	72	according	accord	VERB
iiclr-27370	358	73	to	to	ADP
iiclr-27370	358	74	coinbase	coinbase	PROPN
iiclr-27370	358	75	,	,	PUNCT
iiclr-27370	358	76	it	it	PRON
iiclr-27370	358	77	would	would	AUX
iiclr-27370	358	78	be	be	AUX
iiclr-27370	358	79	easier	easy	ADJ
iiclr-27370	358	80	to	to	PART
iiclr-27370	358	81	start	start	VERB
iiclr-27370	358	82	from	from	ADP
iiclr-27370	358	83	scratch	scratch	NOUN
iiclr-27370	358	84	than	than	SCONJ
iiclr-27370	358	85	it	it	PRON
iiclr-27370	358	86	would	would	AUX
iiclr-27370	358	87	be	be	AUX
iiclr-27370	358	88	to	to	PART
iiclr-27370	358	89	try	try	VERB
iiclr-27370	358	90	and	and	CCONJ
iiclr-27370	358	91	adapt	adapt	VERB
iiclr-27370	358	92	crypto	crypto	NOUN
iiclr-27370	358	93	to	to	ADP
iiclr-27370	358	94	the	the	DET
iiclr-27370	358	95	existing	exist	VERB
iiclr-27370	358	96	market	market	NOUN
iiclr-27370	358	97	structure	structure	NOUN
iiclr-27370	358	98	for	for	ADP
iiclr-27370	358	99	regulating	regulate	VERB
iiclr-27370	358	100	fiat	fiat	ADJ
iiclr-27370	358	101	and	and	CCONJ
iiclr-27370	358	102	other	other	ADJ
iiclr-27370	358	103	types	type	NOUN
iiclr-27370	358	104	of	of	ADP
iiclr-27370	358	105	currency.154	currency.154	NOUN
iiclr-27370	358	106	coinbase	coinbase	NOUN
iiclr-27370	358	107	has	have	AUX
iiclr-27370	358	108	met	meet	VERB
iiclr-27370	358	109	with	with	ADP
iiclr-27370	358	110	,	,	PUNCT
iiclr-27370	358	111	discussed	discuss	VERB
iiclr-27370	358	112	,	,	PUNCT
iiclr-27370	358	113	and	and	CCONJ
iiclr-27370	358	114	received	receive	VERB
iiclr-27370	358	115	positive	positive	ADJ
iiclr-27370	358	116	reactions	reaction	NOUN
iiclr-27370	358	117	to	to	ADP
iiclr-27370	358	118	this	this	DET
iiclr-27370	358	119	proposal	proposal	NOUN
iiclr-27370	358	120	from	from	ADP
iiclr-27370	358	121	several	several	ADJ
iiclr-27370	358	122	lawmakers	lawmaker	NOUN
iiclr-27370	358	123	and	and	CCONJ
iiclr-27370	358	124	various	various	ADJ
iiclr-27370	358	125	agencies.155	agencies.155	NOUN
iiclr-27370	358	126	the	the	DET
iiclr-27370	358	127	policy	policy	NOUN
iiclr-27370	358	128	report	report	NOUN
iiclr-27370	358	129	explains	explain	VERB
iiclr-27370	358	130	that	that	SCONJ
iiclr-27370	358	131	the	the	DET
iiclr-27370	358	132	exchange	exchange	NOUN
iiclr-27370	358	133	wants	want	VERB
iiclr-27370	358	134	a	a	DET
iiclr-27370	358	135	“	"	PUNCT
iiclr-27370	358	136	clear	clear	ADJ
iiclr-27370	358	137	and	and	CCONJ
iiclr-27370	358	138	comprehensive	comprehensive	ADJ
iiclr-27370	358	139	approach	approach	NOUN
iiclr-27370	358	140	to	to	ADP
iiclr-27370	358	141	regulating	regulate	VERB
iiclr-27370	358	142	digital	digital	ADJ
iiclr-27370	358	143	assets	asset	NOUN
iiclr-27370	358	144	”	"	PUNCT
iiclr-27370	358	145	and	and	CCONJ
iiclr-27370	358	146	“	"	PUNCT
iiclr-27370	358	147	regulation	regulation	NOUN
iiclr-27370	358	148	that	that	PRON
iiclr-27370	358	149	is	be	AUX
iiclr-27370	358	150	fit	fit	ADJ
iiclr-27370	358	151	for	for	ADP
iiclr-27370	358	152	purpose	purpose	NOUN
iiclr-27370	358	153	.	.	PUNCT
iiclr-27370	359	1	”156	”156	PROPN
iiclr-27370	360	1	the	the	DET
iiclr-27370	360	2	united	united	PROPN
iiclr-27370	360	3	states	states	PROPN
iiclr-27370	360	4	,	,	PUNCT
iiclr-27370	360	5	the	the	DET
iiclr-27370	360	6	report	report	NOUN
iiclr-27370	360	7	alleges	allege	VERB
iiclr-27370	360	8	,	,	PUNCT
iiclr-27370	360	9	is	be	AUX
iiclr-27370	360	10	at	at	ADP
iiclr-27370	360	11	risk	risk	NOUN
iiclr-27370	360	12	of	of	ADP
iiclr-27370	360	13	becoming	become	VERB
iiclr-27370	360	14	a	a	DET
iiclr-27370	360	15	“	"	PUNCT
iiclr-27370	360	16	taker	taker	NOUN
iiclr-27370	360	17	”	"	PUNCT
iiclr-27370	360	18	of	of	ADP
iiclr-27370	360	19	regulation	regulation	NOUN
iiclr-27370	360	20	,	,	PUNCT
iiclr-27370	360	21	rather	rather	ADV
iiclr-27370	360	22	than	than	ADP
iiclr-27370	360	23	a	a	DET
iiclr-27370	360	24	“	"	PUNCT
iiclr-27370	360	25	shaper	shaper	NOUN
iiclr-27370	360	26	”	"	PUNCT
iiclr-27370	360	27	of	of	ADP
iiclr-27370	360	28	modern	modern	ADJ
iiclr-27370	360	29	financial	financial	ADJ
iiclr-27370	360	30	services	service	NOUN
iiclr-27370	360	31	—	—	PUNCT
iiclr-27370	360	32	a	a	DET
iiclr-27370	360	33	position	position	NOUN
iiclr-27370	360	34	,	,	PUNCT
iiclr-27370	360	35	coinbase	coinbase	PROPN
iiclr-27370	360	36	opines	opine	VERB
iiclr-27370	360	37	,	,	PUNCT
iiclr-27370	360	38	that	that	SCONJ
iiclr-27370	360	39	the	the	DET
iiclr-27370	360	40	united	united	PROPN
iiclr-27370	360	41	states	states	PROPN
iiclr-27370	360	42	has	have	VERB
iiclr-27370	360	43	long	long	ADV
iiclr-27370	360	44	held.157	held.157	NOUN
iiclr-27370	360	45	the	the	DET
iiclr-27370	360	46	report	report	NOUN
iiclr-27370	360	47	advocates	advocate	VERB
iiclr-27370	360	48	for	for	ADP
iiclr-27370	360	49	four	four	NUM
iiclr-27370	360	50	major	major	ADJ
iiclr-27370	360	51	recommendations	recommendation	NOUN
iiclr-27370	360	52	:	:	PUNCT
iiclr-27370	360	53	(	(	PUNCT
iiclr-27370	360	54	1	1	X
iiclr-27370	360	55	)	)	PUNCT
iiclr-27370	360	56	that	that	SCONJ
iiclr-27370	360	57	the	the	DET
iiclr-27370	360	58	united	united	PROPN
iiclr-27370	360	59	states	states	PROPN
iiclr-27370	360	60	create	create	VERB
iiclr-27370	360	61	a	a	DET
iiclr-27370	360	62	new	new	ADJ
iiclr-27370	360	63	framework	framework	NOUN
iiclr-27370	360	64	for	for	ADP
iiclr-27370	360	65	regulating	regulate	VERB
iiclr-27370	360	66	cryptocurrency	cryptocurrency	NOUN
iiclr-27370	360	67	that	that	PRON
iiclr-27370	360	68	is	be	AUX
iiclr-27370	360	69	separate	separate	ADJ
iiclr-27370	360	70	from	from	ADP
iiclr-27370	360	71	its	its	PRON
iiclr-27370	360	72	current	current	ADJ
iiclr-27370	360	73	financial	financial	ADJ
iiclr-27370	360	74	system	system	NOUN
iiclr-27370	360	75	,	,	PUNCT
iiclr-27370	360	76	(	(	PUNCT
iiclr-27370	360	77	2	2	X
iiclr-27370	360	78	)	)	PUNCT
iiclr-27370	360	79	that	that	SCONJ
iiclr-27370	360	80	the	the	DET
iiclr-27370	360	81	responsibility	responsibility	NOUN
iiclr-27370	360	82	of	of	ADP
iiclr-27370	360	83	regulating	regulate	VERB
iiclr-27370	360	84	crypto	crypto	NOUN
iiclr-27370	360	85	markets	market	NOUN
iiclr-27370	360	86	is	be	AUX
iiclr-27370	360	87	given	give	VERB
iiclr-27370	360	88	to	to	ADP
iiclr-27370	360	89	a	a	DET
iiclr-27370	360	90	single	single	ADJ
iiclr-27370	360	91	federal	federal	ADJ
iiclr-27370	360	92	authority	authority	NOUN
iiclr-27370	360	93	in	in	ADP
iiclr-27370	360	94	addition	addition	NOUN
iiclr-27370	360	95	to	to	ADP
iiclr-27370	360	96	a	a	DET
iiclr-27370	360	97	non	non	ADJ
iiclr-27370	360	98	-	-	ADJ
iiclr-27370	360	99	governmental	governmental	ADJ
iiclr-27370	360	100	self	self	NOUN
iiclr-27370	360	101	-	-	PUNCT
iiclr-27370	360	102	regulatory	regulatory	ADJ
iiclr-27370	360	103	organization	organization	NOUN
iiclr-27370	360	104	,	,	PUNCT
iiclr-27370	360	105	(	(	PUNCT
iiclr-27370	360	106	3	3	X
iiclr-27370	360	107	)	)	PUNCT
iiclr-27370	360	108	that	that	SCONJ
iiclr-27370	360	109	the	the	DET
iiclr-27370	360	110	united	united	PROPN
iiclr-27370	360	111	states	states	PROPN
iiclr-27370	360	112	take	take	VERB
iiclr-27370	360	113	measures	measure	NOUN
iiclr-27370	360	114	to	to	PART
iiclr-27370	360	115	protect	protect	VERB
iiclr-27370	360	116	digital	digital	ADJ
iiclr-27370	360	117	currency	currency	NOUN
iiclr-27370	360	118	holders	holder	NOUN
iiclr-27370	360	119	from	from	ADP
iiclr-27370	360	120	fraud	fraud	NOUN
iiclr-27370	360	121	and	and	CCONJ
iiclr-27370	360	122	market	market	NOUN
iiclr-27370	360	123	manipulation	manipulation	NOUN
iiclr-27370	360	124	and	and	CCONJ
iiclr-27370	360	125	that	that	SCONJ
iiclr-27370	360	126	the	the	DET
iiclr-27370	360	127	government	government	NOUN
iiclr-27370	360	128	require	require	VERB
iiclr-27370	360	129	disclosures	disclosure	NOUN
iiclr-27370	360	130	to	to	PART
iiclr-27370	360	131	ensure	ensure	VERB
iiclr-27370	360	132	transparency	transparency	NOUN
iiclr-27370	360	133	,	,	PUNCT
iiclr-27370	360	134	and	and	CCONJ
iiclr-27370	360	135	(	(	PUNCT
iiclr-27370	360	136	4	4	X
iiclr-27370	360	137	)	)	PUNCT
iiclr-27370	360	138	that	that	SCONJ
iiclr-27370	360	139	the	the	DET
iiclr-27370	360	140	united	united	PROPN
iiclr-27370	360	141	states	states	PROPN
iiclr-27370	360	142	promotes	promote	VERB
iiclr-27370	360	143	fair	fair	ADJ
iiclr-27370	360	144	competition	competition	NOUN
iiclr-27370	360	145	and	and	CCONJ
iiclr-27370	360	146	interoperability	interoperability	NOUN
iiclr-27370	360	147	between	between	ADP
iiclr-27370	360	148	cryptocurrency	cryptocurrency	NOUN
iiclr-27370	360	149	products.158	products.158	NOUN
iiclr-27370	360	150	the	the	DET
iiclr-27370	360	151	united	united	PROPN
iiclr-27370	360	152	states	states	PROPN
iiclr-27370	360	153	’	’	PART
iiclr-27370	360	154	current	current	ADJ
iiclr-27370	360	155	approach	approach	NOUN
iiclr-27370	360	156	to	to	ADP
iiclr-27370	360	157	cryptocurrency	cryptocurrency	NOUN
iiclr-27370	360	158	regulation	regulation	NOUN
iiclr-27370	360	159	has	have	AUX
iiclr-27370	360	160	caused	cause	VERB
iiclr-27370	360	161	a	a	DET
iiclr-27370	360	162	litany	litany	NOUN
iiclr-27370	360	163	of	of	ADP
iiclr-27370	360	164	issues	issue	NOUN
iiclr-27370	360	165	,	,	PUNCT
iiclr-27370	360	166	concerns	concern	NOUN
iiclr-27370	360	167	,	,	PUNCT
iiclr-27370	360	168	and	and	CCONJ
iiclr-27370	360	169	confusion	confusion	NOUN
iiclr-27370	360	170	.	.	PUNCT
iiclr-27370	361	1	allowing	allow	VERB
iiclr-27370	361	2	multiple	multiple	ADJ
iiclr-27370	361	3	governmental	governmental	ADJ
iiclr-27370	361	4	agencies	agency	NOUN
iiclr-27370	361	5	to	to	PART
iiclr-27370	361	6	each	each	PRON
iiclr-27370	361	7	promulgate	promulgate	VERB
iiclr-27370	361	8	its	its	PRON
iiclr-27370	361	9	own	own	ADJ
iiclr-27370	361	10	rules	rule	NOUN
iiclr-27370	361	11	and	and	CCONJ
iiclr-27370	361	12	regulations	regulation	NOUN
iiclr-27370	361	13	concerning	concern	VERB
iiclr-27370	361	14	cryptocurrency	cryptocurrency	NOUN
iiclr-27370	361	15	has	have	AUX
iiclr-27370	361	16	effectively	effectively	ADV
iiclr-27370	361	17	led	lead	VERB
iiclr-27370	361	18	to	to	ADP
iiclr-27370	361	19	a	a	DET
iiclr-27370	361	20	lack	lack	NOUN
iiclr-27370	361	21	of	of	ADP
iiclr-27370	361	22	any	any	DET
iiclr-27370	361	23	controlling	controlling	NOUN
iiclr-27370	361	24	,	,	PUNCT
iiclr-27370	361	25	effective	effective	ADJ
iiclr-27370	361	26	regulation	regulation	NOUN
iiclr-27370	361	27	,	,	PUNCT
iiclr-27370	361	28	and	and	CCONJ
iiclr-27370	361	29	thus	thus	ADV
iiclr-27370	361	30	,	,	PUNCT
iiclr-27370	361	31	has	have	AUX
iiclr-27370	361	32	caused	cause	VERB
iiclr-27370	361	33	the	the	DET
iiclr-27370	361	34	united	united	PROPN
iiclr-27370	361	35	states	states	PROPN
iiclr-27370	361	36	to	to	PART
iiclr-27370	361	37	fall	fall	VERB
iiclr-27370	361	38	behind	behind	ADV
iiclr-27370	361	39	in	in	ADP
iiclr-27370	361	40	the	the	DET
iiclr-27370	361	41	cryptocurrency	cryptocurrency	NOUN
iiclr-27370	361	42	space.159	space.159	NOUN
iiclr-27370	361	43	the	the	DET
iiclr-27370	361	44	issues	issue	NOUN
iiclr-27370	361	45	associated	associate	VERB
iiclr-27370	361	46	with	with	ADP
iiclr-27370	361	47	the	the	DET
iiclr-27370	361	48	current	current	ADJ
iiclr-27370	361	49	unsuccessful	unsuccessful	ADJ
iiclr-27370	361	50	regulatory	regulatory	ADJ
iiclr-27370	361	51	framework	framework	NOUN
iiclr-27370	361	52	have	have	AUX
iiclr-27370	361	53	been	be	AUX
iiclr-27370	361	54	recognized	recognize	VERB
iiclr-27370	361	55	by	by	ADP
iiclr-27370	361	56	many	many	ADJ
iiclr-27370	361	57	,	,	PUNCT
iiclr-27370	361	58	from	from	ADP
iiclr-27370	361	59	the	the	DET
iiclr-27370	361	60	president	president	NOUN
iiclr-27370	361	61	,	,	PUNCT
iiclr-27370	361	62	to	to	ADP
iiclr-27370	361	63	the	the	DET
iiclr-27370	361	64	legislature	legislature	NOUN
iiclr-27370	361	65	,	,	PUNCT
iiclr-27370	361	66	to	to	ADP
iiclr-27370	361	67	exchanges	exchange	NOUN
iiclr-27370	361	68	themselves	themselves	PRON
iiclr-27370	361	69	.	.	PUNCT
iiclr-27370	362	1	undoubtedly	undoubtedly	ADV
iiclr-27370	362	2	,	,	PUNCT
iiclr-27370	362	3	the	the	DET
iiclr-27370	362	4	united	united	PROPN
iiclr-27370	362	5	states	states	PROPN
iiclr-27370	362	6	must	must	AUX
iiclr-27370	362	7	reform	reform	VERB
iiclr-27370	362	8	its	its	PRON
iiclr-27370	362	9	regulatory	regulatory	ADJ
iiclr-27370	362	10	approach	approach	NOUN
iiclr-27370	362	11	to	to	ADP
iiclr-27370	362	12	cryptocurrency	cryptocurrency	NOUN
iiclr-27370	362	13	;	;	PUNCT
iiclr-27370	362	14	or	or	CCONJ
iiclr-27370	362	15	else	else	ADV
iiclr-27370	362	16	,	,	PUNCT
iiclr-27370	362	17	it	it	PRON
iiclr-27370	362	18	risks	risk	VERB
iiclr-27370	362	19	falling	fall	VERB
iiclr-27370	362	20	behind	behind	ADV
iiclr-27370	362	21	even	even	ADV
iiclr-27370	362	22	further	far	ADV
iiclr-27370	362	23	than	than	SCONJ
iiclr-27370	362	24	it	it	PRON
iiclr-27370	362	25	already	already	ADV
iiclr-27370	362	26	has	have	VERB
iiclr-27370	362	27	in	in	ADP
iiclr-27370	362	28	this	this	DET
iiclr-27370	362	29	massively	massively	ADV
iiclr-27370	362	30	lucrative	lucrative	ADJ
iiclr-27370	362	31	and	and	CCONJ
iiclr-27370	362	32	continuously	continuously	ADV
iiclr-27370	362	33	growing	grow	VERB
iiclr-27370	362	34	industry	industry	NOUN
iiclr-27370	362	35	.	.	PUNCT
iiclr-27370	363	1	c5bd0wqjc7v0/7fhsemtqvq4p4ys7sjckmj	c5bd0wqjc7v0/7fhsemtqvq4p4ys7sjckmj	NOUN
iiclr-27370	363	2	/	/	SYM
iiclr-27370	363	3	a98939d651d7ee24a56a897e2d37ef30	a98939d651d7ee24a56a897e2d37ef30	ADJ
iiclr-27370	363	4	/	/	SYM
iiclr-27370	363	5	coinbasedigital	coinbasedigital	ADJ
iiclr-27370	363	6	-	-	PUNCT
iiclr-27370	363	7	asset	asset	NOUN
iiclr-27370	363	8	-	-	PUNCT
iiclr-27370	363	9	policy	policy	NOUN
iiclr-27370	363	10	-	-	PUNCT
iiclr-27370	363	11	proposal.pdf	proposal.pdf	NOUN
iiclr-27370	363	12	[	[	X
iiclr-27370	363	13	https://perma.cc/247w-jv3u	https://perma.cc/247w-jv3u	X
iiclr-27370	363	14	]	]	X
iiclr-27370	363	15	.	.	PUNCT
iiclr-27370	364	1	152	152	NUM
iiclr-27370	364	2	.	.	PUNCT
iiclr-27370	365	1	i	i	PRON
iiclr-27370	365	2	d.	d.	PROPN
iiclr-27370	365	3	at	at	ADP
iiclr-27370	365	4	8	8	NUM
iiclr-27370	365	5	.	.	X
iiclr-27370	365	6	153	153	NUM
iiclr-27370	365	7	.	.	PUNCT
iiclr-27370	366	1	see	see	VERB
iiclr-27370	366	2	i	i	PRON
iiclr-27370	366	3	d.	d.	PROPN
iiclr-27370	366	4	154	154	NUM
iiclr-27370	366	5	.	.	PUNCT
iiclr-27370	367	1	feiner	feiner	PROPN
iiclr-27370	367	2	,	,	PUNCT
iiclr-27370	367	3	supra	supra	PROPN
iiclr-27370	367	4	note	note	PROPN
iiclr-27370	367	5	150	150	NUM
iiclr-27370	367	6	.	.	NOUN
iiclr-27370	367	7	155	155	NUM
iiclr-27370	367	8	.	.	PUNCT
iiclr-27370	368	1	i	i	PRON
iiclr-27370	368	2	d.	d.	PROPN
iiclr-27370	368	3	156	156	NUM
iiclr-27370	368	4	.	.	PUNCT
iiclr-27370	369	1	coinbase	coinbase	PROPN
iiclr-27370	369	2	,	,	PUNCT
iiclr-27370	369	3	supra	supra	PROPN
iiclr-27370	369	4	note	note	NOUN
iiclr-27370	369	5	151	151	NUM
iiclr-27370	369	6	,	,	PUNCT
iiclr-27370	369	7	at	at	ADP
iiclr-27370	369	8	7	7	NUM
iiclr-27370	369	9	.	.	ADP
iiclr-27370	369	10	157	157	NUM
iiclr-27370	369	11	.	.	PUNCT
iiclr-27370	370	1	i	i	PRON
iiclr-27370	370	2	d.	d.	PROPN
iiclr-27370	370	3	158	158	NUM
iiclr-27370	370	4	.	.	PUNCT
iiclr-27370	371	1	i	i	PRON
iiclr-27370	371	2	d.	d.	PROPN
iiclr-27370	371	3	159	159	NUM
iiclr-27370	371	4	.	.	PUNCT
iiclr-27370	372	1	see	see	VERB
iiclr-27370	372	2	generally	generally	ADV
iiclr-27370	372	3	i	i	PRON
iiclr-27370	372	4	d.	d.	PROPN
iiclr-27370	372	5	210	210	NUM
iiclr-27370	372	6	indiana	indiana	PROPN
iiclr-27370	372	7	int’l	int’l	NUM
iiclr-27370	372	8	&	&	CCONJ
iiclr-27370	372	9	comp	comp	PROPN
iiclr-27370	372	10	.	.	PUNCT
iiclr-27370	373	1	law	law	NOUN
iiclr-27370	373	2	review	review	NOUN
iiclr-27370	374	1	[	[	X
iiclr-27370	374	2	vol	vol	NOUN
iiclr-27370	374	3	.	.	PUNCT
iiclr-27370	374	4	33:191	33:191	NUM
iiclr-27370	374	5	iii	iii	NOUN
iiclr-27370	374	6	.	.	PUNCT
iiclr-27370	375	1	the	the	DET
iiclr-27370	375	2	singaporean	singaporean	ADJ
iiclr-27370	375	3	approach	approach	NOUN
iiclr-27370	375	4	:	:	PUNCT
iiclr-27370	375	5	regulation	regulation	NOUN
iiclr-27370	375	6	without	without	ADP
iiclr-27370	375	7	stifling	stifle	VERB
iiclr-27370	375	8	innovation	innovation	NOUN
iiclr-27370	375	9	singapore	singapore	PROPN
iiclr-27370	375	10	is	be	AUX
iiclr-27370	375	11	commonly	commonly	ADV
iiclr-27370	375	12	referred	refer	VERB
iiclr-27370	375	13	to	to	ADP
iiclr-27370	375	14	as	as	ADP
iiclr-27370	375	15	one	one	NUM
iiclr-27370	375	16	of	of	ADP
iiclr-27370	375	17	the	the	DET
iiclr-27370	375	18	world	world	NOUN
iiclr-27370	375	19	’s	’s	PART
iiclr-27370	375	20	“	"	PUNCT
iiclr-27370	375	21	cryptohavens	cryptohaven	NOUN
iiclr-27370	375	22	”	"	PUNCT
iiclr-27370	375	23	due	due	ADP
iiclr-27370	375	24	to	to	ADP
iiclr-27370	375	25	its	its	PRON
iiclr-27370	375	26	balanced	balanced	ADJ
iiclr-27370	375	27	regulatory	regulatory	ADJ
iiclr-27370	375	28	scheme.160	scheme.160	PROPN
iiclr-27370	375	29	singapore	singapore	PROPN
iiclr-27370	375	30	’s	’s	PART
iiclr-27370	375	31	regulatory	regulatory	ADJ
iiclr-27370	375	32	system	system	NOUN
iiclr-27370	375	33	focuses	focus	VERB
iiclr-27370	375	34	on	on	ADP
iiclr-27370	375	35	both	both	CCONJ
iiclr-27370	375	36	the	the	DET
iiclr-27370	375	37	regulatory	regulatory	ADJ
iiclr-27370	375	38	and	and	CCONJ
iiclr-27370	375	39	the	the	DET
iiclr-27370	375	40	legal	legal	ADJ
iiclr-27370	375	41	environment	environment	NOUN
iiclr-27370	375	42	of	of	ADP
iiclr-27370	375	43	cryptocurrencies	cryptocurrencie	NOUN
iiclr-27370	375	44	.	.	PUNCT
iiclr-27370	376	1	the	the	DET
iiclr-27370	376	2	monetary	monetary	ADJ
iiclr-27370	376	3	authority	authority	NOUN
iiclr-27370	376	4	of	of	ADP
iiclr-27370	376	5	singapore	singapore	PROPN
iiclr-27370	376	6	(	(	PUNCT
iiclr-27370	376	7	mas	mas	PROPN
iiclr-27370	376	8	)	)	PUNCT
iiclr-27370	376	9	regulates	regulate	VERB
iiclr-27370	376	10	crypto	crypto	NOUN
iiclr-27370	376	11	within	within	ADP
iiclr-27370	376	12	the	the	DET
iiclr-27370	376	13	country	country	NOUN
iiclr-27370	376	14	and	and	CCONJ
iiclr-27370	376	15	takes	take	VERB
iiclr-27370	376	16	an	an	DET
iiclr-27370	376	17	approach	approach	NOUN
iiclr-27370	376	18	to	to	ADP
iiclr-27370	376	19	the	the	DET
iiclr-27370	376	20	cryptocurrency	cryptocurrency	NOUN
iiclr-27370	376	21	ecosystem	ecosystem	NOUN
iiclr-27370	376	22	that	that	PRON
iiclr-27370	376	23	aims	aim	VERB
iiclr-27370	376	24	to	to	PART
iiclr-27370	376	25	monitor	monitor	VERB
iiclr-27370	376	26	risks	risk	NOUN
iiclr-27370	376	27	while	while	SCONJ
iiclr-27370	376	28	ensuring	ensure	VERB
iiclr-27370	376	29	that	that	SCONJ
iiclr-27370	376	30	it	it	PRON
iiclr-27370	376	31	does	do	AUX
iiclr-27370	376	32	not	not	PART
iiclr-27370	376	33	stifle	stifle	VERB
iiclr-27370	376	34	technological	technological	ADJ
iiclr-27370	376	35	innovation.161	innovation.161	VERB
iiclr-27370	376	36	this	this	DET
iiclr-27370	376	37	singaporean	singaporean	ADJ
iiclr-27370	376	38	approach	approach	NOUN
iiclr-27370	376	39	is	be	AUX
iiclr-27370	376	40	“	"	PUNCT
iiclr-27370	376	41	pragmatic	pragmatic	ADJ
iiclr-27370	376	42	,	,	PUNCT
iiclr-27370	376	43	practical	practical	ADJ
iiclr-27370	376	44	and	and	CCONJ
iiclr-27370	376	45	tailored	tailor	VERB
iiclr-27370	376	46	,	,	PUNCT
iiclr-27370	376	47	”	"	PUNCT
iiclr-27370	376	48	and	and	CCONJ
iiclr-27370	376	49	,	,	PUNCT
iiclr-27370	376	50	further	far	ADV
iiclr-27370	376	51	,	,	PUNCT
iiclr-27370	376	52	seeks	seek	VERB
iiclr-27370	376	53	to	to	PART
iiclr-27370	376	54	foster	foster	VERB
iiclr-27370	376	55	a	a	DET
iiclr-27370	376	56	regulatory	regulatory	ADJ
iiclr-27370	376	57	environment	environment	NOUN
iiclr-27370	376	58	while	while	SCONJ
iiclr-27370	376	59	still	still	ADV
iiclr-27370	376	60	exercising	exercise	VERB
iiclr-27370	376	61	caution	caution	NOUN
iiclr-27370	376	62	in	in	ADP
iiclr-27370	376	63	an	an	DET
iiclr-27370	376	64	attempt	attempt	NOUN
iiclr-27370	376	65	to	to	PART
iiclr-27370	376	66	mitigate	mitigate	VERB
iiclr-27370	376	67	risk.162	risk.162	NOUN
iiclr-27370	376	68	according	accord	VERB
iiclr-27370	376	69	to	to	ADP
iiclr-27370	376	70	ravi	ravi	PROPN
iiclr-27370	376	71	menon	menon	PROPN
iiclr-27370	376	72	,	,	PUNCT
iiclr-27370	376	73	the	the	DET
iiclr-27370	376	74	managing	manage	VERB
iiclr-27370	376	75	director	director	NOUN
iiclr-27370	376	76	of	of	ADP
iiclr-27370	376	77	the	the	DET
iiclr-27370	376	78	mas	mas	PROPN
iiclr-27370	376	79	,	,	PUNCT
iiclr-27370	376	80	singapore	singapore	PROPN
iiclr-27370	376	81	strives	strive	VERB
iiclr-27370	376	82	to	to	PART
iiclr-27370	376	83	put	put	VERB
iiclr-27370	376	84	strong	strong	ADJ
iiclr-27370	376	85	regulations	regulation	NOUN
iiclr-27370	376	86	in	in	ADP
iiclr-27370	376	87	place	place	NOUN
iiclr-27370	376	88	so	so	SCONJ
iiclr-27370	376	89	legitimate	legitimate	ADJ
iiclr-27370	376	90	firms	firm	NOUN
iiclr-27370	376	91	that	that	PRON
iiclr-27370	376	92	meet	meet	VERB
iiclr-27370	376	93	these	these	DET
iiclr-27370	376	94	strict	strict	ADJ
iiclr-27370	376	95	criteria	criterion	NOUN
iiclr-27370	376	96	can	can	AUX
iiclr-27370	376	97	operate	operate	VERB
iiclr-27370	376	98	within	within	ADP
iiclr-27370	376	99	the	the	DET
iiclr-27370	376	100	country.163	country.163	NOUN
iiclr-27370	376	101	to	to	ADP
iiclr-27370	376	102	this	this	DET
iiclr-27370	376	103	point	point	NOUN
iiclr-27370	376	104	,	,	PUNCT
iiclr-27370	376	105	singapore	singapore	PROPN
iiclr-27370	376	106	’s	’s	PART
iiclr-27370	376	107	approach	approach	NOUN
iiclr-27370	376	108	to	to	ADP
iiclr-27370	376	109	cryptocurrency	cryptocurrency	NOUN
iiclr-27370	376	110	regulation	regulation	NOUN
iiclr-27370	376	111	has	have	AUX
iiclr-27370	376	112	been	be	AUX
iiclr-27370	376	113	successful	successful	ADJ
iiclr-27370	376	114	,	,	PUNCT
iiclr-27370	376	115	as	as	SCONJ
iiclr-27370	376	116	the	the	DET
iiclr-27370	376	117	country	country	NOUN
iiclr-27370	376	118	has	have	AUX
iiclr-27370	376	119	managed	manage	VERB
iiclr-27370	376	120	to	to	PART
iiclr-27370	376	121	attract	attract	VERB
iiclr-27370	376	122	major	major	ADJ
iiclr-27370	376	123	cryptocurrency	cryptocurrency	NOUN
iiclr-27370	376	124	firms	firm	NOUN
iiclr-27370	376	125	such	such	ADJ
iiclr-27370	376	126	as	as	ADP
iiclr-27370	376	127	gemini.164	gemini.164	PROPN
iiclr-27370	376	128	singapore	singapore	PROPN
iiclr-27370	376	129	has	have	AUX
iiclr-27370	376	130	established	establish	VERB
iiclr-27370	376	131	that	that	SCONJ
iiclr-27370	376	132	it	it	PRON
iiclr-27370	376	133	does	do	AUX
iiclr-27370	376	134	not	not	PART
iiclr-27370	376	135	view	view	VERB
iiclr-27370	376	136	cryptocurrency	cryptocurrency	NOUN
iiclr-27370	376	137	as	as	ADP
iiclr-27370	376	138	legal	legal	ADJ
iiclr-27370	376	139	tender	tender	NOUN
iiclr-27370	376	140	or	or	CCONJ
iiclr-27370	376	141	a	a	DET
iiclr-27370	376	142	store	store	NOUN
iiclr-27370	376	143	of	of	ADP
iiclr-27370	376	144	value.165	value.165	NOUN
iiclr-27370	376	145	despite	despite	SCONJ
iiclr-27370	376	146	this	this	PRON
iiclr-27370	376	147	,	,	PUNCT
iiclr-27370	376	148	singapore	singapore	PROPN
iiclr-27370	376	149	has	have	AUX
iiclr-27370	376	150	encouraged	encourage	VERB
iiclr-27370	376	151	the	the	DET
iiclr-27370	376	152	use	use	NOUN
iiclr-27370	376	153	of	of	ADP
iiclr-27370	376	154	cryptocurrency	cryptocurrency	NOUN
iiclr-27370	376	155	as	as	ADP
iiclr-27370	376	156	a	a	DET
iiclr-27370	376	157	means	means	NOUN
iiclr-27370	376	158	of	of	ADP
iiclr-27370	376	159	payment	payment	NOUN
iiclr-27370	376	160	to	to	ADP
iiclr-27370	376	161	those	those	PRON
iiclr-27370	376	162	who	who	PRON
iiclr-27370	376	163	are	be	AUX
iiclr-27370	376	164	willing	willing	ADJ
iiclr-27370	376	165	to	to	PART
iiclr-27370	376	166	accept	accept	VERB
iiclr-27370	376	167	it.166	it.166	PROPN
iiclr-27370	376	168	to	to	PART
iiclr-27370	376	169	settle	settle	VERB
iiclr-27370	376	170	some	some	DET
iiclr-27370	376	171	confusion	confusion	NOUN
iiclr-27370	376	172	,	,	PUNCT
iiclr-27370	376	173	singaporean	singaporean	ADJ
iiclr-27370	376	174	courts	court	NOUN
iiclr-27370	376	175	have	have	AUX
iiclr-27370	376	176	clarified	clarify	VERB
iiclr-27370	376	177	that	that	SCONJ
iiclr-27370	376	178	the	the	DET
iiclr-27370	376	179	country	country	NOUN
iiclr-27370	376	180	views	view	VERB
iiclr-27370	376	181	cryptocurrency	cryptocurrency	NOUN
iiclr-27370	376	182	as	as	ADP
iiclr-27370	376	183	personal	personal	ADJ
iiclr-27370	376	184	property.167	property.167	ADJ
iiclr-27370	376	185	this	this	DET
iiclr-27370	376	186	classification	classification	NOUN
iiclr-27370	376	187	of	of	ADP
iiclr-27370	376	188	cryptocurrency	cryptocurrency	NOUN
iiclr-27370	376	189	as	as	ADP
iiclr-27370	376	190	a	a	DET
iiclr-27370	376	191	property	property	NOUN
iiclr-27370	376	192	,	,	PUNCT
iiclr-27370	376	193	rather	rather	ADV
iiclr-27370	376	194	than	than	ADP
iiclr-27370	376	195	legal	legal	ADJ
iiclr-27370	376	196	tender	tender	NOUN
iiclr-27370	376	197	,	,	PUNCT
iiclr-27370	376	198	is	be	AUX
iiclr-27370	376	199	one	one	NUM
iiclr-27370	376	200	that	that	PRON
iiclr-27370	376	201	has	have	AUX
iiclr-27370	376	202	withstood	withstand	VERB
iiclr-27370	376	203	legal	legal	ADJ
iiclr-27370	376	204	scrutiny	scrutiny	NOUN
iiclr-27370	376	205	.	.	PUNCT
iiclr-27370	377	1	in	in	ADP
iiclr-27370	377	2	the	the	DET
iiclr-27370	377	3	landmark	landmark	NOUN
iiclr-27370	377	4	judgment	judgment	NOUN
iiclr-27370	377	5	handed	hand	VERB
iiclr-27370	377	6	down	down	ADP
iiclr-27370	377	7	in	in	ADP
iiclr-27370	377	8	b2c2	b2c2	PRON
iiclr-27370	377	9	ltd	ltd	PROPN
iiclr-27370	377	10	.	.	PROPN
iiclr-27370	378	1	v.	v.	ADP
iiclr-27370	378	2	quoine	quoine	PROPN
iiclr-27370	378	3	pte	pte	PROPN
iiclr-27370	378	4	ltd	ltd	PROPN
iiclr-27370	378	5	.	.	PROPN
iiclr-27370	378	6	,	,	PUNCT
iiclr-27370	378	7	the	the	DET
iiclr-27370	378	8	singapore	singapore	PROPN
iiclr-27370	378	9	international	international	PROPN
iiclr-27370	378	10	commercial	commercial	ADJ
iiclr-27370	378	11	court	court	NOUN
iiclr-27370	378	12	confirmed	confirm	VERB
iiclr-27370	378	13	that	that	SCONJ
iiclr-27370	378	14	cryptocurrency	cryptocurrency	NOUN
iiclr-27370	378	15	should	should	AUX
iiclr-27370	378	16	be	be	AUX
iiclr-27370	378	17	regulated	regulate	VERB
iiclr-27370	378	18	as	as	ADP
iiclr-27370	378	19	a	a	DET
iiclr-27370	378	20	property.168	property.168	NOUN
iiclr-27370	378	21	in	in	ADP
iiclr-27370	378	22	reaching	reach	VERB
iiclr-27370	378	23	this	this	DET
iiclr-27370	378	24	decision	decision	NOUN
iiclr-27370	378	25	,	,	PUNCT
iiclr-27370	378	26	the	the	DET
iiclr-27370	378	27	court	court	NOUN
iiclr-27370	378	28	held	hold	VERB
iiclr-27370	378	29	that	that	DET
iiclr-27370	378	30	cryptocurrency	cryptocurrency	NOUN
iiclr-27370	378	31	is	be	AUX
iiclr-27370	378	32	not	not	PART
iiclr-27370	378	33	legal	legal	ADJ
iiclr-27370	378	34	tender	tender	NOUN
iiclr-27370	378	35	because	because	SCONJ
iiclr-27370	378	36	it	it	PRON
iiclr-27370	378	37	is	be	AUX
iiclr-27370	378	38	not	not	PART
iiclr-27370	378	39	a	a	DET
iiclr-27370	378	40	currency	currency	NOUN
iiclr-27370	378	41	issued	issue	VERB
iiclr-27370	378	42	by	by	ADP
iiclr-27370	378	43	a	a	DET
iiclr-27370	378	44	government	government	NOUN
iiclr-27370	378	45	,	,	PUNCT
iiclr-27370	378	46	but	but	CCONJ
iiclr-27370	378	47	that	that	SCONJ
iiclr-27370	378	48	it	it	PRON
iiclr-27370	378	49	“	"	PUNCT
iiclr-27370	378	50	(	(	PUNCT
iiclr-27370	378	51	does	do	AUX
iiclr-27370	378	52	)	)	PUNCT
iiclr-27370	378	53	have	have	VERB
iiclr-27370	378	54	the	the	DET
iiclr-27370	378	55	fundamental	fundamental	ADJ
iiclr-27370	378	56	characteristic	characteristic	NOUN
iiclr-27370	378	57	of	of	ADP
iiclr-27370	378	58	intangible	intangible	ADJ
iiclr-27370	378	59	property	property	NOUN
iiclr-27370	378	60	as	as	ADP
iiclr-27370	378	61	being	be	AUX
iiclr-27370	378	62	an	an	DET
iiclr-27370	378	63	identifiable	identifiable	ADJ
iiclr-27370	378	64	thing	thing	NOUN
iiclr-27370	378	65	of	of	ADP
iiclr-27370	378	66	value	value	NOUN
iiclr-27370	378	67	.	.	PUNCT
iiclr-27370	378	68	”169	”169	PUNCT
iiclr-27370	379	1	the	the	DET
iiclr-27370	379	2	court	court	NOUN
iiclr-27370	379	3	further	far	ADV
iiclr-27370	379	4	opined	opine	VERB
iiclr-27370	379	5	that	that	SCONJ
iiclr-27370	379	6	,	,	PUNCT
iiclr-27370	379	7	in	in	ADP
iiclr-27370	379	8	singapore	singapore	PROPN
iiclr-27370	379	9	,	,	PUNCT
iiclr-27370	379	10	property	property	NOUN
iiclr-27370	379	11	must	must	AUX
iiclr-27370	379	12	be	be	AUX
iiclr-27370	379	13	“	"	PUNCT
iiclr-27370	379	14	definable	definable	ADJ
iiclr-27370	379	15	,	,	PUNCT
iiclr-27370	379	16	identifiable	identifiable	ADJ
iiclr-27370	379	17	by	by	ADP
iiclr-27370	379	18	third	third	ADJ
iiclr-27370	379	19	parties	party	NOUN
iiclr-27370	379	20	,	,	PUNCT
iiclr-27370	379	21	capable	capable	ADJ
iiclr-27370	379	22	160	160	NUM
iiclr-27370	379	23	.	.	PUNCT
iiclr-27370	380	1	franca	franca	NOUN
iiclr-27370	380	2	ciambella	ciambella	NOUN
iiclr-27370	380	3	,	,	PUNCT
iiclr-27370	380	4	en	en	PROPN
iiclr-27370	380	5	-	-	PROPN
iiclr-27370	380	6	lai	lai	PROPN
iiclr-27370	380	7	chong	chong	PROPN
iiclr-27370	380	8	&	&	CCONJ
iiclr-27370	380	9	lin	lin	PROPN
iiclr-27370	380	10	yingxin	yingxin	PROPN
iiclr-27370	380	11	,	,	PUNCT
iiclr-27370	380	12	singapore	singapore	PROPN
iiclr-27370	380	13	,	,	PUNCT
iiclr-27370	380	14	in	in	ADP
iiclr-27370	380	15	blockchain	blockchain	PROPN
iiclr-27370	380	16	&	&	CCONJ
iiclr-27370	380	17	cryptocurrency	cryptocurrency	NOUN
iiclr-27370	380	18	regulation	regulation	NOUN
iiclr-27370	380	19	2019	2019	NUM
iiclr-27370	380	20	420	420	NUM
iiclr-27370	380	21	(	(	PUNCT
iiclr-27370	380	22	josias	josias	PROPN
iiclr-27370	380	23	dewey	dewey	PROPN
iiclr-27370	380	24	ed	ed	PROPN
iiclr-27370	380	25	.	.	PROPN
iiclr-27370	380	26	,	,	PUNCT
iiclr-27370	380	27	1st	1st	ADJ
iiclr-27370	380	28	ed	ed	NOUN
iiclr-27370	380	29	.	.	PROPN
iiclr-27370	380	30	2019	2019	NUM
iiclr-27370	380	31	)	)	PUNCT
iiclr-27370	380	32	.	.	PUNCT
iiclr-27370	381	1	161	161	NUM
iiclr-27370	381	2	.	.	PUNCT
iiclr-27370	382	1	see	see	VERB
iiclr-27370	382	2	kim	kim	PROPN
iiclr-27370	382	3	,	,	PUNCT
iiclr-27370	382	4	supra	supra	PROPN
iiclr-27370	382	5	note	note	PROPN
iiclr-27370	382	6	89	89	NUM
iiclr-27370	382	7	,	,	PUNCT
iiclr-27370	382	8	at	at	ADP
iiclr-27370	382	9	364	364	NUM
iiclr-27370	382	10	.	.	PUNCT
iiclr-27370	382	11	162	162	NUM
iiclr-27370	382	12	.	.	PUNCT
iiclr-27370	383	1	kenneth	kenneth	PROPN
iiclr-27370	383	2	pereire	pereire	PROPN
iiclr-27370	383	3	&	&	CCONJ
iiclr-27370	383	4	lin	lin	PROPN
iiclr-27370	383	5	yingxin	yingxin	PROPN
iiclr-27370	383	6	,	,	PUNCT
iiclr-27370	383	7	singapore	singapore	PROPN
iiclr-27370	383	8	,	,	PUNCT
iiclr-27370	383	9	in	in	ADP
iiclr-27370	383	10	blockchain	blockchain	PROPN
iiclr-27370	383	11	&	&	CCONJ
iiclr-27370	383	12	cryptocurrency	cryptocurrency	NOUN
iiclr-27370	383	13	laws	law	NOUN
iiclr-27370	383	14	and	and	CCONJ
iiclr-27370	383	15	regulations	regulation	NOUN
iiclr-27370	383	16	2022	2022	NUM
iiclr-27370	383	17	1	1	NUM
iiclr-27370	383	18	(	(	PUNCT
iiclr-27370	383	19	4th	4th	ADJ
iiclr-27370	383	20	ed	ed	NOUN
iiclr-27370	383	21	.	.	PROPN
iiclr-27370	383	22	2022	2022	NUM
iiclr-27370	383	23	)	)	PUNCT
iiclr-27370	383	24	,	,	PUNCT
iiclr-27370	383	25	https://www.globallegalinsights.com/practice-areas/	https://www.globallegalinsights.com/practice-areas/	PROPN
iiclr-27370	383	26	blockchain	blockchain	PROPN
iiclr-27370	383	27	-	-	PUNCT
iiclr-27370	383	28	laws	law	NOUN
iiclr-27370	383	29	-	-	PUNCT
iiclr-27370	383	30	and	and	CCONJ
iiclr-27370	383	31	-	-	PUNCT
iiclr-27370	383	32	regulations	regulation	NOUN
iiclr-27370	383	33	/	/	SYM
iiclr-27370	383	34	singapore	singapore	PROPN
iiclr-27370	384	1	[	[	X
iiclr-27370	384	2	https://perma.cc/lcd4-m92h	https://perma.cc/lcd4-m92h	X
iiclr-27370	384	3	]	]	X
iiclr-27370	384	4	.	.	PUNCT
iiclr-27370	385	1	163	163	NUM
iiclr-27370	385	2	.	.	PUNCT
iiclr-27370	386	1	chanyaporn	chanyaporn	ADJ
iiclr-27370	386	2	chanjaroen	chanjaroen	ADJ
iiclr-27370	386	3	,	,	PUNCT
iiclr-27370	386	4	haslinda	haslinda	PROPN
iiclr-27370	386	5	amin	amin	PROPN
iiclr-27370	386	6	&	&	CCONJ
iiclr-27370	386	7	joanna	joanna	PROPN
iiclr-27370	386	8	ossinger	ossinger	PROPN
iiclr-27370	386	9	,	,	PUNCT
iiclr-27370	386	10	singapore	singapore	PROPN
iiclr-27370	386	11	has	have	VERB
iiclr-27370	386	12	grand	grand	ADJ
iiclr-27370	386	13	ambitions	ambition	NOUN
iiclr-27370	386	14	to	to	PART
iiclr-27370	386	15	become	become	VERB
iiclr-27370	386	16	a	a	DET
iiclr-27370	386	17	global	global	ADJ
iiclr-27370	386	18	crypto	crypto	NOUN
iiclr-27370	386	19	hub	hub	PROPN
iiclr-27370	386	20	,	,	PUNCT
iiclr-27370	386	21	bloomberg	bloomberg	PROPN
iiclr-27370	386	22	l.	l.	PROPN
iiclr-27370	386	23	(	(	PUNCT
iiclr-27370	386	24	nov	nov	PROPN
iiclr-27370	386	25	.	.	PROPN
iiclr-27370	386	26	2	2	NUM
iiclr-27370	386	27	,	,	PUNCT
iiclr-27370	386	28	2021	2021	NUM
iiclr-27370	386	29	)	)	PUNCT
iiclr-27370	386	30	,	,	PUNCT
iiclr-27370	386	31	https://www	https://www	PROPN
iiclr-27370	386	32	.	.	PUNCT
iiclr-27370	386	33	bloomberg.com/news/articles/2021-11-01/singapore-has-grand-ambitions-to-become-a-globalcrypto-hub?leadsource=uverify%20wall	bloomberg.com/news/articles/2021-11-01/singapore-has-grand-ambitions-to-become-a-globalcrypto-hub?leadsource=uverify%20wall	NOUN
iiclr-27370	387	1	[	[	X
iiclr-27370	387	2	https://perma.cc/gm6v-qd3e	https://perma.cc/gm6v-qd3e	X
iiclr-27370	387	3	]	]	X
iiclr-27370	387	4	.	.	PUNCT
iiclr-27370	388	1	164	164	NUM
iiclr-27370	388	2	.	.	PUNCT
iiclr-27370	389	1	see	see	VERB
iiclr-27370	389	2	generally	generally	ADV
iiclr-27370	389	3	i	i	PRON
iiclr-27370	389	4	d.	d.	PROPN
iiclr-27370	389	5	165	165	NUM
iiclr-27370	389	6	.	.	PUNCT
iiclr-27370	390	1	ciambella	ciambella	PROPN
iiclr-27370	390	2	,	,	PUNCT
iiclr-27370	390	3	chong	chong	PROPN
iiclr-27370	390	4	&	&	CCONJ
iiclr-27370	390	5	yingxin	yingxin	PROPN
iiclr-27370	390	6	,	,	PUNCT
iiclr-27370	390	7	supra	supra	PROPN
iiclr-27370	390	8	note	note	PROPN
iiclr-27370	390	9	160	160	NUM
iiclr-27370	390	10	,	,	PUNCT
iiclr-27370	390	11	at	at	ADP
iiclr-27370	390	12	420	420	NUM
iiclr-27370	390	13	.	.	PUNCT
iiclr-27370	391	1	166	166	NUM
iiclr-27370	391	2	.	.	PUNCT
iiclr-27370	392	1	i	i	PRON
iiclr-27370	392	2	d.	d.	PROPN
iiclr-27370	392	3	167	167	NUM
iiclr-27370	392	4	.	.	PUNCT
iiclr-27370	393	1	see	see	VERB
iiclr-27370	393	2	b2c2	b2c2	ADP
iiclr-27370	393	3	ltd	ltd	PROPN
iiclr-27370	393	4	.	.	PROPN
iiclr-27370	394	1	v.	v.	ADP
iiclr-27370	394	2	quoine	quoine	PROPN
iiclr-27370	394	3	pte	pte	PROPN
iiclr-27370	394	4	ltd	ltd	PROPN
iiclr-27370	394	5	.	.	PUNCT
iiclr-27370	395	1	[	[	X
iiclr-27370	395	2	2019	2019	NUM
iiclr-27370	395	3	]	]	SYM
iiclr-27370	395	4	sghc(i	sghc(i	NOUN
iiclr-27370	395	5	)	)	PUNCT
iiclr-27370	395	6	03	03	NUM
iiclr-27370	396	1	at	at	ADP
iiclr-27370	396	2	56	56	NUM
iiclr-27370	396	3	(	(	PUNCT
iiclr-27370	396	4	sing	sing	NOUN
iiclr-27370	396	5	.	.	PUNCT
iiclr-27370	396	6	)	)	PUNCT
iiclr-27370	396	7	.	.	PUNCT
iiclr-27370	397	1	168	168	NUM
iiclr-27370	397	2	.	.	PUNCT
iiclr-27370	398	1	see	see	VERB
iiclr-27370	398	2	generally	generally	ADV
iiclr-27370	398	3	i	i	PRON
iiclr-27370	398	4	d.	d.	PROPN
iiclr-27370	398	5	169	169	NUM
iiclr-27370	398	6	.	.	PUNCT
iiclr-27370	399	1	i	i	PRON
iiclr-27370	399	2	d.	d.	PROPN
iiclr-27370	399	3	at	at	ADP
iiclr-27370	399	4	56	56	NUM
iiclr-27370	399	5	-	-	SYM
iiclr-27370	399	6	57	57	NUM
iiclr-27370	399	7	.	.	PUNCT
iiclr-27370	400	1	2023	2023	NUM
iiclr-27370	400	2	]	]	PUNCT
iiclr-27370	400	3	the	the	DET
iiclr-27370	400	4	wild	wild	ADJ
iiclr-27370	400	5	west	west	NOUN
iiclr-27370	400	6	,	,	PUNCT
iiclr-27370	400	7	cryptocurrency	cryptocurrency	NOUN
iiclr-27370	400	8	,	,	PUNCT
iiclr-27370	400	9	and	and	CCONJ
iiclr-27370	400	10	singapore	singapore	NOUN
iiclr-27370	400	11	211	211	NUM
iiclr-27370	400	12	in	in	ADP
iiclr-27370	400	13	its	its	PRON
iiclr-27370	400	14	nature	nature	NOUN
iiclr-27370	400	15	of	of	ADP
iiclr-27370	400	16	assumption	assumption	NOUN
iiclr-27370	400	17	by	by	ADP
iiclr-27370	400	18	third	third	ADJ
iiclr-27370	400	19	parties	party	NOUN
iiclr-27370	400	20	,	,	PUNCT
iiclr-27370	400	21	and	and	CCONJ
iiclr-27370	400	22	have	have	VERB
iiclr-27370	400	23	some	some	DET
iiclr-27370	400	24	degree	degree	NOUN
iiclr-27370	400	25	of	of	ADP
iiclr-27370	400	26	permanence	permanence	NOUN
iiclr-27370	400	27	or	or	CCONJ
iiclr-27370	400	28	stability	stability	NOUN
iiclr-27370	400	29	.	.	PUNCT
iiclr-27370	400	30	”170	”170	PUNCT
iiclr-27370	401	1	before	before	ADP
iiclr-27370	401	2	moving	move	VERB
iiclr-27370	401	3	on	on	ADP
iiclr-27370	401	4	to	to	ADP
iiclr-27370	401	5	other	other	ADJ
iiclr-27370	401	6	matters	matter	NOUN
iiclr-27370	401	7	,	,	PUNCT
iiclr-27370	401	8	the	the	DET
iiclr-27370	401	9	court	court	NOUN
iiclr-27370	401	10	solidified	solidify	VERB
iiclr-27370	401	11	their	their	PRON
iiclr-27370	401	12	ruling	ruling	NOUN
iiclr-27370	401	13	that	that	SCONJ
iiclr-27370	401	14	cryptocurrency	cryptocurrency	NOUN
iiclr-27370	401	15	is	be	AUX
iiclr-27370	401	16	a	a	DET
iiclr-27370	401	17	property	property	NOUN
iiclr-27370	401	18	by	by	ADP
iiclr-27370	401	19	stating	state	VERB
iiclr-27370	401	20	that	that	SCONJ
iiclr-27370	401	21	“	"	PUNCT
iiclr-27370	401	22	[	[	X
iiclr-27370	401	23	c]ryptocurrencies	c]ryptocurrencie	NOUN
iiclr-27370	401	24	meet	meet	VERB
iiclr-27370	401	25	all	all	DET
iiclr-27370	401	26	these	these	DET
iiclr-27370	401	27	requirements	requirement	NOUN
iiclr-27370	401	28	.	.	PUNCT
iiclr-27370	402	1	”171	”171	PROPN
iiclr-27370	403	1	the	the	DET
iiclr-27370	403	2	singaporean	singaporean	ADJ
iiclr-27370	403	3	regulatory	regulatory	ADJ
iiclr-27370	403	4	scheme	scheme	NOUN
iiclr-27370	403	5	emerges	emerge	VERB
iiclr-27370	403	6	from	from	ADP
iiclr-27370	403	7	two	two	NUM
iiclr-27370	403	8	major	major	ADJ
iiclr-27370	403	9	pieces	piece	NOUN
iiclr-27370	403	10	of	of	ADP
iiclr-27370	403	11	legislation	legislation	NOUN
iiclr-27370	403	12	:	:	PUNCT
iiclr-27370	403	13	the	the	DET
iiclr-27370	403	14	payment	payment	NOUN
iiclr-27370	403	15	services	service	NOUN
iiclr-27370	403	16	act	act	NOUN
iiclr-27370	403	17	of	of	ADP
iiclr-27370	403	18	2019	2019	NUM
iiclr-27370	403	19	(	(	PUNCT
iiclr-27370	403	20	psa	psa	NOUN
iiclr-27370	403	21	)	)	PUNCT
iiclr-27370	403	22	and	and	CCONJ
iiclr-27370	403	23	the	the	DET
iiclr-27370	403	24	securities	security	NOUN
iiclr-27370	403	25	and	and	CCONJ
iiclr-27370	403	26	futures	future	NOUN
iiclr-27370	403	27	act	act	NOUN
iiclr-27370	403	28	(	(	PUNCT
iiclr-27370	403	29	sfa).172	sfa).172	NOUN
iiclr-27370	403	30	further	far	ADV
iiclr-27370	403	31	,	,	PUNCT
iiclr-27370	403	32	to	to	PART
iiclr-27370	403	33	address	address	VERB
iiclr-27370	403	34	money	money	NOUN
iiclr-27370	403	35	laundering	laundering	NOUN
iiclr-27370	403	36	and	and	CCONJ
iiclr-27370	403	37	counterterrorism	counterterrorism	NOUN
iiclr-27370	403	38	measures	measure	NOUN
iiclr-27370	403	39	,	,	PUNCT
iiclr-27370	403	40	singapore	singapore	PROPN
iiclr-27370	403	41	introduced	introduce	VERB
iiclr-27370	403	42	the	the	DET
iiclr-27370	403	43	mas	mas	PROPN
iiclr-27370	403	44	notice	notice	NOUN
iiclr-27370	403	45	on	on	ADP
iiclr-27370	403	46	prevention	prevention	NOUN
iiclr-27370	403	47	of	of	ADP
iiclr-27370	403	48	money	money	NOUN
iiclr-27370	403	49	laundering	laundering	NOUN
iiclr-27370	403	50	and	and	CCONJ
iiclr-27370	403	51	countering	counter	VERB
iiclr-27370	403	52	the	the	DET
iiclr-27370	403	53	financing	financing	NOUN
iiclr-27370	403	54	of	of	ADP
iiclr-27370	403	55	terrorism	terrorism	NOUN
iiclr-27370	403	56	—	—	PUNCT
iiclr-27370	403	57	holders	holder	NOUN
iiclr-27370	403	58	of	of	ADP
iiclr-27370	403	59	payment	payment	NOUN
iiclr-27370	403	60	services	service	NOUN
iiclr-27370	403	61	license	license	NOUN
iiclr-27370	403	62	(	(	PUNCT
iiclr-27370	403	63	digital	digital	ADJ
iiclr-27370	403	64	payment	payment	NOUN
iiclr-27370	403	65	token	token	VERB
iiclr-27370	403	66	service	service	NOUN
iiclr-27370	403	67	)	)	PUNCT
iiclr-27370	403	68	(	(	PUNCT
iiclr-27370	403	69	psn02).173	psn02).173	PROPN
iiclr-27370	403	70	a.	a.	NOUN
iiclr-27370	403	71	the	the	DET
iiclr-27370	403	72	psa	psa	NOUN
iiclr-27370	403	73	—	—	PUNCT
iiclr-27370	403	74	regulating	regulate	VERB
iiclr-27370	403	75	cryptocurrency	cryptocurrency	NOUN
iiclr-27370	403	76	exchanges	exchange	NOUN
iiclr-27370	403	77	the	the	DET
iiclr-27370	403	78	payment	payment	NOUN
iiclr-27370	403	79	services	service	NOUN
iiclr-27370	403	80	act	act	PROPN
iiclr-27370	403	81	,	,	PUNCT
iiclr-27370	403	82	which	which	PRON
iiclr-27370	403	83	took	take	VERB
iiclr-27370	403	84	effect	effect	NOUN
iiclr-27370	403	85	in	in	ADP
iiclr-27370	403	86	january	january	PROPN
iiclr-27370	403	87	2020	2020	NUM
iiclr-27370	403	88	,	,	PUNCT
iiclr-27370	403	89	regulates	regulate	VERB
iiclr-27370	403	90	the	the	DET
iiclr-27370	403	91	payment	payment	NOUN
iiclr-27370	403	92	and	and	CCONJ
iiclr-27370	403	93	exchange	exchange	NOUN
iiclr-27370	403	94	of	of	ADP
iiclr-27370	403	95	cryptocurrency	cryptocurrency	NOUN
iiclr-27370	403	96	in	in	ADP
iiclr-27370	403	97	singapore.174	singapore.174	PROPN
iiclr-27370	403	98	the	the	DET
iiclr-27370	403	99	intent	intent	NOUN
iiclr-27370	403	100	behind	behind	ADP
iiclr-27370	403	101	this	this	DET
iiclr-27370	403	102	act	act	NOUN
iiclr-27370	403	103	is	be	AUX
iiclr-27370	403	104	to	to	PART
iiclr-27370	403	105	streamline	streamline	VERB
iiclr-27370	403	106	the	the	DET
iiclr-27370	403	107	regulation	regulation	NOUN
iiclr-27370	403	108	of	of	ADP
iiclr-27370	403	109	payment	payment	NOUN
iiclr-27370	403	110	services	service	NOUN
iiclr-27370	403	111	into	into	ADP
iiclr-27370	403	112	a	a	DET
iiclr-27370	403	113	single	single	ADJ
iiclr-27370	403	114	piece	piece	NOUN
iiclr-27370	403	115	of	of	ADP
iiclr-27370	403	116	legislation	legislation	NOUN
iiclr-27370	403	117	and	and	CCONJ
iiclr-27370	403	118	to	to	PART
iiclr-27370	403	119	create	create	VERB
iiclr-27370	403	120	more	more	ADJ
iiclr-27370	403	121	dynamic	dynamic	ADJ
iiclr-27370	403	122	regulations	regulation	NOUN
iiclr-27370	403	123	to	to	PART
iiclr-27370	403	124	address	address	VERB
iiclr-27370	403	125	the	the	DET
iiclr-27370	403	126	risks	risk	NOUN
iiclr-27370	403	127	associated	associate	VERB
iiclr-27370	403	128	with	with	ADP
iiclr-27370	403	129	cryptocurrency.175	cryptocurrency.175	PROPN
iiclr-27370	403	130	the	the	DET
iiclr-27370	403	131	psa	psa	NOUN
iiclr-27370	403	132	governs	govern	VERB
iiclr-27370	403	133	those	those	PRON
iiclr-27370	403	134	who	who	PRON
iiclr-27370	403	135	deal	deal	VERB
iiclr-27370	403	136	in	in	ADP
iiclr-27370	403	137	digital	digital	ADJ
iiclr-27370	403	138	payment	payment	NOUN
iiclr-27370	403	139	tokens	token	NOUN
iiclr-27370	403	140	—	—	PUNCT
iiclr-27370	403	141	psa	psa	VERB
iiclr-27370	403	142	parlance	parlance	NOUN
iiclr-27370	403	143	for	for	ADP
iiclr-27370	403	144	virtual	virtual	ADJ
iiclr-27370	403	145	currencies	currency	NOUN
iiclr-27370	403	146	—	—	PUNCT
iiclr-27370	403	147	and	and	CCONJ
iiclr-27370	403	148	those	those	PRON
iiclr-27370	403	149	who	who	PRON
iiclr-27370	403	150	facilitate	facilitate	VERB
iiclr-27370	403	151	the	the	DET
iiclr-27370	403	152	exchange	exchange	NOUN
iiclr-27370	403	153	of	of	ADP
iiclr-27370	403	154	“	"	PUNCT
iiclr-27370	403	155	digital	digital	ADJ
iiclr-27370	403	156	payment	payment	NOUN
iiclr-27370	403	157	tokens	token	NOUN
iiclr-27370	403	158	.	.	PUNCT
iiclr-27370	404	1	”176	”176	PUNCT
iiclr-27370	404	2	it	it	PRON
iiclr-27370	404	3	defines	define	VERB
iiclr-27370	404	4	a	a	DET
iiclr-27370	404	5	“	"	PUNCT
iiclr-27370	404	6	digital	digital	ADJ
iiclr-27370	404	7	payment	payment	NOUN
iiclr-27370	404	8	token	token	VERB
iiclr-27370	404	9	”	"	PUNCT
iiclr-27370	404	10	as	as	ADP
iiclr-27370	404	11	any	any	DET
iiclr-27370	404	12	digital	digital	ADJ
iiclr-27370	404	13	representation	representation	NOUN
iiclr-27370	404	14	of	of	ADP
iiclr-27370	404	15	value	value	NOUN
iiclr-27370	404	16	that	that	PRON
iiclr-27370	404	17	:	:	PUNCT
iiclr-27370	404	18	is	be	AUX
iiclr-27370	404	19	expressed	express	VERB
iiclr-27370	404	20	as	as	ADP
iiclr-27370	404	21	a	a	DET
iiclr-27370	404	22	unit	unit	NOUN
iiclr-27370	404	23	;	;	PUNCT
iiclr-27370	404	24	is	be	AUX
iiclr-27370	404	25	not	not	PART
iiclr-27370	404	26	denominated	denominate	VERB
iiclr-27370	404	27	in	in	ADP
iiclr-27370	404	28	any	any	DET
iiclr-27370	404	29	currency	currency	NOUN
iiclr-27370	404	30	,	,	PUNCT
iiclr-27370	404	31	and	and	CCONJ
iiclr-27370	404	32	is	be	AUX
iiclr-27370	404	33	not	not	PART
iiclr-27370	404	34	pegged	peg	VERB
iiclr-27370	404	35	by	by	ADP
iiclr-27370	404	36	its	its	PRON
iiclr-27370	404	37	issuer	issuer	NOUN
iiclr-27370	404	38	to	to	ADP
iiclr-27370	404	39	any	any	DET
iiclr-27370	404	40	currency	currency	NOUN
iiclr-27370	404	41	;	;	PUNCT
iiclr-27370	404	42	is	be	AUX
iiclr-27370	404	43	,	,	PUNCT
iiclr-27370	404	44	or	or	CCONJ
iiclr-27370	404	45	is	be	AUX
iiclr-27370	404	46	intended	intend	VERB
iiclr-27370	404	47	to	to	PART
iiclr-27370	404	48	be	be	AUX
iiclr-27370	404	49	a	a	DET
iiclr-27370	404	50	medium	medium	NOUN
iiclr-27370	404	51	of	of	ADP
iiclr-27370	404	52	exchange	exchange	NOUN
iiclr-27370	404	53	accepted	accept	VERB
iiclr-27370	404	54	the	the	DET
iiclr-27370	404	55	public	public	NOUN
iiclr-27370	404	56	,	,	PUNCT
iiclr-27370	404	57	or	or	CCONJ
iiclr-27370	404	58	a	a	DET
iiclr-27370	404	59	section	section	NOUN
iiclr-27370	404	60	of	of	ADP
iiclr-27370	404	61	the	the	DET
iiclr-27370	404	62	public	public	NOUN
iiclr-27370	404	63	,	,	PUNCT
iiclr-27370	404	64	as	as	ADP
iiclr-27370	404	65	payment	payment	NOUN
iiclr-27370	404	66	for	for	ADP
iiclr-27370	404	67	goods	good	NOUN
iiclr-27370	404	68	or	or	CCONJ
iiclr-27370	404	69	services	service	NOUN
iiclr-27370	404	70	or	or	CCONJ
iiclr-27370	404	71	for	for	ADP
iiclr-27370	404	72	the	the	DET
iiclr-27370	404	73	discharge	discharge	NOUN
iiclr-27370	404	74	of	of	ADP
iiclr-27370	404	75	a	a	DET
iiclr-27370	404	76	debt	debt	NOUN
iiclr-27370	404	77	;	;	PUNCT
iiclr-27370	404	78	can	can	AUX
iiclr-27370	404	79	be	be	AUX
iiclr-27370	404	80	transferred	transfer	VERB
iiclr-27370	404	81	,	,	PUNCT
iiclr-27370	404	82	stored	store	VERB
iiclr-27370	404	83	,	,	PUNCT
iiclr-27370	404	84	or	or	CCONJ
iiclr-27370	404	85	traded	trade	VERB
iiclr-27370	404	86	electronically	electronically	ADV
iiclr-27370	404	87	;	;	PUNCT
iiclr-27370	404	88	and	and	CCONJ
iiclr-27370	404	89	satisfies	satisfy	VERB
iiclr-27370	404	90	such	such	ADJ
iiclr-27370	404	91	other	other	ADJ
iiclr-27370	404	92	characteristics	characteristic	NOUN
iiclr-27370	404	93	as	as	ADP
iiclr-27370	404	94	the	the	DET
iiclr-27370	404	95	authority	authority	NOUN
iiclr-27370	404	96	may	may	AUX
iiclr-27370	404	97	prescribe.177	prescribe.177	ADV
iiclr-27370	404	98	thus	thus	ADV
iiclr-27370	404	99	,	,	PUNCT
iiclr-27370	404	100	under	under	ADP
iiclr-27370	404	101	this	this	DET
iiclr-27370	404	102	broad	broad	ADJ
iiclr-27370	404	103	and	and	CCONJ
iiclr-27370	404	104	sweeping	sweeping	ADJ
iiclr-27370	404	105	definition	definition	NOUN
iiclr-27370	404	106	,	,	PUNCT
iiclr-27370	404	107	the	the	DET
iiclr-27370	404	108	majority	majority	NOUN
iiclr-27370	404	109	of	of	ADP
iiclr-27370	404	110	cryptocurrencies	cryptocurrencie	NOUN
iiclr-27370	404	111	are	be	AUX
iiclr-27370	404	112	regulated	regulate	VERB
iiclr-27370	404	113	as	as	ADP
iiclr-27370	404	114	digital	digital	ADJ
iiclr-27370	404	115	payment	payment	NOUN
iiclr-27370	404	116	tokens	token	NOUN
iiclr-27370	404	117	under	under	ADP
iiclr-27370	404	118	the	the	DET
iiclr-27370	404	119	act.178	act.178	NOUN
iiclr-27370	404	120	the	the	DET
iiclr-27370	404	121	psa	psa	NOUN
iiclr-27370	404	122	requires	require	VERB
iiclr-27370	404	123	any	any	DET
iiclr-27370	404	124	person	person	NOUN
iiclr-27370	404	125	who	who	PRON
iiclr-27370	404	126	carries	carry	VERB
iiclr-27370	404	127	out	out	ADP
iiclr-27370	404	128	a	a	DET
iiclr-27370	404	129	digital	digital	ADJ
iiclr-27370	404	130	payment	payment	NOUN
iiclr-27370	404	131	token	token	VERB
iiclr-27370	404	132	service	service	NOUN
iiclr-27370	404	133	—	—	PUNCT
iiclr-27370	404	134	or	or	CCONJ
iiclr-27370	404	135	any	any	DET
iiclr-27370	404	136	transaction	transaction	NOUN
iiclr-27370	404	137	“	"	PUNCT
iiclr-27370	404	138	dealing	deal	VERB
iiclr-27370	404	139	in	in	ADP
iiclr-27370	404	140	”	"	PUNCT
iiclr-27370	404	141	or	or	CCONJ
iiclr-27370	404	142	“	"	PUNCT
iiclr-27370	404	143	facilitating	facilitate	VERB
iiclr-27370	404	144	the	the	DET
iiclr-27370	404	145	exchange	exchange	NOUN
iiclr-27370	404	146	of	of	ADP
iiclr-27370	404	147	”	"	PUNCT
iiclr-27370	404	148	digital	digital	PROPN
iiclr-27370	404	149	170	170	NUM
iiclr-27370	404	150	.	.	PUNCT
iiclr-27370	405	1	i	i	PRON
iiclr-27370	405	2	d.	d.	PROPN
iiclr-27370	405	3	at	at	ADP
iiclr-27370	405	4	57	57	NUM
iiclr-27370	405	5	(	(	PUNCT
iiclr-27370	405	6	quoting	quote	VERB
iiclr-27370	405	7	national	national	PROPN
iiclr-27370	405	8	provincial	provincial	PROPN
iiclr-27370	405	9	bank	bank	PROPN
iiclr-27370	405	10	v.	v.	ADP
iiclr-27370	405	11	ainsworth	ainsworth	PROPN
iiclr-27370	405	12	,	,	PUNCT
iiclr-27370	405	13	1	1	NUM
iiclr-27370	405	14	ac	ac	PROPN
iiclr-27370	405	15	1175	1175	NUM
iiclr-27370	405	16	(	(	PUNCT
iiclr-27370	405	17	1965	1965	NUM
iiclr-27370	405	18	)	)	PUNCT
iiclr-27370	405	19	(	(	PUNCT
iiclr-27370	405	20	sing	sing	NOUN
iiclr-27370	405	21	.	.	PUNCT
iiclr-27370	405	22	)	)	PUNCT
iiclr-27370	405	23	)	)	PUNCT
iiclr-27370	405	24	.	.	PUNCT
iiclr-27370	406	1	171	171	NUM
iiclr-27370	406	2	.	.	PUNCT
iiclr-27370	407	1	i	i	PRON
iiclr-27370	407	2	d.	d.	PROPN
iiclr-27370	407	3	172	172	NUM
iiclr-27370	407	4	.	.	PUNCT
iiclr-27370	408	1	cryptocurrency	cryptocurrency	NOUN
iiclr-27370	408	2	regulation	regulation	NOUN
iiclr-27370	408	3	in	in	ADP
iiclr-27370	408	4	singapore	singapore	PROPN
iiclr-27370	408	5	:	:	PUNCT
iiclr-27370	408	6	challenges	challenge	NOUN
iiclr-27370	408	7	and	and	CCONJ
iiclr-27370	408	8	opportunities	opportunity	NOUN
iiclr-27370	408	9	ahead	ahead	ADV
iiclr-27370	408	10	,	,	PUNCT
iiclr-27370	408	11	ikigai	ikigai	PROPN
iiclr-27370	408	12	l.	l.	PROPN
iiclr-27370	408	13	,	,	PUNCT
iiclr-27370	408	14	(	(	PUNCT
iiclr-27370	408	15	nov	nov	PROPN
iiclr-27370	408	16	.	.	PROPN
iiclr-27370	408	17	11	11	NUM
iiclr-27370	408	18	,	,	PUNCT
iiclr-27370	408	19	2020	2020	NUM
iiclr-27370	408	20	)	)	PUNCT
iiclr-27370	408	21	,	,	PUNCT
iiclr-27370	408	22	https://www.ikigailaw.com/cryptocurrency-regulation-in-singapore-challengesand-opportunities-ahead/?utm_source=mondaq&utm_medium=syndication&utm_campaign=	https://www.ikigailaw.com/cryptocurrency-regulation-in-singapore-challengesand-opportunities-ahead/?utm_source=mondaq&utm_medium=syndication&utm_campaign=	PROPN
iiclr-27370	408	23	linkedin	linkedin	NOUN
iiclr-27370	408	24	-	-	PUNCT
iiclr-27370	408	25	integration#acceptlicense	integration#acceptlicense	NOUN
iiclr-27370	409	1	[	[	X
iiclr-27370	409	2	https://perma.cc/m3qs-s25y	https://perma.cc/m3qs-s25y	NOUN
iiclr-27370	409	3	]	]	X
iiclr-27370	409	4	.	.	PUNCT
iiclr-27370	410	1	173	173	NUM
iiclr-27370	410	2	.	.	PUNCT
iiclr-27370	410	3	pereire	pereire	NOUN
iiclr-27370	410	4	&	&	CCONJ
iiclr-27370	410	5	yingxin	yingxin	PROPN
iiclr-27370	410	6	,	,	PUNCT
iiclr-27370	410	7	supra	supra	PROPN
iiclr-27370	410	8	note	note	NOUN
iiclr-27370	410	9	162	162	NUM
iiclr-27370	410	10	.	.	PUNCT
iiclr-27370	410	11	174	174	NUM
iiclr-27370	410	12	.	.	PUNCT
iiclr-27370	411	1	ikigai	ikigai	PROPN
iiclr-27370	411	2	l.	l.	PROPN
iiclr-27370	411	3	,	,	PUNCT
iiclr-27370	411	4	supra	supra	PROPN
iiclr-27370	411	5	note	note	PROPN
iiclr-27370	411	6	172	172	NUM
iiclr-27370	411	7	.	.	PUNCT
iiclr-27370	411	8	175	175	NUM
iiclr-27370	411	9	.	.	PUNCT
iiclr-27370	412	1	i	i	PRON
iiclr-27370	412	2	d.	d.	PROPN
iiclr-27370	412	3	176	176	NUM
iiclr-27370	412	4	.	.	PUNCT
iiclr-27370	413	1	i	i	PRON
iiclr-27370	413	2	d.	d.	PROPN
iiclr-27370	413	3	177	177	NUM
iiclr-27370	413	4	.	.	PUNCT
iiclr-27370	414	1	payment	payment	NOUN
iiclr-27370	414	2	services	service	NOUN
iiclr-27370	414	3	act	act	PROPN
iiclr-27370	414	4	,	,	PUNCT
iiclr-27370	414	5	2019	2019	NUM
iiclr-27370	414	6	(	(	PUNCT
iiclr-27370	414	7	act	act	VERB
iiclr-27370	414	8	no	no	INTJ
iiclr-27370	414	9	.	.	PUNCT
iiclr-27370	415	1	7/2019	7/2019	NUM
iiclr-27370	415	2	)	)	PUNCT
iiclr-27370	415	3	(	(	PUNCT
iiclr-27370	415	4	sing	se	VERB
iiclr-27370	415	5	.	.	PUNCT
iiclr-27370	415	6	)	)	PUNCT
iiclr-27370	416	1	[	[	X
iiclr-27370	416	2	hereinafter	hereinafter	NOUN
iiclr-27370	416	3	psa	psa	NOUN
iiclr-27370	416	4	]	]	X
iiclr-27370	416	5	.	.	PUNCT
iiclr-27370	417	1	178	178	NUM
iiclr-27370	417	2	.	.	PUNCT
iiclr-27370	418	1	see	see	VERB
iiclr-27370	418	2	ikigai	ikigai	PROPN
iiclr-27370	418	3	l.	l.	PROPN
iiclr-27370	418	4	,	,	PUNCT
iiclr-27370	418	5	supra	supra	PROPN
iiclr-27370	418	6	note	note	PROPN
iiclr-27370	418	7	172	172	NUM
iiclr-27370	418	8	.	.	NOUN
iiclr-27370	418	9	212	212	NUM
iiclr-27370	418	10	indiana	indiana	PROPN
iiclr-27370	418	11	int’l	int’l	NUM
iiclr-27370	418	12	&	&	CCONJ
iiclr-27370	418	13	comp	comp	PROPN
iiclr-27370	418	14	.	.	PUNCT
iiclr-27370	419	1	law	law	NOUN
iiclr-27370	419	2	review	review	NOUN
iiclr-27370	419	3	[	[	X
iiclr-27370	419	4	vol	vol	NOUN
iiclr-27370	419	5	.	.	PUNCT
iiclr-27370	420	1	33:191	33:191	NUM
iiclr-27370	420	2	payment	payment	NOUN
iiclr-27370	420	3	tokens	token	NOUN
iiclr-27370	420	4	—	—	PUNCT
iiclr-27370	420	5	to	to	PART
iiclr-27370	420	6	obtain	obtain	VERB
iiclr-27370	420	7	a	a	DET
iiclr-27370	420	8	payment	payment	NOUN
iiclr-27370	420	9	institution	institution	NOUN
iiclr-27370	420	10	license.179	license.179	NOUN
iiclr-27370	420	11	in	in	ADP
iiclr-27370	420	12	an	an	DET
iiclr-27370	420	13	effort	effort	NOUN
iiclr-27370	420	14	to	to	PART
iiclr-27370	420	15	ensure	ensure	VERB
iiclr-27370	420	16	customer	customer	NOUN
iiclr-27370	420	17	protection	protection	NOUN
iiclr-27370	420	18	,	,	PUNCT
iiclr-27370	420	19	singapore	singapore	PROPN
iiclr-27370	420	20	has	have	AUX
iiclr-27370	420	21	been	be	AUX
iiclr-27370	420	22	very	very	ADV
iiclr-27370	420	23	selective	selective	ADJ
iiclr-27370	420	24	in	in	ADP
iiclr-27370	420	25	granting	grant	VERB
iiclr-27370	420	26	requests	request	NOUN
iiclr-27370	420	27	for	for	ADP
iiclr-27370	420	28	licensure.180	licensure.180	NOUN
iiclr-27370	420	29	there	there	PRON
iiclr-27370	420	30	are	be	VERB
iiclr-27370	420	31	two	two	NUM
iiclr-27370	420	32	types	type	NOUN
iiclr-27370	420	33	of	of	ADP
iiclr-27370	420	34	licenses	license	NOUN
iiclr-27370	420	35	that	that	PRON
iiclr-27370	420	36	apply	apply	VERB
iiclr-27370	420	37	to	to	ADP
iiclr-27370	420	38	digital	digital	ADJ
iiclr-27370	420	39	payment	payment	NOUN
iiclr-27370	420	40	services	service	NOUN
iiclr-27370	420	41	,	,	PUNCT
iiclr-27370	420	42	a	a	DET
iiclr-27370	420	43	standard	standard	ADJ
iiclr-27370	420	44	payment	payment	NOUN
iiclr-27370	420	45	institution	institution	NOUN
iiclr-27370	420	46	license	license	NOUN
iiclr-27370	420	47	and	and	CCONJ
iiclr-27370	420	48	a	a	DET
iiclr-27370	420	49	major	major	ADJ
iiclr-27370	420	50	payment	payment	NOUN
iiclr-27370	420	51	institution	institution	NOUN
iiclr-27370	420	52	license.181	license.181	VERB
iiclr-27370	420	53	the	the	DET
iiclr-27370	420	54	deciding	decide	VERB
iiclr-27370	420	55	factor	factor	NOUN
iiclr-27370	420	56	in	in	ADP
iiclr-27370	420	57	determining	determine	VERB
iiclr-27370	420	58	which	which	PRON
iiclr-27370	420	59	license	license	VERB
iiclr-27370	420	60	an	an	DET
iiclr-27370	420	61	exchange	exchange	NOUN
iiclr-27370	420	62	must	must	AUX
iiclr-27370	420	63	obtain	obtain	VERB
iiclr-27370	420	64	is	be	AUX
iiclr-27370	420	65	monthly	monthly	ADJ
iiclr-27370	420	66	transaction	transaction	NOUN
iiclr-27370	420	67	volume	volume	NOUN
iiclr-27370	420	68	—	—	PUNCT
iiclr-27370	420	69	companies	company	NOUN
iiclr-27370	420	70	whose	whose	DET
iiclr-27370	420	71	cryptocurrency	cryptocurrency	NOUN
iiclr-27370	420	72	transactions	transaction	NOUN
iiclr-27370	420	73	exceed	exceed	VERB
iiclr-27370	420	74	$	$	SYM
iiclr-27370	420	75	3	3	NUM
iiclr-27370	420	76	million	million	NUM
iiclr-27370	420	77	usd	usd	NOUN
iiclr-27370	420	78	monthly	monthly	ADJ
iiclr-27370	420	79	are	be	AUX
iiclr-27370	420	80	required	require	VERB
iiclr-27370	420	81	to	to	PART
iiclr-27370	420	82	obtain	obtain	VERB
iiclr-27370	420	83	a	a	DET
iiclr-27370	420	84	major	major	ADJ
iiclr-27370	420	85	payment	payment	NOUN
iiclr-27370	420	86	institution	institution	NOUN
iiclr-27370	420	87	license	license	NOUN
iiclr-27370	420	88	,	,	PUNCT
iiclr-27370	420	89	while	while	SCONJ
iiclr-27370	420	90	those	those	PRON
iiclr-27370	420	91	that	that	PRON
iiclr-27370	420	92	do	do	AUX
iiclr-27370	420	93	not	not	PART
iiclr-27370	420	94	reach	reach	VERB
iiclr-27370	420	95	this	this	DET
iiclr-27370	420	96	volume	volume	NOUN
iiclr-27370	420	97	in	in	ADP
iiclr-27370	420	98	cryptocurrency	cryptocurrency	NOUN
iiclr-27370	420	99	trades	trade	NOUN
iiclr-27370	420	100	are	be	AUX
iiclr-27370	420	101	only	only	ADV
iiclr-27370	420	102	required	require	VERB
iiclr-27370	420	103	to	to	PART
iiclr-27370	420	104	obtain	obtain	VERB
iiclr-27370	420	105	a	a	DET
iiclr-27370	420	106	standard	standard	ADJ
iiclr-27370	420	107	payment	payment	NOUN
iiclr-27370	420	108	institution	institution	NOUN
iiclr-27370	420	109	license.182	license.182	PROPN
iiclr-27370	420	110	this	this	DET
iiclr-27370	420	111	licensing	licensing	NOUN
iiclr-27370	420	112	requirement	requirement	NOUN
iiclr-27370	420	113	imposes	impose	VERB
iiclr-27370	420	114	fines	fine	NOUN
iiclr-27370	420	115	for	for	ADP
iiclr-27370	420	116	non	non	ADJ
iiclr-27370	420	117	-	-	ADJ
iiclr-27370	420	118	compliant	compliant	ADJ
iiclr-27370	420	119	digital	digital	ADJ
iiclr-27370	420	120	payment	payment	NOUN
iiclr-27370	420	121	service	service	NOUN
iiclr-27370	420	122	providers	provider	NOUN
iiclr-27370	420	123	,	,	PUNCT
iiclr-27370	420	124	namely	namely	ADV
iiclr-27370	420	125	an	an	DET
iiclr-27370	420	126	initial	initial	ADJ
iiclr-27370	420	127	fine	fine	NOUN
iiclr-27370	420	128	not	not	PART
iiclr-27370	420	129	exceeding	exceed	VERB
iiclr-27370	420	130	$	$	SYM
iiclr-27370	420	131	250,000	250,000	NUM
iiclr-27370	420	132	and	and	CCONJ
iiclr-27370	420	133	an	an	DET
iiclr-27370	420	134	additional	additional	ADJ
iiclr-27370	420	135	daily	daily	ADJ
iiclr-27370	420	136	fine	fine	NOUN
iiclr-27370	420	137	of	of	ADP
iiclr-27370	420	138	no	no	DET
iiclr-27370	420	139	more	more	ADJ
iiclr-27370	420	140	than	than	ADP
iiclr-27370	420	141	$	$	SYM
iiclr-27370	420	142	25,000	25,000	NUM
iiclr-27370	420	143	per	per	ADP
iiclr-27370	420	144	day.183	day.183	NOUN
iiclr-27370	420	145	the	the	DET
iiclr-27370	420	146	psa	psa	NOUN
iiclr-27370	420	147	prescribes	prescribe	VERB
iiclr-27370	420	148	requirements	requirement	NOUN
iiclr-27370	420	149	that	that	PRON
iiclr-27370	420	150	must	must	AUX
iiclr-27370	420	151	be	be	AUX
iiclr-27370	420	152	met	meet	VERB
iiclr-27370	420	153	by	by	ADP
iiclr-27370	420	154	a	a	DET
iiclr-27370	420	155	license	license	NOUN
iiclr-27370	420	156	applicant	applicant	NOUN
iiclr-27370	420	157	in	in	SCONJ
iiclr-27370	420	158	order	order	NOUN
iiclr-27370	420	159	to	to	PART
iiclr-27370	420	160	be	be	AUX
iiclr-27370	420	161	considered	consider	VERB
iiclr-27370	420	162	for	for	ADP
iiclr-27370	420	163	licensure.184	licensure.184	NOUN
iiclr-27370	420	164	an	an	DET
iiclr-27370	420	165	applicant	applicant	NOUN
iiclr-27370	420	166	must	must	AUX
iiclr-27370	420	167	maintain	maintain	VERB
iiclr-27370	420	168	a	a	DET
iiclr-27370	420	169	minimum	minimum	ADJ
iiclr-27370	420	170	base	base	NOUN
iiclr-27370	420	171	capital	capital	NOUN
iiclr-27370	420	172	of	of	ADP
iiclr-27370	420	173	$	$	SYM
iiclr-27370	420	174	100,000	100,000	NUM
iiclr-27370	420	175	if	if	SCONJ
iiclr-27370	420	176	applying	apply	VERB
iiclr-27370	420	177	for	for	ADP
iiclr-27370	420	178	a	a	DET
iiclr-27370	420	179	standard	standard	ADJ
iiclr-27370	420	180	payment	payment	NOUN
iiclr-27370	420	181	institution	institution	NOUN
iiclr-27370	420	182	license	license	NOUN
iiclr-27370	420	183	,	,	PUNCT
iiclr-27370	420	184	or	or	CCONJ
iiclr-27370	420	185	$	$	SYM
iiclr-27370	420	186	250,000	250,000	NUM
iiclr-27370	420	187	if	if	SCONJ
iiclr-27370	420	188	applying	apply	VERB
iiclr-27370	420	189	for	for	ADP
iiclr-27370	420	190	a	a	DET
iiclr-27370	420	191	major	major	ADJ
iiclr-27370	420	192	payment	payment	NOUN
iiclr-27370	420	193	institution	institution	NOUN
iiclr-27370	420	194	license.185	license.185	NOUN
iiclr-27370	420	195	further	far	ADV
iiclr-27370	420	196	,	,	PUNCT
iiclr-27370	420	197	an	an	DET
iiclr-27370	420	198	applicant	applicant	NOUN
iiclr-27370	420	199	shall	shall	AUX
iiclr-27370	420	200	not	not	PART
iiclr-27370	420	201	be	be	AUX
iiclr-27370	420	202	licensed	license	VERB
iiclr-27370	420	203	unless	unless	SCONJ
iiclr-27370	420	204	it	it	PRON
iiclr-27370	420	205	maintains	maintain	VERB
iiclr-27370	420	206	either	either	CCONJ
iiclr-27370	420	207	a	a	DET
iiclr-27370	420	208	permanent	permanent	ADJ
iiclr-27370	420	209	place	place	NOUN
iiclr-27370	420	210	of	of	ADP
iiclr-27370	420	211	business	business	NOUN
iiclr-27370	420	212	,	,	PUNCT
iiclr-27370	420	213	or	or	CCONJ
iiclr-27370	420	214	a	a	DET
iiclr-27370	420	215	registered	register	VERB
iiclr-27370	420	216	office	office	NOUN
iiclr-27370	420	217	in	in	ADP
iiclr-27370	420	218	singapore.186	singapore.186	PROPN
iiclr-27370	420	219	the	the	DET
iiclr-27370	420	220	licensee	licensee	NOUN
iiclr-27370	420	221	must	must	AUX
iiclr-27370	420	222	also	also	ADV
iiclr-27370	420	223	appoint	appoint	VERB
iiclr-27370	420	224	at	at	ADV
iiclr-27370	420	225	least	least	ADV
iiclr-27370	420	226	one	one	NUM
iiclr-27370	420	227	employee	employee	NOUN
iiclr-27370	420	228	to	to	PART
iiclr-27370	420	229	be	be	AUX
iiclr-27370	420	230	present	present	ADJ
iiclr-27370	420	231	at	at	ADP
iiclr-27370	420	232	this	this	DET
iiclr-27370	420	233	registered	register	VERB
iiclr-27370	420	234	office	office	NOUN
iiclr-27370	420	235	or	or	CCONJ
iiclr-27370	420	236	permanent	permanent	ADJ
iiclr-27370	420	237	place	place	NOUN
iiclr-27370	420	238	of	of	ADP
iiclr-27370	420	239	business	business	NOUN
iiclr-27370	420	240	at	at	ADP
iiclr-27370	420	241	any	any	DET
iiclr-27370	420	242	such	such	ADJ
iiclr-27370	420	243	hours	hour	NOUN
iiclr-27370	420	244	prescribed	prescribe	VERB
iiclr-27370	420	245	by	by	ADP
iiclr-27370	420	246	the	the	DET
iiclr-27370	420	247	mas.187	mas.187	NOUN
iiclr-27370	420	248	the	the	DET
iiclr-27370	420	249	mas	mas	PROPN
iiclr-27370	420	250	’s	’s	PART
iiclr-27370	420	251	intention	intention	NOUN
iiclr-27370	420	252	in	in	ADP
iiclr-27370	420	253	imposing	impose	VERB
iiclr-27370	420	254	this	this	DET
iiclr-27370	420	255	presence	presence	NOUN
iiclr-27370	420	256	requirement	requirement	NOUN
iiclr-27370	420	257	is	be	AUX
iiclr-27370	420	258	to	to	PART
iiclr-27370	420	259	assure	assure	VERB
iiclr-27370	420	260	that	that	SCONJ
iiclr-27370	420	261	cryptocurrency	cryptocurrency	NOUN
iiclr-27370	420	262	exchanges	exchange	NOUN
iiclr-27370	420	263	are	be	AUX
iiclr-27370	420	264	available	available	ADJ
iiclr-27370	420	265	to	to	PART
iiclr-27370	420	266	answer	answer	VERB
iiclr-27370	420	267	any	any	DET
iiclr-27370	420	268	queries	query	NOUN
iiclr-27370	420	269	or	or	CCONJ
iiclr-27370	420	270	address	address	VERB
iiclr-27370	420	271	any	any	DET
iiclr-27370	420	272	complaints	complaint	NOUN
iiclr-27370	420	273	that	that	SCONJ
iiclr-27370	420	274	its	its	PRON
iiclr-27370	420	275	customers	customer	NOUN
iiclr-27370	420	276	may	may	AUX
iiclr-27370	420	277	lodge.188	lodge.188	VERB
iiclr-27370	420	278	the	the	DET
iiclr-27370	420	279	licensee	licensee	NOUN
iiclr-27370	420	280	is	be	AUX
iiclr-27370	420	281	further	far	ADV
iiclr-27370	420	282	required	require	VERB
iiclr-27370	420	283	to	to	PART
iiclr-27370	420	284	keep	keep	VERB
iiclr-27370	420	285	records	record	NOUN
iiclr-27370	420	286	of	of	ADP
iiclr-27370	420	287	all	all	PRON
iiclr-27370	420	288	of	of	ADP
iiclr-27370	420	289	its	its	PRON
iiclr-27370	420	290	transactions	transaction	NOUN
iiclr-27370	420	291	available	available	ADJ
iiclr-27370	420	292	for	for	ADP
iiclr-27370	420	293	review	review	NOUN
iiclr-27370	420	294	at	at	ADP
iiclr-27370	420	295	its	its	PRON
iiclr-27370	420	296	place	place	NOUN
iiclr-27370	420	297	of	of	ADP
iiclr-27370	420	298	business.189	business.189	NOUN
iiclr-27370	420	299	once	once	SCONJ
iiclr-27370	420	300	exchanges	exchange	NOUN
iiclr-27370	420	301	are	be	AUX
iiclr-27370	420	302	granted	grant	VERB
iiclr-27370	420	303	licensure	licensure	NOUN
iiclr-27370	420	304	under	under	ADP
iiclr-27370	420	305	the	the	DET
iiclr-27370	420	306	psa	psa	NOUN
iiclr-27370	420	307	,	,	PUNCT
iiclr-27370	420	308	they	they	PRON
iiclr-27370	420	309	are	be	AUX
iiclr-27370	420	310	tasked	task	VERB
iiclr-27370	420	311	with	with	ADP
iiclr-27370	420	312	certain	certain	ADJ
iiclr-27370	420	313	notification	notification	NOUN
iiclr-27370	420	314	requirements	requirement	NOUN
iiclr-27370	420	315	,	,	PUNCT
iiclr-27370	420	316	obligating	obligate	VERB
iiclr-27370	420	317	them	they	PRON
iiclr-27370	420	318	to	to	PART
iiclr-27370	420	319	put	put	VERB
iiclr-27370	420	320	the	the	DET
iiclr-27370	420	321	mas	mas	PROPN
iiclr-27370	420	322	on	on	ADP
iiclr-27370	420	323	notice	notice	NOUN
iiclr-27370	420	324	in	in	ADP
iiclr-27370	420	325	case	case	NOUN
iiclr-27370	420	326	of	of	ADP
iiclr-27370	420	327	the	the	DET
iiclr-27370	420	328	occurrence	occurrence	NOUN
iiclr-27370	420	329	of	of	ADP
iiclr-27370	420	330	certain	certain	ADJ
iiclr-27370	420	331	events.190	events.190	ADP
iiclr-27370	420	332	these	these	DET
iiclr-27370	420	333	notification	notification	NOUN
iiclr-27370	420	334	requirements	requirement	NOUN
iiclr-27370	420	335	,	,	PUNCT
iiclr-27370	420	336	it	it	PRON
iiclr-27370	420	337	seems	seem	VERB
iiclr-27370	420	338	,	,	PUNCT
iiclr-27370	420	339	were	be	AUX
iiclr-27370	420	340	promulgated	promulgate	VERB
iiclr-27370	420	341	with	with	ADP
iiclr-27370	420	342	the	the	DET
iiclr-27370	420	343	goal	goal	NOUN
iiclr-27370	420	344	of	of	ADP
iiclr-27370	420	345	forcing	force	VERB
iiclr-27370	420	346	digital	digital	ADJ
iiclr-27370	420	347	payment	payment	NOUN
iiclr-27370	420	348	token	token	VERB
iiclr-27370	420	349	providers	provider	NOUN
iiclr-27370	420	350	179	179	NUM
iiclr-27370	420	351	.	.	PUNCT
iiclr-27370	421	1	i	i	PRON
iiclr-27370	421	2	d.	d.	PROPN
iiclr-27370	421	3	at	at	ADP
iiclr-27370	421	4	182	182	NUM
iiclr-27370	421	5	.	.	PUNCT
iiclr-27370	422	1	180	180	NUM
iiclr-27370	422	2	.	.	PUNCT
iiclr-27370	422	3	selva	selva	PROPN
iiclr-27370	422	4	ozelli	ozelli	PROPN
iiclr-27370	422	5	,	,	PUNCT
iiclr-27370	422	6	why	why	SCONJ
iiclr-27370	422	7	singapore	singapore	PROPN
iiclr-27370	422	8	is	be	AUX
iiclr-27370	422	9	one	one	NUM
iiclr-27370	422	10	of	of	ADP
iiclr-27370	422	11	the	the	DET
iiclr-27370	422	12	most	most	ADV
iiclr-27370	422	13	crypto	crypto	ADJ
iiclr-27370	422	14	-	-	ADJ
iiclr-27370	422	15	friendly	friendly	ADJ
iiclr-27370	422	16	countries	country	NOUN
iiclr-27370	422	17	,	,	PUNCT
iiclr-27370	422	18	cointelegraph	cointelegraph	NOUN
iiclr-27370	422	19	(	(	PUNCT
iiclr-27370	422	20	feb	feb	PROPN
iiclr-27370	422	21	.	.	PROPN
iiclr-27370	422	22	12	12	NUM
iiclr-27370	422	23	,	,	PUNCT
iiclr-27370	422	24	2022	2022	NUM
iiclr-27370	422	25	)	)	PUNCT
iiclr-27370	422	26	,	,	PUNCT
iiclr-27370	422	27	https://cointelegraph.com/news/why-singapore-is-one-of-themost-crypto-friendly-countries	https://cointelegraph.com/news/why-singapore-is-one-of-themost-crypto-friendly-countrie	NOUN
iiclr-27370	422	28	[	[	X
iiclr-27370	422	29	https://perma.cc/kp2f-sylh	https://perma.cc/kp2f-sylh	NUM
iiclr-27370	422	30	]	]	SYM
iiclr-27370	422	31	.	.	PUNCT
iiclr-27370	423	1	181	181	X
iiclr-27370	423	2	.	.	PUNCT
iiclr-27370	424	1	see	see	VERB
iiclr-27370	424	2	psa	psa	PROPN
iiclr-27370	424	3	,	,	PUNCT
iiclr-27370	424	4	supra	supra	PROPN
iiclr-27370	424	5	note	note	PROPN
iiclr-27370	424	6	177	177	NUM
iiclr-27370	424	7	,	,	PUNCT
iiclr-27370	424	8	at	at	ADP
iiclr-27370	424	9	22	22	NUM
iiclr-27370	424	10	-	-	SYM
iiclr-27370	424	11	23	23	NUM
iiclr-27370	424	12	.	.	PUNCT
iiclr-27370	424	13	182	182	NUM
iiclr-27370	424	14	.	.	PUNCT
iiclr-27370	425	1	ikigai	ikigai	PROPN
iiclr-27370	425	2	l.	l.	PROPN
iiclr-27370	425	3	,	,	PUNCT
iiclr-27370	425	4	supra	supra	PROPN
iiclr-27370	425	5	note	note	PROPN
iiclr-27370	425	6	172	172	NUM
iiclr-27370	425	7	.	.	NOUN
iiclr-27370	425	8	183	183	NUM
iiclr-27370	425	9	.	.	PUNCT
iiclr-27370	426	1	psa	psa	PROPN
iiclr-27370	426	2	,	,	PUNCT
iiclr-27370	426	3	supra	supra	PROPN
iiclr-27370	426	4	note	note	PROPN
iiclr-27370	426	5	177	177	NUM
iiclr-27370	426	6	,	,	PUNCT
iiclr-27370	426	7	at	at	ADP
iiclr-27370	426	8	22	22	NUM
iiclr-27370	426	9	.	.	PUNCT
iiclr-27370	427	1	184	184	X
iiclr-27370	427	2	.	.	PUNCT
iiclr-27370	427	3	see	see	VERB
iiclr-27370	427	4	i	i	PRON
iiclr-27370	427	5	d.	d.	PROPN
iiclr-27370	427	6	185	185	NUM
iiclr-27370	427	7	.	.	PUNCT
iiclr-27370	428	1	standard	standard	ADJ
iiclr-27370	428	2	payment	payment	NOUN
iiclr-27370	428	3	institution	institution	NOUN
iiclr-27370	428	4	licence	licence	NOUN
iiclr-27370	428	5	,	,	PUNCT
iiclr-27370	428	6	monetary	monetary	ADJ
iiclr-27370	428	7	auth	auth	NOUN
iiclr-27370	428	8	.	.	PUNCT
iiclr-27370	429	1	of	of	ADP
iiclr-27370	429	2	sing	se	VERB
iiclr-27370	429	3	.	.	PUNCT
iiclr-27370	429	4	,	,	PUNCT
iiclr-27370	429	5	https://www.mas.gov	https://www.mas.gov	PROPN
iiclr-27370	429	6	.	.	PUNCT
iiclr-27370	429	7	sg	sg	PROPN
iiclr-27370	429	8	/	/	SYM
iiclr-27370	429	9	regulation	regulation	NOUN
iiclr-27370	429	10	/	/	SYM
iiclr-27370	429	11	payments	payment	NOUN
iiclr-27370	429	12	/	/	SYM
iiclr-27370	429	13	standard	standard	ADJ
iiclr-27370	429	14	-	-	PUNCT
iiclr-27370	429	15	payment	payment	NOUN
iiclr-27370	429	16	-	-	PUNCT
iiclr-27370	429	17	institution	institution	NOUN
iiclr-27370	429	18	-	-	PUNCT
iiclr-27370	429	19	licence	licence	NOUN
iiclr-27370	429	20	[	[	X
iiclr-27370	429	21	https://perma.cc/mf64-kgxa	https://perma.cc/mf64-kgxa	X
iiclr-27370	429	22	]	]	X
iiclr-27370	429	23	;	;	PUNCT
iiclr-27370	429	24	major	major	ADJ
iiclr-27370	429	25	payment	payment	NOUN
iiclr-27370	429	26	institution	institution	NOUN
iiclr-27370	429	27	licence	licence	NOUN
iiclr-27370	429	28	,	,	PUNCT
iiclr-27370	429	29	monetary	monetary	ADJ
iiclr-27370	429	30	auth	auth	NOUN
iiclr-27370	429	31	.	.	PUNCT
iiclr-27370	430	1	of	of	ADP
iiclr-27370	430	2	sing	se	VERB
iiclr-27370	430	3	.	.	PUNCT
iiclr-27370	431	1	,	,	PUNCT
iiclr-27370	431	2	https://www.mas.gov.sg/	https://www.mas.gov.sg/	PROPN
iiclr-27370	431	3	regulation	regulation	NOUN
iiclr-27370	431	4	/	/	SYM
iiclr-27370	431	5	payments	payment	NOUN
iiclr-27370	431	6	/	/	SYM
iiclr-27370	431	7	major	major	ADJ
iiclr-27370	431	8	-	-	PUNCT
iiclr-27370	431	9	payment	payment	NOUN
iiclr-27370	431	10	-	-	PUNCT
iiclr-27370	431	11	institution	institution	NOUN
iiclr-27370	431	12	-	-	PUNCT
iiclr-27370	431	13	licence	licence	NOUN
iiclr-27370	431	14	[	[	X
iiclr-27370	431	15	https://perma.cc/45p8-c4s8	https://perma.cc/45p8-c4s8	NUM
iiclr-27370	431	16	]	]	SYM
iiclr-27370	431	17	.	.	PUNCT
iiclr-27370	432	1	186	186	NUM
iiclr-27370	432	2	.	.	PUNCT
iiclr-27370	433	1	psa	psa	PROPN
iiclr-27370	433	2	,	,	PUNCT
iiclr-27370	433	3	supra	supra	PROPN
iiclr-27370	433	4	note	note	PROPN
iiclr-27370	433	5	177	177	NUM
iiclr-27370	433	6	,	,	PUNCT
iiclr-27370	433	7	at	at	ADP
iiclr-27370	433	8	25	25	NUM
iiclr-27370	433	9	.	.	PUNCT
iiclr-27370	433	10	187	187	NUM
iiclr-27370	433	11	.	.	PUNCT
iiclr-27370	434	1	i	i	PRON
iiclr-27370	434	2	d.	d.	PROPN
iiclr-27370	434	3	at	at	ADP
iiclr-27370	434	4	42	42	NUM
iiclr-27370	434	5	.	.	PUNCT
iiclr-27370	435	1	188	188	NUM
iiclr-27370	435	2	.	.	PUNCT
iiclr-27370	436	1	i	i	PRON
iiclr-27370	436	2	d.	d.	PROPN
iiclr-27370	436	3	at	at	ADP
iiclr-27370	436	4	85	85	NUM
iiclr-27370	436	5	.	.	PUNCT
iiclr-27370	436	6	189	189	NUM
iiclr-27370	436	7	.	.	PUNCT
iiclr-27370	437	1	i	i	PRON
iiclr-27370	437	2	d.	d.	PROPN
iiclr-27370	437	3	at	at	ADP
iiclr-27370	437	4	41	41	NUM
iiclr-27370	437	5	.	.	PUNCT
iiclr-27370	438	1	190	190	NUM
iiclr-27370	438	2	.	.	PUNCT
iiclr-27370	439	1	i	i	PRON
iiclr-27370	439	2	d.	d.	PROPN
iiclr-27370	439	3	at	at	ADP
iiclr-27370	439	4	42	42	NUM
iiclr-27370	439	5	.	.	PUNCT
iiclr-27370	440	1	2023	2023	NUM
iiclr-27370	440	2	]	]	PUNCT
iiclr-27370	440	3	the	the	DET
iiclr-27370	440	4	wild	wild	ADJ
iiclr-27370	440	5	west	west	NOUN
iiclr-27370	440	6	,	,	PUNCT
iiclr-27370	440	7	cryptocurrency	cryptocurrency	NOUN
iiclr-27370	440	8	,	,	PUNCT
iiclr-27370	440	9	and	and	CCONJ
iiclr-27370	440	10	singapore	singapore	PROPN
iiclr-27370	440	11	213	213	NUM
iiclr-27370	440	12	to	to	PART
iiclr-27370	440	13	maintain	maintain	VERB
iiclr-27370	440	14	a	a	DET
iiclr-27370	440	15	minimum	minimum	ADJ
iiclr-27370	440	16	level	level	NOUN
iiclr-27370	440	17	of	of	ADP
iiclr-27370	440	18	transparency	transparency	NOUN
iiclr-27370	440	19	with	with	ADP
iiclr-27370	440	20	the	the	DET
iiclr-27370	440	21	mas	mas	PROPN
iiclr-27370	440	22	.	.	PUNCT
iiclr-27370	441	1	the	the	DET
iiclr-27370	441	2	psa	psa	NOUN
iiclr-27370	441	3	enumerates	enumerate	VERB
iiclr-27370	441	4	some	some	PRON
iiclr-27370	441	5	of	of	ADP
iiclr-27370	441	6	the	the	DET
iiclr-27370	441	7	events	event	NOUN
iiclr-27370	441	8	that	that	PRON
iiclr-27370	441	9	will	will	AUX
iiclr-27370	441	10	trigger	trigger	VERB
iiclr-27370	441	11	this	this	DET
iiclr-27370	441	12	reporting	reporting	NOUN
iiclr-27370	441	13	requirement	requirement	NOUN
iiclr-27370	441	14	,	,	PUNCT
iiclr-27370	441	15	including	include	VERB
iiclr-27370	441	16	legal	legal	ADJ
iiclr-27370	441	17	proceedings	proceeding	NOUN
iiclr-27370	441	18	brought	bring	VERB
iiclr-27370	441	19	against	against	ADP
iiclr-27370	441	20	the	the	DET
iiclr-27370	441	21	licensee	licensee	NOUN
iiclr-27370	441	22	,	,	PUNCT
iiclr-27370	441	23	any	any	DET
iiclr-27370	441	24	event	event	NOUN
iiclr-27370	441	25	that	that	PRON
iiclr-27370	441	26	impedes	impede	VERB
iiclr-27370	441	27	the	the	DET
iiclr-27370	441	28	operations	operation	NOUN
iiclr-27370	441	29	of	of	ADP
iiclr-27370	441	30	the	the	DET
iiclr-27370	441	31	licensee	licensee	NOUN
iiclr-27370	441	32	,	,	PUNCT
iiclr-27370	441	33	and	and	CCONJ
iiclr-27370	441	34	the	the	DET
iiclr-27370	441	35	licensee	licensee	NOUN
iiclr-27370	441	36	’s	’s	PART
iiclr-27370	441	37	becoming	become	VERB
iiclr-27370	441	38	insolvent	insolvent	ADJ
iiclr-27370	441	39	or	or	CCONJ
iiclr-27370	441	40	unable	unable	ADJ
iiclr-27370	441	41	to	to	PART
iiclr-27370	441	42	meet	meet	VERB
iiclr-27370	441	43	its	its	PRON
iiclr-27370	441	44	obligations.191	obligations.191	NOUN
iiclr-27370	441	45	further	far	ADV
iiclr-27370	441	46	,	,	PUNCT
iiclr-27370	441	47	licensees	licensee	NOUN
iiclr-27370	441	48	are	be	AUX
iiclr-27370	441	49	required	require	VERB
iiclr-27370	441	50	to	to	PART
iiclr-27370	441	51	report	report	VERB
iiclr-27370	441	52	any	any	DET
iiclr-27370	441	53	disciplinary	disciplinary	ADJ
iiclr-27370	441	54	action	action	NOUN
iiclr-27370	441	55	taken	take	VERB
iiclr-27370	441	56	against	against	ADP
iiclr-27370	441	57	it	it	PRON
iiclr-27370	441	58	by	by	ADP
iiclr-27370	441	59	any	any	DET
iiclr-27370	441	60	regulatory	regulatory	ADJ
iiclr-27370	441	61	authority	authority	NOUN
iiclr-27370	441	62	and	and	CCONJ
iiclr-27370	441	63	any	any	DET
iiclr-27370	441	64	significant	significant	ADJ
iiclr-27370	441	65	change	change	NOUN
iiclr-27370	441	66	to	to	ADP
iiclr-27370	441	67	the	the	DET
iiclr-27370	441	68	regulatory	regulatory	ADJ
iiclr-27370	441	69	requirements	requirement	NOUN
iiclr-27370	441	70	imposed	impose	VERB
iiclr-27370	441	71	on	on	ADP
iiclr-27370	441	72	it	it	PRON
iiclr-27370	441	73	by	by	ADP
iiclr-27370	441	74	any	any	DET
iiclr-27370	441	75	regulatory	regulatory	ADJ
iiclr-27370	441	76	authority.192	authority.192	NOUN
iiclr-27370	441	77	the	the	DET
iiclr-27370	441	78	mas	mas	PROPN
iiclr-27370	441	79	also	also	ADV
iiclr-27370	441	80	retains	retain	VERB
iiclr-27370	441	81	the	the	DET
iiclr-27370	441	82	authority	authority	NOUN
iiclr-27370	441	83	to	to	PART
iiclr-27370	441	84	require	require	VERB
iiclr-27370	441	85	disclosure	disclosure	NOUN
iiclr-27370	441	86	of	of	ADP
iiclr-27370	441	87	any	any	DET
iiclr-27370	441	88	other	other	ADJ
iiclr-27370	441	89	event	event	NOUN
iiclr-27370	441	90	,	,	PUNCT
iiclr-27370	441	91	prescribed	prescribe	VERB
iiclr-27370	441	92	by	by	ADP
iiclr-27370	441	93	notice	notice	NOUN
iiclr-27370	441	94	in	in	ADP
iiclr-27370	441	95	writing.193	writing.193	PROPN
iiclr-27370	441	96	further	far	ADV
iiclr-27370	441	97	,	,	PUNCT
iiclr-27370	441	98	licensees	licensee	NOUN
iiclr-27370	441	99	are	be	AUX
iiclr-27370	441	100	required	require	VERB
iiclr-27370	441	101	to	to	PART
iiclr-27370	441	102	notify	notify	VERB
iiclr-27370	441	103	the	the	DET
iiclr-27370	441	104	mas	mas	PROPN
iiclr-27370	441	105	,	,	PUNCT
iiclr-27370	441	106	within	within	ADP
iiclr-27370	441	107	two	two	NUM
iiclr-27370	441	108	weeks	week	NOUN
iiclr-27370	441	109	,	,	PUNCT
iiclr-27370	441	110	of	of	ADP
iiclr-27370	441	111	particular	particular	ADJ
iiclr-27370	441	112	changes	change	NOUN
iiclr-27370	441	113	in	in	ADP
iiclr-27370	441	114	leadership	leadership	NOUN
iiclr-27370	441	115	of	of	ADP
iiclr-27370	441	116	the	the	DET
iiclr-27370	441	117	company.194	company.194	PROPN
iiclr-27370	441	118	in	in	ADP
iiclr-27370	441	119	order	order	NOUN
iiclr-27370	441	120	to	to	PART
iiclr-27370	441	121	ensure	ensure	VERB
iiclr-27370	441	122	transparency	transparency	NOUN
iiclr-27370	441	123	,	,	PUNCT
iiclr-27370	441	124	the	the	DET
iiclr-27370	441	125	psa	psa	NOUN
iiclr-27370	441	126	includes	include	VERB
iiclr-27370	441	127	something	something	PRON
iiclr-27370	441	128	of	of	ADP
iiclr-27370	441	129	a	a	DET
iiclr-27370	441	130	catch	catch	NOUN
iiclr-27370	441	131	-	-	PUNCT
iiclr-27370	441	132	all	all	DET
iiclr-27370	441	133	provision	provision	NOUN
iiclr-27370	441	134	.	.	PUNCT
iiclr-27370	442	1	according	accord	VERB
iiclr-27370	442	2	to	to	ADP
iiclr-27370	442	3	psa	psa	VERB
iiclr-27370	442	4	article	article	NOUN
iiclr-27370	442	5	16	16	NUM
iiclr-27370	442	6	,	,	PUNCT
iiclr-27370	442	7	the	the	DET
iiclr-27370	442	8	mas	mas	PROPN
iiclr-27370	442	9	may	may	AUX
iiclr-27370	442	10	require	require	VERB
iiclr-27370	442	11	a	a	DET
iiclr-27370	442	12	licensee	licensee	NOUN
iiclr-27370	442	13	to	to	PART
iiclr-27370	442	14	provide	provide	VERB
iiclr-27370	442	15	any	any	DET
iiclr-27370	442	16	information	information	NOUN
iiclr-27370	442	17	relating	relate	VERB
iiclr-27370	442	18	to	to	ADP
iiclr-27370	442	19	its	its	PRON
iiclr-27370	442	20	operation	operation	NOUN
iiclr-27370	442	21	of	of	ADP
iiclr-27370	442	22	payment	payment	NOUN
iiclr-27370	442	23	services	service	NOUN
iiclr-27370	442	24	as	as	SCONJ
iiclr-27370	442	25	it	it	PRON
iiclr-27370	442	26	may	may	AUX
iiclr-27370	442	27	prescribe.195	prescribe.195	VERB
iiclr-27370	442	28	although	although	SCONJ
iiclr-27370	442	29	this	this	DET
iiclr-27370	442	30	transparency	transparency	NOUN
iiclr-27370	442	31	obligation	obligation	NOUN
iiclr-27370	442	32	extends	extend	VERB
iiclr-27370	442	33	to	to	ADP
iiclr-27370	442	34	all	all	DET
iiclr-27370	442	35	matters	matter	NOUN
iiclr-27370	442	36	,	,	PUNCT
iiclr-27370	442	37	payment	payment	NOUN
iiclr-27370	442	38	service	service	NOUN
iiclr-27370	442	39	providers	provider	NOUN
iiclr-27370	442	40	are	be	AUX
iiclr-27370	442	41	frequently	frequently	ADV
iiclr-27370	442	42	required	require	VERB
iiclr-27370	442	43	to	to	PART
iiclr-27370	442	44	disclose	disclose	VERB
iiclr-27370	442	45	information	information	NOUN
iiclr-27370	442	46	to	to	ADP
iiclr-27370	442	47	the	the	DET
iiclr-27370	442	48	mas	mas	PROPN
iiclr-27370	442	49	relating	relate	VERB
iiclr-27370	442	50	to	to	ADP
iiclr-27370	442	51	payment	payment	NOUN
iiclr-27370	442	52	service	service	NOUN
iiclr-27370	442	53	operations	operation	NOUN
iiclr-27370	442	54	and	and	CCONJ
iiclr-27370	442	55	the	the	DET
iiclr-27370	442	56	pricing	pricing	NOUN
iiclr-27370	442	57	of	of	ADP
iiclr-27370	442	58	any	any	DET
iiclr-27370	442	59	payment	payment	NOUN
iiclr-27370	442	60	services	service	NOUN
iiclr-27370	442	61	that	that	PRON
iiclr-27370	442	62	are	be	AUX
iiclr-27370	442	63	offered.196	offered.196	ADJ
iiclr-27370	442	64	these	these	DET
iiclr-27370	442	65	obligations	obligation	NOUN
iiclr-27370	442	66	are	be	AUX
iiclr-27370	442	67	enforceable	enforceable	ADJ
iiclr-27370	442	68	despite	despite	SCONJ
iiclr-27370	442	69	any	any	DET
iiclr-27370	442	70	potential	potential	ADJ
iiclr-27370	442	71	privileges	privilege	NOUN
iiclr-27370	442	72	or	or	CCONJ
iiclr-27370	442	73	secrecy	secrecy	NOUN
iiclr-27370	442	74	requirements.197	requirements.197	NOUN
iiclr-27370	442	75	as	as	ADP
iiclr-27370	442	76	an	an	DET
iiclr-27370	442	77	additional	additional	ADJ
iiclr-27370	442	78	consumer	consumer	NOUN
iiclr-27370	442	79	protection	protection	NOUN
iiclr-27370	442	80	precaution	precaution	NOUN
iiclr-27370	442	81	,	,	PUNCT
iiclr-27370	442	82	major	major	ADJ
iiclr-27370	442	83	payment	payment	NOUN
iiclr-27370	442	84	institutions	institution	NOUN
iiclr-27370	442	85	are	be	AUX
iiclr-27370	442	86	required	require	VERB
iiclr-27370	442	87	to	to	PART
iiclr-27370	442	88	maintain	maintain	VERB
iiclr-27370	442	89	a	a	DET
iiclr-27370	442	90	prescribed	prescribed	ADJ
iiclr-27370	442	91	monetary	monetary	ADJ
iiclr-27370	442	92	security	security	NOUN
iiclr-27370	442	93	amount	amount	NOUN
iiclr-27370	442	94	with	with	ADP
iiclr-27370	442	95	the	the	DET
iiclr-27370	442	96	mas	mas	PROPN
iiclr-27370	442	97	,	,	PUNCT
iiclr-27370	442	98	or	or	CCONJ
iiclr-27370	442	99	its	its	PRON
iiclr-27370	442	100	equivalent	equivalent	NOUN
iiclr-27370	442	101	in	in	ADP
iiclr-27370	442	102	a	a	DET
iiclr-27370	442	103	foreign	foreign	ADJ
iiclr-27370	442	104	currency	currency	NOUN
iiclr-27370	442	105	,	,	PUNCT
iiclr-27370	442	106	for	for	ADP
iiclr-27370	442	107	the	the	DET
iiclr-27370	442	108	performance	performance	NOUN
iiclr-27370	442	109	of	of	ADP
iiclr-27370	442	110	its	its	PRON
iiclr-27370	442	111	obligations	obligation	NOUN
iiclr-27370	442	112	to	to	ADP
iiclr-27370	442	113	its	its	PRON
iiclr-27370	442	114	users.198	users.198	NOUN
iiclr-27370	442	115	by	by	ADP
iiclr-27370	442	116	imposing	impose	VERB
iiclr-27370	442	117	this	this	DET
iiclr-27370	442	118	security	security	NOUN
iiclr-27370	442	119	obligation	obligation	NOUN
iiclr-27370	442	120	and	and	CCONJ
iiclr-27370	442	121	giving	give	VERB
iiclr-27370	442	122	itself	itself	PRON
iiclr-27370	442	123	custody	custody	NOUN
iiclr-27370	442	124	over	over	ADP
iiclr-27370	442	125	these	these	DET
iiclr-27370	442	126	securities	security	NOUN
iiclr-27370	442	127	,	,	PUNCT
iiclr-27370	442	128	the	the	DET
iiclr-27370	442	129	mas	mas	PROPN
iiclr-27370	442	130	effectively	effectively	ADV
iiclr-27370	442	131	allows	allow	VERB
iiclr-27370	442	132	exchanges	exchange	NOUN
iiclr-27370	442	133	to	to	PART
iiclr-27370	442	134	repay	repay	VERB
iiclr-27370	442	135	customers	customer	NOUN
iiclr-27370	442	136	who	who	PRON
iiclr-27370	442	137	lose	lose	VERB
iiclr-27370	442	138	their	their	PRON
iiclr-27370	442	139	cryptocurrencies	cryptocurrencie	NOUN
iiclr-27370	442	140	in	in	ADP
iiclr-27370	442	141	the	the	DET
iiclr-27370	442	142	event	event	NOUN
iiclr-27370	442	143	that	that	SCONJ
iiclr-27370	442	144	the	the	DET
iiclr-27370	442	145	exchange	exchange	NOUN
iiclr-27370	442	146	either	either	CCONJ
iiclr-27370	442	147	surrenders	surrender	VERB
iiclr-27370	442	148	its	its	PRON
iiclr-27370	442	149	license	license	NOUN
iiclr-27370	442	150	or	or	CCONJ
iiclr-27370	442	151	has	have	VERB
iiclr-27370	442	152	it	it	PRON
iiclr-27370	442	153	revoked.199	revoked.199	VERB
iiclr-27370	442	154	if	if	SCONJ
iiclr-27370	442	155	a	a	DET
iiclr-27370	442	156	hypothetical	hypothetical	ADJ
iiclr-27370	442	157	loss	loss	NOUN
iiclr-27370	442	158	of	of	ADP
iiclr-27370	442	159	licensure	licensure	NOUN
iiclr-27370	442	160	were	be	AUX
iiclr-27370	442	161	to	to	PART
iiclr-27370	442	162	occur	occur	VERB
iiclr-27370	442	163	,	,	PUNCT
iiclr-27370	442	164	the	the	DET
iiclr-27370	442	165	mas	mas	PROPN
iiclr-27370	442	166	would	would	AUX
iiclr-27370	442	167	release	release	VERB
iiclr-27370	442	168	the	the	DET
iiclr-27370	442	169	security	security	NOUN
iiclr-27370	442	170	to	to	ADP
iiclr-27370	442	171	the	the	DET
iiclr-27370	442	172	major	major	ADJ
iiclr-27370	442	173	payment	payment	NOUN
iiclr-27370	442	174	institution	institution	NOUN
iiclr-27370	442	175	,	,	PUNCT
iiclr-27370	442	176	which	which	PRON
iiclr-27370	442	177	would	would	AUX
iiclr-27370	442	178	use	use	VERB
iiclr-27370	442	179	this	this	DET
iiclr-27370	442	180	money	money	NOUN
iiclr-27370	442	181	to	to	PART
iiclr-27370	442	182	pay	pay	VERB
iiclr-27370	442	183	back	back	ADP
iiclr-27370	442	184	any	any	DET
iiclr-27370	442	185	outstanding	outstanding	ADJ
iiclr-27370	442	186	claims	claim	NOUN
iiclr-27370	442	187	from	from	ADP
iiclr-27370	442	188	customers	customer	NOUN
iiclr-27370	442	189	that	that	PRON
iiclr-27370	442	190	might	might	AUX
iiclr-27370	442	191	exist.200	exist.200	NOUN
iiclr-27370	442	192	in	in	ADP
iiclr-27370	442	193	the	the	DET
iiclr-27370	442	194	event	event	NOUN
iiclr-27370	442	195	of	of	ADP
iiclr-27370	442	196	a	a	DET
iiclr-27370	442	197	loss	loss	NOUN
iiclr-27370	442	198	in	in	ADP
iiclr-27370	442	199	licensure	licensure	NOUN
iiclr-27370	442	200	,	,	PUNCT
iiclr-27370	442	201	an	an	DET
iiclr-27370	442	202	exchange	exchange	NOUN
iiclr-27370	442	203	has	have	VERB
iiclr-27370	442	204	forty	forty	NUM
iiclr-27370	442	205	-	-	PUNCT
iiclr-27370	442	206	five	five	NUM
iiclr-27370	442	207	days	day	NOUN
iiclr-27370	442	208	to	to	PART
iiclr-27370	442	209	release	release	VERB
iiclr-27370	442	210	this	this	DET
iiclr-27370	442	211	security	security	NOUN
iiclr-27370	442	212	amount	amount	NOUN
iiclr-27370	442	213	to	to	ADP
iiclr-27370	442	214	its	its	PRON
iiclr-27370	442	215	customers	customer	NOUN
iiclr-27370	442	216	,	,	PUNCT
iiclr-27370	442	217	and	and	CCONJ
iiclr-27370	442	218	it	it	PRON
iiclr-27370	442	219	must	must	AUX
iiclr-27370	442	220	supply	supply	VERB
iiclr-27370	442	221	an	an	DET
iiclr-27370	442	222	audit	audit	NOUN
iiclr-27370	442	223	certificate	certificate	NOUN
iiclr-27370	442	224	to	to	ADP
iiclr-27370	442	225	the	the	DET
iiclr-27370	442	226	mas	mas	PROPN
iiclr-27370	442	227	indicating	indicate	VERB
iiclr-27370	442	228	that	that	SCONJ
iiclr-27370	442	229	security	security	NOUN
iiclr-27370	442	230	was	be	AUX
iiclr-27370	442	231	used	use	VERB
iiclr-27370	442	232	for	for	ADP
iiclr-27370	442	233	this	this	DET
iiclr-27370	442	234	purpose.201	purpose.201	NOUN
iiclr-27370	442	235	these	these	DET
iiclr-27370	442	236	requirements	requirement	NOUN
iiclr-27370	442	237	imposed	impose	VERB
iiclr-27370	442	238	by	by	ADP
iiclr-27370	442	239	the	the	DET
iiclr-27370	442	240	psa	psa	NOUN
iiclr-27370	442	241	effectively	effectively	ADV
iiclr-27370	442	242	force	force	VERB
iiclr-27370	442	243	cryptocurrency	cryptocurrency	NOUN
iiclr-27370	442	244	exchanges	exchange	NOUN
iiclr-27370	442	245	to	to	PART
iiclr-27370	442	246	maintain	maintain	VERB
iiclr-27370	442	247	a	a	DET
iiclr-27370	442	248	minimum	minimum	ADJ
iiclr-27370	442	249	level	level	NOUN
iiclr-27370	442	250	of	of	ADP
iiclr-27370	442	251	transparency	transparency	NOUN
iiclr-27370	442	252	with	with	ADP
iiclr-27370	442	253	both	both	CCONJ
iiclr-27370	442	254	its	its	PRON
iiclr-27370	442	255	customers	customer	NOUN
iiclr-27370	442	256	and	and	CCONJ
iiclr-27370	442	257	the	the	DET
iiclr-27370	442	258	mas	mas	PROPN
iiclr-27370	442	259	.	.	PROPN
iiclr-27370	443	1	in	in	ADP
iiclr-27370	443	2	doing	do	VERB
iiclr-27370	443	3	so	so	ADV
iiclr-27370	443	4	,	,	PUNCT
iiclr-27370	443	5	the	the	DET
iiclr-27370	443	6	mas	mas	PROPN
iiclr-27370	443	7	maintains	maintain	VERB
iiclr-27370	443	8	a	a	DET
iiclr-27370	443	9	regulatory	regulatory	ADJ
iiclr-27370	443	10	oversight	oversight	NOUN
iiclr-27370	443	11	and	and	CCONJ
iiclr-27370	443	12	imposes	impose	VERB
iiclr-27370	443	13	minimum	minimum	ADJ
iiclr-27370	443	14	safety	safety	NOUN
iiclr-27370	443	15	requirements	requirement	NOUN
iiclr-27370	443	16	that	that	SCONJ
iiclr-27370	443	17	exchanges	exchange	NOUN
iiclr-27370	443	18	are	be	AUX
iiclr-27370	443	19	required	require	VERB
iiclr-27370	443	20	to	to	PART
iiclr-27370	443	21	comply	comply	VERB
iiclr-27370	443	22	with	with	ADP
iiclr-27370	443	23	in	in	ADP
iiclr-27370	443	24	order	order	NOUN
iiclr-27370	443	25	191	191	NUM
iiclr-27370	443	26	.	.	PUNCT
iiclr-27370	444	1	i	i	PRON
iiclr-27370	444	2	d.	d.	PROPN
iiclr-27370	444	3	192	192	NUM
iiclr-27370	444	4	.	.	PUNCT
iiclr-27370	445	1	i	i	PRON
iiclr-27370	445	2	d.	d.	PROPN
iiclr-27370	445	3	193	193	NUM
iiclr-27370	445	4	.	.	PUNCT
iiclr-27370	446	1	i	i	PRON
iiclr-27370	446	2	d.	d.	PROPN
iiclr-27370	446	3	194	194	NUM
iiclr-27370	446	4	.	.	PUNCT
iiclr-27370	447	1	i	i	PRON
iiclr-27370	447	2	d.	d.	PROPN
iiclr-27370	447	3	195	195	NUM
iiclr-27370	447	4	.	.	PUNCT
iiclr-27370	448	1	i	i	PRON
iiclr-27370	448	2	d.	d.	PROPN
iiclr-27370	448	3	at	at	ADP
iiclr-27370	448	4	43	43	NUM
iiclr-27370	448	5	.	.	PUNCT
iiclr-27370	449	1	196	196	NUM
iiclr-27370	449	2	.	.	PUNCT
iiclr-27370	450	1	i	i	PRON
iiclr-27370	450	2	d.	d.	PROPN
iiclr-27370	450	3	197	197	NUM
iiclr-27370	450	4	.	.	PUNCT
iiclr-27370	451	1	i	i	PRON
iiclr-27370	451	2	d.	d.	PROPN
iiclr-27370	451	3	198	198	NUM
iiclr-27370	451	4	.	.	PUNCT
iiclr-27370	452	1	i	i	PRON
iiclr-27370	452	2	d.	d.	PROPN
iiclr-27370	452	3	at	at	ADP
iiclr-27370	452	4	48	48	NUM
iiclr-27370	452	5	.	.	PUNCT
iiclr-27370	452	6	199	199	NUM
iiclr-27370	452	7	.	.	PUNCT
iiclr-27370	453	1	see	see	VERB
iiclr-27370	453	2	i	i	PRON
iiclr-27370	453	3	d.	d.	PROPN
iiclr-27370	453	4	at	at	ADP
iiclr-27370	453	5	48	48	NUM
iiclr-27370	453	6	-	-	SYM
iiclr-27370	453	7	49	49	NUM
iiclr-27370	453	8	.	.	PUNCT
iiclr-27370	454	1	200	200	NUM
iiclr-27370	454	2	.	.	PUNCT
iiclr-27370	455	1	i	i	PRON
iiclr-27370	455	2	d.	d.	PROPN
iiclr-27370	455	3	201	201	NUM
iiclr-27370	455	4	.	.	PUNCT
iiclr-27370	456	1	i	i	PRON
iiclr-27370	456	2	d.	d.	PROPN
iiclr-27370	456	3	at	at	ADP
iiclr-27370	456	4	49	49	NUM
iiclr-27370	456	5	.	.	PUNCT
iiclr-27370	457	1	214	214	NUM
iiclr-27370	457	2	indiana	indiana	PROPN
iiclr-27370	457	3	int’l	int’l	NOUN
iiclr-27370	457	4	&	&	CCONJ
iiclr-27370	457	5	comp	comp	PROPN
iiclr-27370	457	6	.	.	PUNCT
iiclr-27370	458	1	law	law	NOUN
iiclr-27370	458	2	review	review	NOUN
iiclr-27370	459	1	[	[	X
iiclr-27370	459	2	vol	vol	NOUN
iiclr-27370	459	3	.	.	PUNCT
iiclr-27370	459	4	33:191	33:191	NUM
iiclr-27370	459	5	to	to	PART
iiclr-27370	459	6	operate	operate	VERB
iiclr-27370	459	7	in	in	ADP
iiclr-27370	459	8	the	the	DET
iiclr-27370	459	9	singaporean	singaporean	ADJ
iiclr-27370	459	10	market	market	NOUN
iiclr-27370	459	11	.	.	PUNCT
iiclr-27370	460	1	these	these	DET
iiclr-27370	460	2	psa	psa	NOUN
iiclr-27370	460	3	requirements	requirement	NOUN
iiclr-27370	460	4	are	be	AUX
iiclr-27370	460	5	effective	effective	ADJ
iiclr-27370	460	6	,	,	PUNCT
iiclr-27370	460	7	as	as	SCONJ
iiclr-27370	460	8	they	they	PRON
iiclr-27370	460	9	give	give	VERB
iiclr-27370	460	10	singaporean	singaporean	ADJ
iiclr-27370	460	11	cryptocurrency	cryptocurrency	NOUN
iiclr-27370	460	12	holders	holder	NOUN
iiclr-27370	460	13	a	a	DET
iiclr-27370	460	14	level	level	NOUN
iiclr-27370	460	15	of	of	ADP
iiclr-27370	460	16	protection	protection	NOUN
iiclr-27370	460	17	and	and	CCONJ
iiclr-27370	460	18	act	act	NOUN
iiclr-27370	460	19	as	as	ADP
iiclr-27370	460	20	a	a	DET
iiclr-27370	460	21	means	means	NOUN
iiclr-27370	460	22	of	of	ADP
iiclr-27370	460	23	mitigating	mitigate	VERB
iiclr-27370	460	24	some	some	PRON
iiclr-27370	460	25	of	of	ADP
iiclr-27370	460	26	the	the	DET
iiclr-27370	460	27	risks	risk	NOUN
iiclr-27370	460	28	that	that	PRON
iiclr-27370	460	29	have	have	AUX
iiclr-27370	460	30	come	come	VERB
iiclr-27370	460	31	to	to	PART
iiclr-27370	460	32	be	be	AUX
iiclr-27370	460	33	associated	associate	VERB
iiclr-27370	460	34	with	with	ADP
iiclr-27370	460	35	cryptocurrency	cryptocurrency	NOUN
iiclr-27370	460	36	.	.	PUNCT
iiclr-27370	461	1	b.	b.	PROPN
iiclr-27370	462	1	the	the	DET
iiclr-27370	462	2	securities	securities	PROPN
iiclr-27370	462	3	and	and	CCONJ
iiclr-27370	462	4	futures	future	NOUN
iiclr-27370	462	5	act	act	PROPN
iiclr-27370	462	6	:	:	PUNCT
iiclr-27370	462	7	offering	offer	VERB
iiclr-27370	462	8	protections	protection	NOUN
iiclr-27370	462	9	against	against	ADP
iiclr-27370	462	10	fraudulent	fraudulent	ADJ
iiclr-27370	462	11	initial	initial	ADJ
iiclr-27370	462	12	coin	coin	NOUN
iiclr-27370	462	13	offerings	offering	NOUN
iiclr-27370	462	14	the	the	DET
iiclr-27370	462	15	sfa	sfa	PROPN
iiclr-27370	462	16	governs	govern	VERB
iiclr-27370	462	17	capital	capital	NOUN
iiclr-27370	462	18	market	market	NOUN
iiclr-27370	462	19	products	product	NOUN
iiclr-27370	462	20	,	,	PUNCT
iiclr-27370	462	21	defined	define	VERB
iiclr-27370	462	22	therein	therein	ADV
iiclr-27370	462	23	as	as	ADP
iiclr-27370	462	24	securities	security	NOUN
iiclr-27370	462	25	,	,	PUNCT
iiclr-27370	462	26	units	unit	NOUN
iiclr-27370	462	27	in	in	ADP
iiclr-27370	462	28	a	a	DET
iiclr-27370	462	29	collective	collective	ADJ
iiclr-27370	462	30	investment	investment	NOUN
iiclr-27370	462	31	scheme	scheme	NOUN
iiclr-27370	462	32	,	,	PUNCT
iiclr-27370	462	33	derivatives	derivative	NOUN
iiclr-27370	462	34	contracts	contract	NOUN
iiclr-27370	462	35	,	,	PUNCT
iiclr-27370	462	36	or	or	CCONJ
iiclr-27370	462	37	exchange	exchange	NOUN
iiclr-27370	462	38	contracts	contract	NOUN
iiclr-27370	462	39	executed	execute	VERB
iiclr-27370	462	40	for	for	ADP
iiclr-27370	462	41	purposes	purpose	NOUN
iiclr-27370	462	42	of	of	ADP
iiclr-27370	462	43	leveraged	leverage	VERB
iiclr-27370	462	44	foreign	foreign	ADJ
iiclr-27370	462	45	exchange	exchange	NOUN
iiclr-27370	462	46	trading.202	trading.202	PROPN
iiclr-27370	462	47	the	the	DET
iiclr-27370	462	48	mas	mas	PROPN
iiclr-27370	462	49	had	have	AUX
iiclr-27370	462	50	rendered	render	VERB
iiclr-27370	462	51	the	the	DET
iiclr-27370	462	52	sfa	sfa	NOUN
iiclr-27370	462	53	applicable	applicable	ADJ
iiclr-27370	462	54	to	to	ADP
iiclr-27370	462	55	cryptocurrencies	cryptocurrencie	NOUN
iiclr-27370	462	56	that	that	PRON
iiclr-27370	462	57	are	be	AUX
iiclr-27370	462	58	classified	classify	VERB
iiclr-27370	462	59	as	as	ADP
iiclr-27370	462	60	securities	security	NOUN
iiclr-27370	462	61	or	or	CCONJ
iiclr-27370	462	62	,	,	PUNCT
iiclr-27370	462	63	in	in	ADP
iiclr-27370	462	64	layman	layman	PROPN
iiclr-27370	462	65	’s	’s	PART
iiclr-27370	462	66	terms	term	NOUN
iiclr-27370	462	67	,	,	PUNCT
iiclr-27370	462	68	cryptocurrencies	cryptocurrencie	NOUN
iiclr-27370	462	69	that	that	PRON
iiclr-27370	462	70	are	be	AUX
iiclr-27370	462	71	offered	offer	VERB
iiclr-27370	462	72	for	for	ADP
iiclr-27370	462	73	the	the	DET
iiclr-27370	462	74	purpose	purpose	NOUN
iiclr-27370	462	75	of	of	ADP
iiclr-27370	462	76	economic	economic	ADJ
iiclr-27370	462	77	benefit.203	benefit.203	NOUN
iiclr-27370	462	78	the	the	DET
iiclr-27370	462	79	mas	mas	PROPN
iiclr-27370	462	80	frequently	frequently	ADV
iiclr-27370	462	81	applies	apply	VERB
iiclr-27370	462	82	the	the	DET
iiclr-27370	462	83	sfa	sfa	NOUN
iiclr-27370	462	84	in	in	ADP
iiclr-27370	462	85	the	the	DET
iiclr-27370	462	86	context	context	NOUN
iiclr-27370	462	87	of	of	ADP
iiclr-27370	462	88	icos.204	icos.204	NOUN
iiclr-27370	462	89	in	in	ADP
iiclr-27370	462	90	determining	determine	VERB
iiclr-27370	462	91	whether	whether	SCONJ
iiclr-27370	462	92	an	an	DET
iiclr-27370	462	93	ico	ico	PROPN
iiclr-27370	462	94	is	be	AUX
iiclr-27370	462	95	a	a	DET
iiclr-27370	462	96	securities	security	NOUN
iiclr-27370	462	97	offering	offering	NOUN
iiclr-27370	462	98	,	,	PUNCT
iiclr-27370	462	99	the	the	DET
iiclr-27370	462	100	mas	mas	PROPN
iiclr-27370	462	101	considers	consider	VERB
iiclr-27370	462	102	whether	whether	SCONJ
iiclr-27370	462	103	(	(	PUNCT
iiclr-27370	462	104	1	1	X
iiclr-27370	462	105	)	)	PUNCT
iiclr-27370	462	106	the	the	DET
iiclr-27370	462	107	coins	coin	NOUN
iiclr-27370	462	108	were	be	AUX
iiclr-27370	462	109	purchased	purchase	VERB
iiclr-27370	462	110	and	and	CCONJ
iiclr-27370	462	111	received	receive	VERB
iiclr-27370	462	112	on	on	ADP
iiclr-27370	462	113	or	or	CCONJ
iiclr-27370	462	114	around	around	ADP
iiclr-27370	462	115	the	the	DET
iiclr-27370	462	116	date	date	NOUN
iiclr-27370	462	117	of	of	ADP
iiclr-27370	462	118	the	the	DET
iiclr-27370	462	119	ico	ico	PROPN
iiclr-27370	462	120	,	,	PUNCT
iiclr-27370	462	121	as	as	SCONJ
iiclr-27370	462	122	opposed	oppose	VERB
iiclr-27370	462	123	to	to	ADP
iiclr-27370	462	124	being	be	AUX
iiclr-27370	462	125	receivable	receivable	ADJ
iiclr-27370	462	126	at	at	ADP
iiclr-27370	462	127	specified	specify	VERB
iiclr-27370	462	128	future	future	ADJ
iiclr-27370	462	129	dates	date	NOUN
iiclr-27370	462	130	;	;	PUNCT
iiclr-27370	462	131	(	(	PUNCT
iiclr-27370	462	132	2	2	X
iiclr-27370	462	133	)	)	PUNCT
iiclr-27370	462	134	discrepancies	discrepancy	NOUN
iiclr-27370	462	135	are	be	AUX
iiclr-27370	462	136	found	find	VERB
iiclr-27370	462	137	between	between	ADP
iiclr-27370	462	138	the	the	DET
iiclr-27370	462	139	issuer	issuer	NOUN
iiclr-27370	462	140	and	and	CCONJ
iiclr-27370	462	141	buyer	buyer	NOUN
iiclr-27370	462	142	in	in	ADP
iiclr-27370	462	143	regards	regard	NOUN
iiclr-27370	462	144	to	to	ADP
iiclr-27370	462	145	the	the	DET
iiclr-27370	462	146	values	value	NOUN
iiclr-27370	462	147	of	of	ADP
iiclr-27370	462	148	coins	coin	NOUN
iiclr-27370	462	149	at	at	ADP
iiclr-27370	462	150	different	different	ADJ
iiclr-27370	462	151	times	time	NOUN
iiclr-27370	462	152	;	;	PUNCT
iiclr-27370	462	153	(	(	PUNCT
iiclr-27370	462	154	3	3	X
iiclr-27370	462	155	)	)	PUNCT
iiclr-27370	462	156	the	the	DET
iiclr-27370	462	157	possible	possible	ADJ
iiclr-27370	462	158	profits	profit	NOUN
iiclr-27370	462	159	or	or	CCONJ
iiclr-27370	462	160	losses	loss	NOUN
iiclr-27370	462	161	that	that	PRON
iiclr-27370	462	162	ico	ico	PROPN
iiclr-27370	462	163	investors	investor	NOUN
iiclr-27370	462	164	realize	realize	VERB
iiclr-27370	462	165	financially	financially	ADV
iiclr-27370	462	166	affect	affect	VERB
iiclr-27370	462	167	the	the	DET
iiclr-27370	462	168	coin	coin	NOUN
iiclr-27370	462	169	issuer	issuer	NOUN
iiclr-27370	462	170	;	;	PUNCT
iiclr-27370	462	171	and	and	CCONJ
iiclr-27370	462	172	(	(	PUNCT
iiclr-27370	462	173	4	4	X
iiclr-27370	462	174	)	)	PUNCT
iiclr-27370	462	175	coins	coin	NOUN
iiclr-27370	462	176	are	be	AUX
iiclr-27370	462	177	a	a	DET
iiclr-27370	462	178	stake	stake	NOUN
iiclr-27370	462	179	against	against	ADP
iiclr-27370	462	180	the	the	DET
iiclr-27370	462	181	issuer	issuer	NOUN
iiclr-27370	462	182	that	that	PRON
iiclr-27370	462	183	might	might	AUX
iiclr-27370	462	184	be	be	AUX
iiclr-27370	462	185	collected	collect	VERB
iiclr-27370	462	186	at	at	ADP
iiclr-27370	462	187	a	a	DET
iiclr-27370	462	188	future	future	NOUN
iiclr-27370	462	189	date.205	date.205	NOUN
iiclr-27370	462	190	if	if	SCONJ
iiclr-27370	462	191	these	these	DET
iiclr-27370	462	192	considerations	consideration	NOUN
iiclr-27370	462	193	indicate	indicate	VERB
iiclr-27370	462	194	that	that	SCONJ
iiclr-27370	462	195	an	an	DET
iiclr-27370	462	196	ico	ico	PROPN
iiclr-27370	462	197	is	be	AUX
iiclr-27370	462	198	a	a	DET
iiclr-27370	462	199	securities	security	NOUN
iiclr-27370	462	200	offering	offering	NOUN
iiclr-27370	462	201	,	,	PUNCT
iiclr-27370	462	202	the	the	DET
iiclr-27370	462	203	mas	mas	PROPN
iiclr-27370	462	204	can	can	AUX
iiclr-27370	462	205	exercise	exercise	VERB
iiclr-27370	462	206	its	its	PRON
iiclr-27370	462	207	powers	power	NOUN
iiclr-27370	462	208	under	under	ADP
iiclr-27370	462	209	the	the	DET
iiclr-27370	462	210	sfa	sfa	NOUN
iiclr-27370	462	211	to	to	PART
iiclr-27370	462	212	regulate	regulate	VERB
iiclr-27370	462	213	it.206	it.206	ADP
iiclr-27370	462	214	in	in	ADP
iiclr-27370	462	215	may	may	PROPN
iiclr-27370	462	216	2020	2020	NUM
iiclr-27370	462	217	,	,	PUNCT
iiclr-27370	462	218	the	the	DET
iiclr-27370	462	219	mas	mas	PROPN
iiclr-27370	462	220	released	release	VERB
iiclr-27370	462	221	the	the	DET
iiclr-27370	462	222	“	"	PUNCT
iiclr-27370	462	223	guide	guide	NOUN
iiclr-27370	462	224	to	to	ADP
iiclr-27370	462	225	digital	digital	ADJ
iiclr-27370	462	226	token	token	VERB
iiclr-27370	462	227	offerings	offering	NOUN
iiclr-27370	462	228	”	"	PUNCT
iiclr-27370	462	229	(	(	PUNCT
iiclr-27370	462	230	gdto	gdto	PROPN
iiclr-27370	462	231	)	)	PUNCT
iiclr-27370	462	232	to	to	PART
iiclr-27370	462	233	illustrate	illustrate	VERB
iiclr-27370	462	234	the	the	DET
iiclr-27370	462	235	applicability	applicability	NOUN
iiclr-27370	462	236	of	of	ADP
iiclr-27370	462	237	the	the	DET
iiclr-27370	462	238	sfa	sfa	PROPN
iiclr-27370	462	239	to	to	ADP
iiclr-27370	462	240	initial	initial	ADJ
iiclr-27370	462	241	coin	coin	NOUN
iiclr-27370	462	242	offerings.207	offerings.207	NOUN
iiclr-27370	462	243	this	this	DET
iiclr-27370	462	244	release	release	NOUN
iiclr-27370	462	245	states	state	NOUN
iiclr-27370	462	246	that	that	PRON
iiclr-27370	462	247	offers	offer	VERB
iiclr-27370	462	248	of	of	ADP
iiclr-27370	462	249	digital	digital	ADJ
iiclr-27370	462	250	tokens	token	NOUN
iiclr-27370	462	251	to	to	ADP
iiclr-27370	462	252	the	the	DET
iiclr-27370	462	253	public	public	NOUN
iiclr-27370	462	254	are	be	AUX
iiclr-27370	462	255	to	to	PART
iiclr-27370	462	256	be	be	AUX
iiclr-27370	462	257	regulated	regulate	VERB
iiclr-27370	462	258	by	by	ADP
iiclr-27370	462	259	the	the	DET
iiclr-27370	462	260	mas	mas	PROPN
iiclr-27370	462	261	,	,	PUNCT
iiclr-27370	462	262	and	and	CCONJ
iiclr-27370	462	263	under	under	ADP
iiclr-27370	462	264	the	the	DET
iiclr-27370	462	265	sfa	sfa	NOUN
iiclr-27370	462	266	,	,	PUNCT
iiclr-27370	462	267	if	if	SCONJ
iiclr-27370	462	268	the	the	DET
iiclr-27370	462	269	digital	digital	ADJ
iiclr-27370	462	270	tokens	token	NOUN
iiclr-27370	462	271	are	be	AUX
iiclr-27370	462	272	classified	classify	VERB
iiclr-27370	462	273	as	as	ADP
iiclr-27370	462	274	“	"	PUNCT
iiclr-27370	462	275	capital	capital	NOUN
iiclr-27370	462	276	market	market	NOUN
iiclr-27370	462	277	products	product	NOUN
iiclr-27370	462	278	.	.	PUNCT
iiclr-27370	463	1	”208	”208	VERB
iiclr-27370	464	1	according	accord	VERB
iiclr-27370	464	2	to	to	ADP
iiclr-27370	464	3	the	the	DET
iiclr-27370	464	4	gdto	gdto	PROPN
iiclr-27370	464	5	,	,	PUNCT
iiclr-27370	464	6	“	"	PUNCT
iiclr-27370	464	7	(	(	PUNCT
iiclr-27370	464	8	c)apital	c)apital	ADJ
iiclr-27370	464	9	market	market	NOUN
iiclr-27370	464	10	products	product	NOUN
iiclr-27370	464	11	include	include	VERB
iiclr-27370	464	12	securities	security	NOUN
iiclr-27370	464	13	,	,	PUNCT
iiclr-27370	464	14	units	unit	NOUN
iiclr-27370	464	15	in	in	ADP
iiclr-27370	464	16	a	a	DET
iiclr-27370	464	17	collective	collective	ADJ
iiclr-27370	464	18	scheme	scheme	NOUN
iiclr-27370	464	19	,	,	PUNCT
iiclr-27370	464	20	derivatives	derivative	NOUN
iiclr-27370	464	21	contracts	contract	NOUN
iiclr-27370	464	22	,	,	PUNCT
iiclr-27370	464	23	and	and	CCONJ
iiclr-27370	464	24	foreign	foreign	ADJ
iiclr-27370	464	25	exchange	exchange	NOUN
iiclr-27370	464	26	contracts	contract	NOUN
iiclr-27370	464	27	for	for	ADP
iiclr-27370	464	28	the	the	DET
iiclr-27370	464	29	purposes	purpose	NOUN
iiclr-27370	464	30	of	of	ADP
iiclr-27370	464	31	leveraged	leveraged	ADJ
iiclr-27370	464	32	foreign	foreign	ADJ
iiclr-27370	464	33	exchange	exchange	NOUN
iiclr-27370	464	34	trading	trading	NOUN
iiclr-27370	464	35	.	.	PUNCT
iiclr-27370	465	1	”209	”209	PUNCT
iiclr-27370	465	2	the	the	DET
iiclr-27370	465	3	sfa	sfa	PROPN
iiclr-27370	465	4	requires	require	VERB
iiclr-27370	465	5	these	these	DET
iiclr-27370	465	6	“	"	PUNCT
iiclr-27370	465	7	capital	capital	NOUN
iiclr-27370	465	8	market	market	NOUN
iiclr-27370	465	9	product	product	NOUN
iiclr-27370	465	10	”	"	PUNCT
iiclr-27370	465	11	digital	digital	ADJ
iiclr-27370	465	12	tokens	token	NOUN
iiclr-27370	465	13	that	that	PRON
iiclr-27370	465	14	fall	fall	VERB
iiclr-27370	465	15	under	under	ADP
iiclr-27370	465	16	its	its	PRON
iiclr-27370	465	17	regulatory	regulatory	ADJ
iiclr-27370	465	18	scope	scope	NOUN
iiclr-27370	465	19	be	be	AUX
iiclr-27370	465	20	accompanied	accompany	VERB
iiclr-27370	465	21	by	by	ADP
iiclr-27370	465	22	a	a	DET
iiclr-27370	465	23	prospectus	prospectus	NOUN
iiclr-27370	465	24	lodged	lodge	VERB
iiclr-27370	465	25	and	and	CCONJ
iiclr-27370	465	26	registered	register	VERB
iiclr-27370	465	27	with	with	ADP
iiclr-27370	465	28	the	the	DET
iiclr-27370	465	29	mas.210	mas.210	NOUN
iiclr-27370	465	30	a	a	DET
iiclr-27370	465	31	prospectus	prospectus	NOUN
iiclr-27370	465	32	is	be	AUX
iiclr-27370	465	33	essentially	essentially	ADV
iiclr-27370	465	34	a	a	DET
iiclr-27370	465	35	long	long	ADJ
iiclr-27370	465	36	document	document	NOUN
iiclr-27370	465	37	that	that	PRON
iiclr-27370	465	38	includes	include	VERB
iiclr-27370	465	39	“	"	PUNCT
iiclr-27370	465	40	any	any	DET
iiclr-27370	465	41	notice	notice	NOUN
iiclr-27370	465	42	,	,	PUNCT
iiclr-27370	465	43	circular	circular	ADJ
iiclr-27370	465	44	,	,	PUNCT
iiclr-27370	465	45	material	material	NOUN
iiclr-27370	465	46	,	,	PUNCT
iiclr-27370	465	47	advertisement	advertisement	NOUN
iiclr-27370	465	48	,	,	PUNCT
iiclr-27370	465	49	publication	publication	NOUN
iiclr-27370	465	50	,	,	PUNCT
iiclr-27370	465	51	or	or	CCONJ
iiclr-27370	465	52	other	other	ADJ
iiclr-27370	465	53	document	document	NOUN
iiclr-27370	465	54	used	use	VERB
iiclr-27370	465	55	to	to	ADP
iiclr-27370	465	56	202	202	NUM
iiclr-27370	465	57	.	.	PUNCT
iiclr-27370	466	1	§	§	PROPN
iiclr-27370	466	2	2(1)(f	2(1)(f	PROPN
iiclr-27370	466	3	)	)	PUNCT
iiclr-27370	466	4	,	,	PUNCT
iiclr-27370	466	5	securities	security	NOUN
iiclr-27370	466	6	and	and	CCONJ
iiclr-27370	466	7	futures	future	NOUN
iiclr-27370	466	8	act	act	NOUN
iiclr-27370	466	9	of	of	ADP
iiclr-27370	466	10	2001	2001	NUM
iiclr-27370	466	11	(	(	PUNCT
iiclr-27370	466	12	sing	se	VERB
iiclr-27370	466	13	.	.	PUNCT
iiclr-27370	466	14	)	)	PUNCT
iiclr-27370	467	1	[	[	X
iiclr-27370	467	2	hereinafter	hereinafter	NOUN
iiclr-27370	467	3	sfa	sfa	PROPN
iiclr-27370	467	4	]	]	PUNCT
iiclr-27370	467	5	.	.	PUNCT
iiclr-27370	467	6	203	203	NUM
iiclr-27370	467	7	.	.	PUNCT
iiclr-27370	467	8	song	song	NOUN
iiclr-27370	467	9	,	,	PUNCT
iiclr-27370	467	10	supra	supra	PROPN
iiclr-27370	467	11	note	note	PROPN
iiclr-27370	467	12	53	53	NUM
iiclr-27370	467	13	,	,	PUNCT
iiclr-27370	467	14	at	at	ADP
iiclr-27370	467	15	15	15	NUM
iiclr-27370	467	16	-	-	SYM
iiclr-27370	467	17	16	16	NUM
iiclr-27370	467	18	.	.	PUNCT
iiclr-27370	468	1	204	204	NUM
iiclr-27370	468	2	.	.	PUNCT
iiclr-27370	469	1	see	see	VERB
iiclr-27370	469	2	ikigai	ikigai	PROPN
iiclr-27370	469	3	l.	l.	PROPN
iiclr-27370	469	4	,	,	PUNCT
iiclr-27370	469	5	supra	supra	PROPN
iiclr-27370	469	6	note	note	PROPN
iiclr-27370	469	7	172	172	NUM
iiclr-27370	469	8	.	.	NOUN
iiclr-27370	469	9	205	205	NUM
iiclr-27370	469	10	.	.	PUNCT
iiclr-27370	470	1	singapore	singapore	PROPN
iiclr-27370	470	2	cryptocurrency	cryptocurrency	NOUN
iiclr-27370	470	3	regulations	regulation	NOUN
iiclr-27370	470	4	,	,	PUNCT
iiclr-27370	470	5	coinfirm	coinfirm	NOUN
iiclr-27370	470	6	,	,	PUNCT
iiclr-27370	470	7	(	(	PUNCT
iiclr-27370	470	8	jan	jan	PROPN
iiclr-27370	470	9	.	.	PROPN
iiclr-27370	470	10	14	14	NUM
iiclr-27370	470	11	,	,	PUNCT
iiclr-27370	470	12	2021	2021	NUM
iiclr-27370	470	13	)	)	PUNCT
iiclr-27370	470	14	https://www.coinfirm	https://www.coinfirm	NOUN
iiclr-27370	470	15	.	.	PUNCT
iiclr-27370	470	16	com	com	NOUN
iiclr-27370	470	17	/	/	SYM
iiclr-27370	470	18	blog	blog	PROPN
iiclr-27370	470	19	/	/	SYM
iiclr-27370	470	20	singapore	singapore	NOUN
iiclr-27370	470	21	-	-	PUNCT
iiclr-27370	470	22	cryptocurrency	cryptocurrency	NOUN
iiclr-27370	470	23	-	-	PUNCT
iiclr-27370	470	24	regulations/	regulations/	NOUN
iiclr-27370	470	25	[	[	X
iiclr-27370	470	26	https://perma.cc/jtk3-yvvg	https://perma.cc/jtk3-yvvg	NUM
iiclr-27370	470	27	]	]	PUNCT
iiclr-27370	470	28	.	.	PUNCT
iiclr-27370	471	1	206	206	NUM
iiclr-27370	471	2	.	.	PUNCT
iiclr-27370	472	1	see	see	VERB
iiclr-27370	472	2	i	i	PRON
iiclr-27370	472	3	d.	d.	PROPN
iiclr-27370	472	4	207	207	NUM
iiclr-27370	472	5	.	.	PUNCT
iiclr-27370	473	1	see	see	VERB
iiclr-27370	473	2	generally	generally	ADV
iiclr-27370	473	3	monetary	monetary	ADJ
iiclr-27370	473	4	auth	auth	NOUN
iiclr-27370	473	5	.	.	PUNCT
iiclr-27370	474	1	of	of	ADP
iiclr-27370	474	2	sing	se	VERB
iiclr-27370	474	3	.	.	PUNCT
iiclr-27370	474	4	,	,	PUNCT
iiclr-27370	474	5	a	a	DET
iiclr-27370	474	6	guide	guide	NOUN
iiclr-27370	474	7	to	to	ADP
iiclr-27370	474	8	digital	digital	ADJ
iiclr-27370	474	9	token	token	VERB
iiclr-27370	474	10	offerings	offering	NOUN
iiclr-27370	474	11	[	[	X
iiclr-27370	474	12	hereinafter	hereinafter	NOUN
iiclr-27370	474	13	gdto	gdto	PROPN
iiclr-27370	474	14	]	]	PUNCT
iiclr-27370	474	15	.	.	PUNCT
iiclr-27370	475	1	208	208	NUM
iiclr-27370	475	2	.	.	PUNCT
iiclr-27370	476	1	i	i	PRON
iiclr-27370	476	2	d.	d.	PROPN
iiclr-27370	476	3	at	at	ADP
iiclr-27370	476	4	2	2	NUM
iiclr-27370	476	5	.	.	PUNCT
iiclr-27370	476	6	209	209	NUM
iiclr-27370	476	7	.	.	PUNCT
iiclr-27370	477	1	i	i	PRON
iiclr-27370	477	2	d.	d.	PROPN
iiclr-27370	477	3	210	210	NUM
iiclr-27370	477	4	.	.	PUNCT
iiclr-27370	478	1	sfa	sfa	PROPN
iiclr-27370	478	2	,	,	PUNCT
iiclr-27370	478	3	supra	supra	PROPN
iiclr-27370	478	4	note	note	NOUN
iiclr-27370	478	5	202	202	NUM
iiclr-27370	478	6	,	,	PUNCT
iiclr-27370	478	7	at	at	ADP
iiclr-27370	478	8	734	734	NUM
iiclr-27370	478	9	-	-	SYM
iiclr-27370	478	10	35	35	NUM
iiclr-27370	478	11	.	.	PUNCT
iiclr-27370	478	12	2023	2023	NUM
iiclr-27370	478	13	]	]	PUNCT
iiclr-27370	478	14	the	the	DET
iiclr-27370	478	15	wild	wild	ADJ
iiclr-27370	478	16	west	west	NOUN
iiclr-27370	478	17	,	,	PUNCT
iiclr-27370	478	18	cryptocurrency	cryptocurrency	NOUN
iiclr-27370	478	19	,	,	PUNCT
iiclr-27370	478	20	and	and	CCONJ
iiclr-27370	478	21	singapore	singapore	PROPN
iiclr-27370	478	22	215	215	NUM
iiclr-27370	478	23	make	make	VERB
iiclr-27370	478	24	an	an	DET
iiclr-27370	478	25	offer	offer	NOUN
iiclr-27370	478	26	of	of	ADP
iiclr-27370	478	27	securities	security	NOUN
iiclr-27370	478	28	.	.	PUNCT
iiclr-27370	478	29	”211	”211	PUNCT
iiclr-27370	479	1	the	the	DET
iiclr-27370	479	2	mas	mas	PROPN
iiclr-27370	479	3	retains	retain	VERB
iiclr-27370	479	4	the	the	DET
iiclr-27370	479	5	authority	authority	NOUN
iiclr-27370	479	6	to	to	PART
iiclr-27370	479	7	refuse	refuse	VERB
iiclr-27370	479	8	to	to	PART
iiclr-27370	479	9	register	register	VERB
iiclr-27370	479	10	a	a	DET
iiclr-27370	479	11	prospectus	prospectus	NOUN
iiclr-27370	479	12	and	and	CCONJ
iiclr-27370	479	13	is	be	AUX
iiclr-27370	479	14	required	require	VERB
iiclr-27370	479	15	to	to	PART
iiclr-27370	479	16	exercise	exercise	VERB
iiclr-27370	479	17	this	this	DET
iiclr-27370	479	18	authority	authority	NOUN
iiclr-27370	479	19	of	of	ADP
iiclr-27370	479	20	refusal	refusal	NOUN
iiclr-27370	479	21	in	in	ADP
iiclr-27370	479	22	a	a	DET
iiclr-27370	479	23	variety	variety	NOUN
iiclr-27370	479	24	of	of	ADP
iiclr-27370	479	25	situations.212	situations.212	PROPN
iiclr-27370	479	26	the	the	DET
iiclr-27370	479	27	sfa	sfa	NOUN
iiclr-27370	479	28	will	will	AUX
iiclr-27370	479	29	refuse	refuse	VERB
iiclr-27370	479	30	to	to	PART
iiclr-27370	479	31	register	register	VERB
iiclr-27370	479	32	a	a	DET
iiclr-27370	479	33	prospectus	prospectus	NOUN
iiclr-27370	479	34	if	if	SCONJ
iiclr-27370	479	35	it	it	PRON
iiclr-27370	479	36	finds	find	VERB
iiclr-27370	479	37	that	that	SCONJ
iiclr-27370	479	38	the	the	DET
iiclr-27370	479	39	prospectus	prospectus	NOUN
iiclr-27370	479	40	contains	contain	VERB
iiclr-27370	479	41	false	false	ADJ
iiclr-27370	479	42	or	or	CCONJ
iiclr-27370	479	43	misleading	misleading	ADJ
iiclr-27370	479	44	information	information	NOUN
iiclr-27370	479	45	,	,	PUNCT
iiclr-27370	479	46	that	that	SCONJ
iiclr-27370	479	47	there	there	PRON
iiclr-27370	479	48	is	be	VERB
iiclr-27370	479	49	an	an	DET
iiclr-27370	479	50	omission	omission	NOUN
iiclr-27370	479	51	from	from	ADP
iiclr-27370	479	52	the	the	DET
iiclr-27370	479	53	prospectus	prospectus	NOUN
iiclr-27370	479	54	,	,	PUNCT
iiclr-27370	479	55	that	that	SCONJ
iiclr-27370	479	56	the	the	DET
iiclr-27370	479	57	copy	copy	NOUN
iiclr-27370	479	58	of	of	ADP
iiclr-27370	479	59	the	the	DET
iiclr-27370	479	60	prospectus	prospectus	NOUN
iiclr-27370	479	61	that	that	PRON
iiclr-27370	479	62	is	be	AUX
iiclr-27370	479	63	lodged	lodge	VERB
iiclr-27370	479	64	with	with	ADP
iiclr-27370	479	65	the	the	DET
iiclr-27370	479	66	mas	mas	PROPN
iiclr-27370	479	67	is	be	AUX
iiclr-27370	479	68	not	not	PART
iiclr-27370	479	69	properly	properly	ADV
iiclr-27370	479	70	signed	sign	VERB
iiclr-27370	479	71	according	accord	VERB
iiclr-27370	479	72	to	to	ADP
iiclr-27370	479	73	other	other	ADJ
iiclr-27370	479	74	requirements	requirement	NOUN
iiclr-27370	479	75	,	,	PUNCT
iiclr-27370	479	76	that	that	SCONJ
iiclr-27370	479	77	the	the	DET
iiclr-27370	479	78	prospectus	prospectus	NOUN
iiclr-27370	479	79	does	do	AUX
iiclr-27370	479	80	not	not	PART
iiclr-27370	479	81	comply	comply	VERB
iiclr-27370	479	82	with	with	ADP
iiclr-27370	479	83	application	application	NOUN
iiclr-27370	479	84	requirements	requirement	NOUN
iiclr-27370	479	85	of	of	ADP
iiclr-27370	479	86	the	the	DET
iiclr-27370	479	87	sfa	sfa	PROPN
iiclr-27370	479	88	,	,	PUNCT
iiclr-27370	479	89	that	that	SCONJ
iiclr-27370	479	90	the	the	DET
iiclr-27370	479	91	written	write	VERB
iiclr-27370	479	92	consent	consent	NOUN
iiclr-27370	479	93	of	of	ADP
iiclr-27370	479	94	any	any	DET
iiclr-27370	479	95	necessary	necessary	ADJ
iiclr-27370	479	96	expert	expert	NOUN
iiclr-27370	479	97	,	,	PUNCT
iiclr-27370	479	98	issue	issue	NOUN
iiclr-27370	479	99	manager	manager	NOUN
iiclr-27370	479	100	,	,	PUNCT
iiclr-27370	479	101	or	or	CCONJ
iiclr-27370	479	102	underwriter	underwriter	NOUN
iiclr-27370	479	103	is	be	AUX
iiclr-27370	479	104	not	not	PART
iiclr-27370	479	105	properly	properly	ADV
iiclr-27370	479	106	lodged	lodge	VERB
iiclr-27370	479	107	with	with	ADP
iiclr-27370	479	108	the	the	DET
iiclr-27370	479	109	mas	mas	PROPN
iiclr-27370	479	110	,	,	PUNCT
iiclr-27370	479	111	or	or	CCONJ
iiclr-27370	479	112	simply	simply	ADV
iiclr-27370	479	113	that	that	SCONJ
iiclr-27370	479	114	it	it	PRON
iiclr-27370	479	115	is	be	AUX
iiclr-27370	479	116	not	not	PART
iiclr-27370	479	117	in	in	ADP
iiclr-27370	479	118	the	the	DET
iiclr-27370	479	119	public	public	ADJ
iiclr-27370	479	120	interest	interest	NOUN
iiclr-27370	479	121	to	to	PART
iiclr-27370	479	122	register	register	VERB
iiclr-27370	479	123	the	the	DET
iiclr-27370	479	124	prospectus.213	prospectus.213	NOUN
iiclr-27370	479	125	further	far	ADV
iiclr-27370	479	126	,	,	PUNCT
iiclr-27370	479	127	only	only	ADV
iiclr-27370	479	128	approved	approve	VERB
iiclr-27370	479	129	exchanges	exchange	NOUN
iiclr-27370	479	130	or	or	CCONJ
iiclr-27370	479	131	recognized	recognize	VERB
iiclr-27370	479	132	market	market	NOUN
iiclr-27370	479	133	operators	operator	NOUN
iiclr-27370	479	134	can	can	AUX
iiclr-27370	479	135	establish	establish	VERB
iiclr-27370	479	136	or	or	CCONJ
iiclr-27370	479	137	operate	operate	VERB
iiclr-27370	479	138	a	a	DET
iiclr-27370	479	139	cryptocurrency	cryptocurrency	NOUN
iiclr-27370	479	140	market	market	NOUN
iiclr-27370	479	141	in	in	ADP
iiclr-27370	479	142	singapore.214	singapore.214	ADJ
iiclr-27370	479	143	in	in	ADP
iiclr-27370	479	144	order	order	NOUN
iiclr-27370	479	145	for	for	SCONJ
iiclr-27370	479	146	an	an	DET
iiclr-27370	479	147	exchange	exchange	NOUN
iiclr-27370	479	148	to	to	PART
iiclr-27370	479	149	become	become	VERB
iiclr-27370	479	150	an	an	DET
iiclr-27370	479	151	approved	approve	VERB
iiclr-27370	479	152	exchange	exchange	NOUN
iiclr-27370	479	153	under	under	ADP
iiclr-27370	479	154	the	the	DET
iiclr-27370	479	155	sfa	sfa	NOUN
iiclr-27370	479	156	,	,	PUNCT
iiclr-27370	479	157	it	it	PRON
iiclr-27370	479	158	must	must	AUX
iiclr-27370	479	159	obtain	obtain	VERB
iiclr-27370	479	160	a	a	DET
iiclr-27370	479	161	capital	capital	NOUN
iiclr-27370	479	162	market	market	NOUN
iiclr-27370	479	163	services	service	NOUN
iiclr-27370	479	164	license.215	license.215	VERB
iiclr-27370	479	165	in	in	ADP
iiclr-27370	479	166	order	order	NOUN
iiclr-27370	479	167	to	to	PART
iiclr-27370	479	168	qualify	qualify	VERB
iiclr-27370	479	169	for	for	ADP
iiclr-27370	479	170	such	such	DET
iiclr-27370	479	171	a	a	DET
iiclr-27370	479	172	license	license	NOUN
iiclr-27370	479	173	,	,	PUNCT
iiclr-27370	479	174	a	a	DET
iiclr-27370	479	175	coin	coin	NOUN
iiclr-27370	479	176	offeror	offeror	NOUN
iiclr-27370	479	177	must	must	AUX
iiclr-27370	479	178	meet	meet	VERB
iiclr-27370	479	179	minimum	minimum	ADJ
iiclr-27370	479	180	financial	financial	ADJ
iiclr-27370	479	181	requirements	requirement	NOUN
iiclr-27370	479	182	,	,	PUNCT
iiclr-27370	479	183	in	in	ADP
iiclr-27370	479	184	addition	addition	NOUN
iiclr-27370	479	185	to	to	ADP
iiclr-27370	479	186	any	any	DET
iiclr-27370	479	187	other	other	ADJ
iiclr-27370	479	188	requirements	requirement	NOUN
iiclr-27370	479	189	prescribed	prescribe	VERB
iiclr-27370	479	190	by	by	ADP
iiclr-27370	479	191	the	the	DET
iiclr-27370	479	192	mas.216	mas.216	NOUN
iiclr-27370	479	193	the	the	DET
iiclr-27370	479	194	mas	mas	PROPN
iiclr-27370	479	195	may	may	AUX
iiclr-27370	479	196	refuse	refuse	VERB
iiclr-27370	479	197	to	to	PART
iiclr-27370	479	198	grant	grant	VERB
iiclr-27370	479	199	a	a	DET
iiclr-27370	479	200	capital	capital	NOUN
iiclr-27370	479	201	market	market	NOUN
iiclr-27370	479	202	services	service	NOUN
iiclr-27370	479	203	license	license	VERB
iiclr-27370	479	204	if	if	SCONJ
iiclr-27370	479	205	it	it	PRON
iiclr-27370	479	206	reaches	reach	VERB
iiclr-27370	479	207	any	any	DET
iiclr-27370	479	208	finding	finding	NOUN
iiclr-27370	479	209	that	that	PRON
iiclr-27370	479	210	would	would	AUX
iiclr-27370	479	211	justify	justify	VERB
iiclr-27370	479	212	denying	deny	VERB
iiclr-27370	479	213	the	the	DET
iiclr-27370	479	214	application.217	application.217	NOUN
iiclr-27370	479	215	among	among	ADP
iiclr-27370	479	216	the	the	DET
iiclr-27370	479	217	many	many	ADJ
iiclr-27370	479	218	potential	potential	ADJ
iiclr-27370	479	219	reasons	reason	NOUN
iiclr-27370	479	220	that	that	PRON
iiclr-27370	479	221	the	the	DET
iiclr-27370	479	222	mas	mas	PROPN
iiclr-27370	479	223	may	may	AUX
iiclr-27370	479	224	refuse	refuse	VERB
iiclr-27370	479	225	to	to	PART
iiclr-27370	479	226	issue	issue	VERB
iiclr-27370	479	227	capital	capital	NOUN
iiclr-27370	479	228	market	market	NOUN
iiclr-27370	479	229	services	service	NOUN
iiclr-27370	479	230	license	license	NOUN
iiclr-27370	479	231	,	,	PUNCT
iiclr-27370	479	232	it	it	PRON
iiclr-27370	479	233	may	may	AUX
iiclr-27370	479	234	deny	deny	VERB
iiclr-27370	479	235	licensure	licensure	NOUN
iiclr-27370	479	236	upon	upon	SCONJ
iiclr-27370	479	237	a	a	DET
iiclr-27370	479	238	finding	finding	NOUN
iiclr-27370	479	239	that	that	SCONJ
iiclr-27370	479	240	the	the	DET
iiclr-27370	479	241	applicant	applicant	NOUN
iiclr-27370	479	242	has	have	AUX
iiclr-27370	479	243	not	not	PART
iiclr-27370	479	244	provided	provide	VERB
iiclr-27370	479	245	the	the	DET
iiclr-27370	479	246	appropriate	appropriate	ADJ
iiclr-27370	479	247	documents	document	NOUN
iiclr-27370	479	248	,	,	PUNCT
iiclr-27370	479	249	or	or	CCONJ
iiclr-27370	479	250	that	that	SCONJ
iiclr-27370	479	251	the	the	DET
iiclr-27370	479	252	documents	document	NOUN
iiclr-27370	479	253	provided	provide	VERB
iiclr-27370	479	254	by	by	ADP
iiclr-27370	479	255	the	the	DET
iiclr-27370	479	256	applicant	applicant	NOUN
iiclr-27370	479	257	contain	contain	VERB
iiclr-27370	479	258	information	information	NOUN
iiclr-27370	479	259	that	that	PRON
iiclr-27370	479	260	is	be	AUX
iiclr-27370	479	261	false	false	ADJ
iiclr-27370	479	262	or	or	CCONJ
iiclr-27370	479	263	misleading.218	misleading.218	VERB
iiclr-27370	479	264	additionally	additionally	ADV
iiclr-27370	479	265	,	,	PUNCT
iiclr-27370	479	266	the	the	DET
iiclr-27370	479	267	mas	mas	PROPN
iiclr-27370	479	268	can	can	AUX
iiclr-27370	479	269	deny	deny	VERB
iiclr-27370	479	270	licensure	licensure	NOUN
iiclr-27370	479	271	if	if	SCONJ
iiclr-27370	479	272	an	an	DET
iiclr-27370	479	273	applicant	applicant	NOUN
iiclr-27370	479	274	is	be	AUX
iiclr-27370	479	275	a	a	DET
iiclr-27370	479	276	substantial	substantial	ADJ
iiclr-27370	479	277	shareholder	shareholder	NOUN
iiclr-27370	479	278	in	in	ADP
iiclr-27370	479	279	the	the	DET
iiclr-27370	479	280	course	course	NOUN
iiclr-27370	479	281	of	of	ADP
iiclr-27370	479	282	being	be	AUX
iiclr-27370	479	283	“	"	PUNCT
iiclr-27370	479	284	wound	wound	VERB
iiclr-27370	479	285	up	up	ADP
iiclr-27370	479	286	or	or	CCONJ
iiclr-27370	479	287	otherwise	otherwise	ADV
iiclr-27370	479	288	dissolved	dissolve	VERB
iiclr-27370	479	289	,	,	PUNCT
iiclr-27370	479	290	”	"	PUNCT
iiclr-27370	479	291	is	be	AUX
iiclr-27370	479	292	a	a	DET
iiclr-27370	479	293	substantial	substantial	ADJ
iiclr-27370	479	294	shareholder	shareholder	NOUN
iiclr-27370	479	295	that	that	PRON
iiclr-27370	479	296	has	have	AUX
iiclr-27370	479	297	entered	enter	VERB
iiclr-27370	479	298	into	into	ADP
iiclr-27370	479	299	a	a	DET
iiclr-27370	479	300	scheme	scheme	NOUN
iiclr-27370	479	301	with	with	ADP
iiclr-27370	479	302	its	its	PRON
iiclr-27370	479	303	creditors	creditor	NOUN
iiclr-27370	479	304	,	,	PUNCT
iiclr-27370	479	305	or	or	CCONJ
iiclr-27370	479	306	is	be	AUX
iiclr-27370	479	307	a	a	DET
iiclr-27370	479	308	substantial	substantial	ADJ
iiclr-27370	479	309	shareholder	shareholder	NOUN
iiclr-27370	479	310	that	that	PRON
iiclr-27370	479	311	has	have	AUX
iiclr-27370	479	312	been	be	AUX
iiclr-27370	479	313	convicted	convict	VERB
iiclr-27370	479	314	of	of	ADP
iiclr-27370	479	315	an	an	DET
iiclr-27370	479	316	offense	offense	NOUN
iiclr-27370	479	317	involving	involve	VERB
iiclr-27370	479	318	fraud	fraud	NOUN
iiclr-27370	479	319	,	,	PUNCT
iiclr-27370	479	320	dishonesty	dishonesty	NOUN
iiclr-27370	479	321	,	,	PUNCT
iiclr-27370	479	322	or	or	CCONJ
iiclr-27370	479	323	any	any	DET
iiclr-27370	479	324	other	other	ADJ
iiclr-27370	479	325	offense	offense	NOUN
iiclr-27370	479	326	under	under	ADP
iiclr-27370	479	327	the	the	DET
iiclr-27370	479	328	sfa.219	sfa.219	NOUN
iiclr-27370	479	329	the	the	DET
iiclr-27370	479	330	sfa	sfa	NOUN
iiclr-27370	479	331	goes	go	VERB
iiclr-27370	479	332	on	on	ADP
iiclr-27370	479	333	to	to	PART
iiclr-27370	479	334	list	list	VERB
iiclr-27370	479	335	additional	additional	ADJ
iiclr-27370	479	336	grounds	ground	NOUN
iiclr-27370	479	337	for	for	ADP
iiclr-27370	479	338	denying	deny	VERB
iiclr-27370	479	339	licensure	licensure	NOUN
iiclr-27370	479	340	,	,	PUNCT
iiclr-27370	479	341	including	include	VERB
iiclr-27370	479	342	dissatisfaction	dissatisfaction	NOUN
iiclr-27370	479	343	with	with	ADP
iiclr-27370	479	344	the	the	DET
iiclr-27370	479	345	educational	educational	ADJ
iiclr-27370	479	346	or	or	CCONJ
iiclr-27370	479	347	other	other	ADJ
iiclr-27370	479	348	qualifications	qualification	NOUN
iiclr-27370	479	349	or	or	CCONJ
iiclr-27370	479	350	experiences	experience	NOUN
iiclr-27370	479	351	of	of	ADP
iiclr-27370	479	352	the	the	DET
iiclr-27370	479	353	officers	officer	NOUN
iiclr-27370	479	354	or	or	CCONJ
iiclr-27370	479	355	employees	employee	NOUN
iiclr-27370	479	356	of	of	ADP
iiclr-27370	479	357	the	the	DET
iiclr-27370	479	358	applicant	applicant	ADJ
iiclr-27370	479	359	,	,	PUNCT
iiclr-27370	479	360	reason	reason	NOUN
iiclr-27370	479	361	to	to	PART
iiclr-27370	479	362	believe	believe	VERB
iiclr-27370	479	363	that	that	SCONJ
iiclr-27370	479	364	the	the	DET
iiclr-27370	479	365	applicant	applicant	NOUN
iiclr-27370	479	366	will	will	AUX
iiclr-27370	479	367	be	be	AUX
iiclr-27370	479	368	unable	unable	ADJ
iiclr-27370	479	369	to	to	PART
iiclr-27370	479	370	act	act	VERB
iiclr-27370	479	371	in	in	ADP
iiclr-27370	479	372	the	the	DET
iiclr-27370	479	373	best	good	ADJ
iiclr-27370	479	374	interests	interest	NOUN
iiclr-27370	479	375	of	of	ADP
iiclr-27370	479	376	its	its	PRON
iiclr-27370	479	377	subscribers	subscriber	NOUN
iiclr-27370	479	378	,	,	PUNCT
iiclr-27370	479	379	dissatisfaction	dissatisfaction	NOUN
iiclr-27370	479	380	with	with	ADP
iiclr-27370	479	381	the	the	DET
iiclr-27370	479	382	financial	financial	ADJ
iiclr-27370	479	383	standing	standing	NOUN
iiclr-27370	479	384	of	of	ADP
iiclr-27370	479	385	the	the	DET
iiclr-27370	479	386	applicant	applicant	NOUN
iiclr-27370	479	387	,	,	PUNCT
iiclr-27370	479	388	and	and	CCONJ
iiclr-27370	479	389	the	the	DET
iiclr-27370	479	390	likelihood	likelihood	NOUN
iiclr-27370	479	391	of	of	ADP
iiclr-27370	479	392	an	an	DET
iiclr-27370	479	393	applicant	applicant	NOUN
iiclr-27370	479	394	to	to	PART
iiclr-27370	479	395	act	act	VERB
iiclr-27370	479	396	with	with	ADP
iiclr-27370	479	397	improper	improper	ADJ
iiclr-27370	479	398	conduct	conduct	NOUN
iiclr-27370	479	399	in	in	ADP
iiclr-27370	479	400	regard	regard	NOUN
iiclr-27370	479	401	to	to	PART
iiclr-27370	479	402	business.220	business.220	VERB
iiclr-27370	479	403	the	the	DET
iiclr-27370	479	404	mas	mas	PROPN
iiclr-27370	479	405	retains	retain	VERB
iiclr-27370	479	406	ultimate	ultimate	ADJ
iiclr-27370	479	407	control	control	NOUN
iiclr-27370	479	408	of	of	ADP
iiclr-27370	479	409	sfa	sfa	PROPN
iiclr-27370	479	410	licensure	licensure	NOUN
iiclr-27370	479	411	and	and	CCONJ
iiclr-27370	479	412	is	be	AUX
iiclr-27370	479	413	not	not	PART
iiclr-27370	479	414	required	require	VERB
iiclr-27370	479	415	to	to	PART
iiclr-27370	479	416	grant	grant	VERB
iiclr-27370	479	417	a	a	DET
iiclr-27370	479	418	license	license	NOUN
iiclr-27370	479	419	if	if	SCONJ
iiclr-27370	479	420	it	it	PRON
iiclr-27370	479	421	feels	feels	AUX
iiclr-27370	479	422	doing	do	VERB
iiclr-27370	479	423	so	so	ADV
iiclr-27370	479	424	would	would	AUX
iiclr-27370	479	425	be	be	AUX
iiclr-27370	479	426	contrary	contrary	ADJ
iiclr-27370	479	427	to	to	ADP
iiclr-27370	479	428	the	the	DET
iiclr-27370	479	429	public	public	ADJ
iiclr-27370	479	430	211	211	NUM
iiclr-27370	479	431	.	.	PUNCT
iiclr-27370	480	1	i	i	PRON
iiclr-27370	480	2	d.	d.	PROPN
iiclr-27370	480	3	at	at	ADP
iiclr-27370	480	4	863	863	NUM
iiclr-27370	480	5	.	.	PUNCT
iiclr-27370	481	1	212	212	NUM
iiclr-27370	481	2	.	.	PUNCT
iiclr-27370	482	1	i	i	PRON
iiclr-27370	482	2	d.	d.	PROPN
iiclr-27370	482	3	at	at	ADP
iiclr-27370	482	4	736	736	NUM
iiclr-27370	482	5	.	.	PUNCT
iiclr-27370	483	1	generally	generally	ADV
iiclr-27370	483	2	,	,	PUNCT
iiclr-27370	483	3	the	the	DET
iiclr-27370	483	4	mas	mas	PROPN
iiclr-27370	483	5	must	must	AUX
iiclr-27370	483	6	refuse	refuse	VERB
iiclr-27370	483	7	to	to	PART
iiclr-27370	483	8	register	register	VERB
iiclr-27370	483	9	a	a	DET
iiclr-27370	483	10	prospectus	prospectus	NOUN
iiclr-27370	483	11	if	if	SCONJ
iiclr-27370	483	12	it	it	PRON
iiclr-27370	483	13	believes	believe	VERB
iiclr-27370	483	14	the	the	DET
iiclr-27370	483	15	prospectus	prospectus	NOUN
iiclr-27370	483	16	to	to	PART
iiclr-27370	483	17	contain	contain	VERB
iiclr-27370	483	18	false	false	ADJ
iiclr-27370	483	19	or	or	CCONJ
iiclr-27370	483	20	misleading	misleading	ADJ
iiclr-27370	483	21	information	information	NOUN
iiclr-27370	483	22	,	,	PUNCT
iiclr-27370	483	23	if	if	SCONJ
iiclr-27370	483	24	all	all	DET
iiclr-27370	483	25	applicable	applicable	ADJ
iiclr-27370	483	26	registration	registration	NOUN
iiclr-27370	483	27	requirements	requirement	NOUN
iiclr-27370	483	28	are	be	AUX
iiclr-27370	483	29	not	not	PART
iiclr-27370	483	30	met	meet	VERB
iiclr-27370	483	31	,	,	PUNCT
iiclr-27370	483	32	or	or	CCONJ
iiclr-27370	483	33	if	if	SCONJ
iiclr-27370	483	34	the	the	DET
iiclr-27370	483	35	mas	mas	PROPN
iiclr-27370	483	36	does	do	AUX
iiclr-27370	483	37	not	not	PART
iiclr-27370	483	38	believe	believe	VERB
iiclr-27370	483	39	it	it	PRON
iiclr-27370	483	40	to	to	PART
iiclr-27370	483	41	be	be	AUX
iiclr-27370	483	42	in	in	ADP
iiclr-27370	483	43	the	the	DET
iiclr-27370	483	44	public	public	ADJ
iiclr-27370	483	45	interest	interest	NOUN
iiclr-27370	483	46	to	to	PART
iiclr-27370	483	47	do	do	VERB
iiclr-27370	483	48	so	so	ADV
iiclr-27370	483	49	.	.	PUNCT
iiclr-27370	484	1	i	i	PRON
iiclr-27370	484	2	d.	d.	PROPN
iiclr-27370	484	3	213	213	NUM
iiclr-27370	484	4	.	.	PUNCT
iiclr-27370	485	1	i	i	PRON
iiclr-27370	485	2	d.	d.	PROPN
iiclr-27370	485	3	at	at	ADP
iiclr-27370	485	4	739	739	NUM
iiclr-27370	485	5	-	-	SYM
iiclr-27370	485	6	40	40	NUM
iiclr-27370	485	7	.	.	PUNCT
iiclr-27370	486	1	214	214	NUM
iiclr-27370	486	2	.	.	PUNCT
iiclr-27370	487	1	ikigai	ikigai	PROPN
iiclr-27370	487	2	l.	l.	PROPN
iiclr-27370	487	3	,	,	PUNCT
iiclr-27370	487	4	supra	supra	PROPN
iiclr-27370	487	5	note	note	PROPN
iiclr-27370	487	6	172	172	NUM
iiclr-27370	487	7	.	.	PUNCT
iiclr-27370	487	8	215	215	NUM
iiclr-27370	487	9	.	.	X
iiclr-27370	487	10	sfa	sfa	PROPN
iiclr-27370	487	11	,	,	PUNCT
iiclr-27370	487	12	supra	supra	PROPN
iiclr-27370	487	13	note	note	NOUN
iiclr-27370	487	14	202	202	NUM
iiclr-27370	487	15	,	,	PUNCT
iiclr-27370	487	16	at	at	ADP
iiclr-27370	487	17	341	341	NUM
iiclr-27370	487	18	.	.	PUNCT
iiclr-27370	487	19	216	216	NUM
iiclr-27370	487	20	.	.	PUNCT
iiclr-27370	488	1	i	i	PRON
iiclr-27370	488	2	d.	d.	PROPN
iiclr-27370	488	3	at	at	ADP
iiclr-27370	488	4	343	343	NUM
iiclr-27370	488	5	.	.	PUNCT
iiclr-27370	489	1	217	217	NUM
iiclr-27370	489	2	.	.	PUNCT
iiclr-27370	490	1	i	i	PRON
iiclr-27370	490	2	d.	d.	PROPN
iiclr-27370	490	3	at	at	ADP
iiclr-27370	490	4	343	343	NUM
iiclr-27370	490	5	-	-	SYM
iiclr-27370	490	6	46	46	NUM
iiclr-27370	490	7	.	.	PUNCT
iiclr-27370	490	8	218	218	NUM
iiclr-27370	490	9	.	.	PUNCT
iiclr-27370	491	1	i	i	PRON
iiclr-27370	491	2	d.	d.	PROPN
iiclr-27370	491	3	at	at	ADP
iiclr-27370	491	4	343	343	NUM
iiclr-27370	491	5	.	.	PUNCT
iiclr-27370	492	1	219	219	NUM
iiclr-27370	492	2	.	.	PUNCT
iiclr-27370	493	1	i	i	PRON
iiclr-27370	493	2	d.	d.	PROPN
iiclr-27370	493	3	at	at	ADP
iiclr-27370	493	4	344	344	NUM
iiclr-27370	493	5	.	.	PROPN
iiclr-27370	493	6	220	220	NUM
iiclr-27370	493	7	.	.	PUNCT
iiclr-27370	494	1	i	i	PRON
iiclr-27370	494	2	d.	d.	PROPN
iiclr-27370	494	3	at	at	ADP
iiclr-27370	494	4	343	343	NUM
iiclr-27370	494	5	-	-	SYM
iiclr-27370	494	6	46	46	NUM
iiclr-27370	494	7	.	.	PUNCT
iiclr-27370	494	8	216	216	NUM
iiclr-27370	494	9	indiana	indiana	PROPN
iiclr-27370	494	10	int’l	int’l	NOUN
iiclr-27370	494	11	&	&	CCONJ
iiclr-27370	494	12	comp	comp	PROPN
iiclr-27370	494	13	.	.	PUNCT
iiclr-27370	495	1	law	law	NOUN
iiclr-27370	495	2	review	review	NOUN
iiclr-27370	496	1	[	[	X
iiclr-27370	496	2	vol	vol	NOUN
iiclr-27370	496	3	.	.	PUNCT
iiclr-27370	496	4	33:191	33:191	NUM
iiclr-27370	496	5	interest.221	interest.221	VERB
iiclr-27370	496	6	the	the	DET
iiclr-27370	496	7	preceding	precede	VERB
iiclr-27370	496	8	list	list	NOUN
iiclr-27370	496	9	of	of	ADP
iiclr-27370	496	10	reasons	reason	NOUN
iiclr-27370	496	11	that	that	PRON
iiclr-27370	496	12	the	the	DET
iiclr-27370	496	13	mas	mas	PROPN
iiclr-27370	496	14	may	may	AUX
iiclr-27370	496	15	deny	deny	VERB
iiclr-27370	496	16	licensure	licensure	NOUN
iiclr-27370	496	17	is	be	AUX
iiclr-27370	496	18	illustrative	illustrative	ADJ
iiclr-27370	496	19	of	of	ADP
iiclr-27370	496	20	the	the	DET
iiclr-27370	496	21	principle	principle	NOUN
iiclr-27370	496	22	that	that	PRON
iiclr-27370	496	23	is	be	AUX
iiclr-27370	496	24	laid	lay	VERB
iiclr-27370	496	25	out	out	ADP
iiclr-27370	496	26	in	in	ADP
iiclr-27370	496	27	article	article	NOUN
iiclr-27370	496	28	88	88	NUM
iiclr-27370	496	29	of	of	ADP
iiclr-27370	496	30	the	the	DET
iiclr-27370	496	31	sfa	sfa	PROPN
iiclr-27370	496	32	,	,	PUNCT
iiclr-27370	496	33	which	which	PRON
iiclr-27370	496	34	states	state	VERB
iiclr-27370	496	35	that	that	SCONJ
iiclr-27370	496	36	the	the	DET
iiclr-27370	496	37	mas	mas	PROPN
iiclr-27370	496	38	may	may	AUX
iiclr-27370	496	39	deny	deny	VERB
iiclr-27370	496	40	capital	capital	NOUN
iiclr-27370	496	41	market	market	NOUN
iiclr-27370	496	42	services	service	NOUN
iiclr-27370	496	43	licensing	license	VERB
iiclr-27370	496	44	for	for	ADP
iiclr-27370	496	45	any	any	DET
iiclr-27370	496	46	reason	reason	NOUN
iiclr-27370	496	47	that	that	SCONJ
iiclr-27370	496	48	it	it	PRON
iiclr-27370	496	49	sees	see	VERB
iiclr-27370	496	50	fit.222	fit.222	NOUN
iiclr-27370	496	51	thus	thus	ADV
iiclr-27370	496	52	,	,	PUNCT
iiclr-27370	496	53	through	through	ADP
iiclr-27370	496	54	the	the	DET
iiclr-27370	496	55	sfa	sfa	PROPN
iiclr-27370	496	56	,	,	PUNCT
iiclr-27370	496	57	the	the	DET
iiclr-27370	496	58	mas	mas	PROPN
iiclr-27370	496	59	can	can	AUX
iiclr-27370	496	60	regulate	regulate	VERB
iiclr-27370	496	61	icos	ico	NOUN
iiclr-27370	496	62	by	by	ADP
iiclr-27370	496	63	offering	offer	VERB
iiclr-27370	496	64	oversight	oversight	NOUN
iiclr-27370	496	65	and	and	CCONJ
iiclr-27370	496	66	controlling	control	VERB
iiclr-27370	496	67	who	who	PRON
iiclr-27370	496	68	can	can	AUX
iiclr-27370	496	69	offer	offer	VERB
iiclr-27370	496	70	digital	digital	ADJ
iiclr-27370	496	71	payment	payment	NOUN
iiclr-27370	496	72	tokens	token	NOUN
iiclr-27370	496	73	.	.	PUNCT
iiclr-27370	497	1	by	by	ADP
iiclr-27370	497	2	maintaining	maintain	VERB
iiclr-27370	497	3	this	this	DET
iiclr-27370	497	4	type	type	NOUN
iiclr-27370	497	5	of	of	ADP
iiclr-27370	497	6	control	control	NOUN
iiclr-27370	497	7	over	over	ADP
iiclr-27370	497	8	who	who	PRON
iiclr-27370	497	9	can	can	AUX
iiclr-27370	497	10	offer	offer	VERB
iiclr-27370	497	11	cryptocurrencies	cryptocurrencie	NOUN
iiclr-27370	497	12	within	within	ADP
iiclr-27370	497	13	singapore	singapore	PROPN
iiclr-27370	497	14	,	,	PUNCT
iiclr-27370	497	15	the	the	DET
iiclr-27370	497	16	mas	mas	PROPN
iiclr-27370	497	17	is	be	AUX
iiclr-27370	497	18	able	able	ADJ
iiclr-27370	497	19	to	to	PART
iiclr-27370	497	20	offer	offer	VERB
iiclr-27370	497	21	a	a	DET
iiclr-27370	497	22	degree	degree	NOUN
iiclr-27370	497	23	of	of	ADP
iiclr-27370	497	24	investor	investor	NOUN
iiclr-27370	497	25	protection	protection	NOUN
iiclr-27370	497	26	,	,	PUNCT
iiclr-27370	497	27	while	while	SCONJ
iiclr-27370	497	28	preventing	prevent	VERB
iiclr-27370	497	29	fraud	fraud	NOUN
iiclr-27370	497	30	and	and	CCONJ
iiclr-27370	497	31	market	market	NOUN
iiclr-27370	497	32	manipulation	manipulation	NOUN
iiclr-27370	497	33	via	via	ADP
iiclr-27370	497	34	government	government	NOUN
iiclr-27370	497	35	licensure	licensure	NOUN
iiclr-27370	497	36	.	.	PUNCT
iiclr-27370	498	1	c.	c.	NOUN
iiclr-27370	498	2	prevention	prevention	PROPN
iiclr-27370	498	3	of	of	ADP
iiclr-27370	498	4	money	money	NOUN
iiclr-27370	498	5	laundering	laundering	NOUN
iiclr-27370	498	6	and	and	CCONJ
iiclr-27370	498	7	countering	counter	VERB
iiclr-27370	498	8	the	the	DET
iiclr-27370	498	9	financing	financing	NOUN
iiclr-27370	498	10	of	of	ADP
iiclr-27370	498	11	terrorism	terrorism	NOUN
iiclr-27370	498	12	as	as	SCONJ
iiclr-27370	498	13	is	be	AUX
iiclr-27370	498	14	the	the	DET
iiclr-27370	498	15	case	case	NOUN
iiclr-27370	498	16	in	in	ADP
iiclr-27370	498	17	the	the	DET
iiclr-27370	498	18	united	united	PROPN
iiclr-27370	498	19	states	states	PROPN
iiclr-27370	498	20	and	and	CCONJ
iiclr-27370	498	21	some	some	DET
iiclr-27370	498	22	other	other	ADJ
iiclr-27370	498	23	countries	country	NOUN
iiclr-27370	498	24	,	,	PUNCT
iiclr-27370	498	25	singapore	singapore	PROPN
iiclr-27370	498	26	has	have	VERB
iiclr-27370	498	27	general	general	ADJ
iiclr-27370	498	28	anti	anti	ADJ
iiclr-27370	498	29	-	-	ADJ
iiclr-27370	498	30	money	money	ADJ
iiclr-27370	498	31	laundering	laundering	NOUN
iiclr-27370	498	32	and	and	CCONJ
iiclr-27370	498	33	counterterrorism	counterterrorism	NOUN
iiclr-27370	498	34	funding	funding	NOUN
iiclr-27370	498	35	statutes	statute	NOUN
iiclr-27370	498	36	.	.	PUNCT
iiclr-27370	499	1	both	both	CCONJ
iiclr-27370	499	2	the	the	DET
iiclr-27370	499	3	corruption	corruption	NOUN
iiclr-27370	499	4	,	,	PUNCT
iiclr-27370	499	5	drug	drug	NOUN
iiclr-27370	499	6	trafficking	trafficking	NOUN
iiclr-27370	499	7	and	and	CCONJ
iiclr-27370	499	8	other	other	ADJ
iiclr-27370	499	9	serious	serious	ADJ
iiclr-27370	499	10	crimes	crime	NOUN
iiclr-27370	499	11	act	act	NOUN
iiclr-27370	499	12	(	(	PUNCT
iiclr-27370	499	13	cdsa	cdsa	ADV
iiclr-27370	499	14	)	)	PUNCT
iiclr-27370	499	15	and	and	CCONJ
iiclr-27370	499	16	the	the	DET
iiclr-27370	499	17	terrorism	terrorism	NOUN
iiclr-27370	499	18	suppression	suppression	NOUN
iiclr-27370	499	19	of	of	ADP
iiclr-27370	499	20	financing	financing	NOUN
iiclr-27370	499	21	act	act	NOUN
iiclr-27370	499	22	(	(	PUNCT
iiclr-27370	499	23	tsfa	tsfa	NOUN
iiclr-27370	499	24	)	)	PUNCT
iiclr-27370	499	25	obligate	obligate	NOUN
iiclr-27370	499	26	exchanges	exchange	NOUN
iiclr-27370	499	27	to	to	PART
iiclr-27370	499	28	report	report	VERB
iiclr-27370	499	29	suspicious	suspicious	ADJ
iiclr-27370	499	30	transactions	transaction	NOUN
iiclr-27370	499	31	with	with	ADP
iiclr-27370	499	32	the	the	DET
iiclr-27370	499	33	singaporean	singaporean	ADJ
iiclr-27370	499	34	police	police	NOUN
iiclr-27370	499	35	as	as	ADV
iiclr-27370	499	36	soon	soon	ADV
iiclr-27370	499	37	as	as	SCONJ
iiclr-27370	499	38	is	be	AUX
iiclr-27370	499	39	reasonably	reasonably	ADV
iiclr-27370	499	40	practicable	practicable	ADJ
iiclr-27370	499	41	,	,	PUNCT
iiclr-27370	499	42	with	with	ADP
iiclr-27370	499	43	failure	failure	NOUN
iiclr-27370	499	44	to	to	PART
iiclr-27370	499	45	do	do	AUX
iiclr-27370	499	46	so	so	ADV
iiclr-27370	499	47	being	be	AUX
iiclr-27370	499	48	a	a	DET
iiclr-27370	499	49	criminal	criminal	ADJ
iiclr-27370	499	50	offense	offense	NOUN
iiclr-27370	499	51	under	under	ADP
iiclr-27370	499	52	the	the	DET
iiclr-27370	499	53	cdsa.223	cdsa.223	PROPN
iiclr-27370	499	54	however	however	ADV
iiclr-27370	499	55	,	,	PUNCT
iiclr-27370	499	56	the	the	DET
iiclr-27370	499	57	mas	mas	PROPN
iiclr-27370	499	58	has	have	AUX
iiclr-27370	499	59	issued	issue	VERB
iiclr-27370	499	60	a	a	DET
iiclr-27370	499	61	notice	notice	NOUN
iiclr-27370	499	62	on	on	ADP
iiclr-27370	499	63	counterterrorism	counterterrorism	NOUN
iiclr-27370	499	64	funding	funding	NOUN
iiclr-27370	499	65	and	and	CCONJ
iiclr-27370	499	66	antimoney	antimoney	NOUN
iiclr-27370	499	67	laundering	laundering	NOUN
iiclr-27370	499	68	that	that	PRON
iiclr-27370	499	69	applies	apply	VERB
iiclr-27370	499	70	to	to	ADP
iiclr-27370	499	71	all	all	DET
iiclr-27370	499	72	cryptocurrency	cryptocurrency	NOUN
iiclr-27370	499	73	exchanges	exchange	NOUN
iiclr-27370	499	74	falling	fall	VERB
iiclr-27370	499	75	under	under	ADP
iiclr-27370	499	76	the	the	DET
iiclr-27370	499	77	psa	psa	NOUN
iiclr-27370	499	78	’s	’s	PART
iiclr-27370	499	79	regulatory	regulatory	ADJ
iiclr-27370	499	80	scope.224	scope.224	NOUN
iiclr-27370	499	81	notice	notice	NOUN
iiclr-27370	499	82	psn02	psn02	NOUN
iiclr-27370	499	83	,	,	PUNCT
iiclr-27370	499	84	also	also	ADV
iiclr-27370	499	85	known	know	VERB
iiclr-27370	499	86	as	as	ADP
iiclr-27370	499	87	the	the	DET
iiclr-27370	499	88	“	"	PUNCT
iiclr-27370	499	89	prevention	prevention	NOUN
iiclr-27370	499	90	of	of	ADP
iiclr-27370	499	91	money	money	NOUN
iiclr-27370	499	92	laundering	laundering	NOUN
iiclr-27370	499	93	and	and	CCONJ
iiclr-27370	499	94	countering	counter	VERB
iiclr-27370	499	95	the	the	DET
iiclr-27370	499	96	financing	financing	NOUN
iiclr-27370	499	97	of	of	ADP
iiclr-27370	499	98	terrorism	terrorism	NOUN
iiclr-27370	499	99	—	—	PUNCT
iiclr-27370	499	100	holders	holder	NOUN
iiclr-27370	499	101	of	of	ADP
iiclr-27370	499	102	payment	payment	NOUN
iiclr-27370	499	103	service	service	NOUN
iiclr-27370	499	104	license	license	NOUN
iiclr-27370	499	105	(	(	PUNCT
iiclr-27370	499	106	digital	digital	ADJ
iiclr-27370	499	107	payment	payment	NOUN
iiclr-27370	499	108	token	token	VERB
iiclr-27370	499	109	service	service	NOUN
iiclr-27370	499	110	)	)	PUNCT
iiclr-27370	499	111	,	,	PUNCT
iiclr-27370	499	112	”	"	PUNCT
iiclr-27370	499	113	applies	apply	VERB
iiclr-27370	499	114	directly	directly	ADV
iiclr-27370	499	115	to	to	PART
iiclr-27370	499	116	cryptocurrency	cryptocurrency	NOUN
iiclr-27370	499	117	exchanges	exchange	NOUN
iiclr-27370	499	118	operating	operate	VERB
iiclr-27370	499	119	within	within	ADP
iiclr-27370	499	120	singapore.225	singapore.225	NOUN
iiclr-27370	499	121	the	the	DET
iiclr-27370	499	122	psn02	psn02	NOUN
iiclr-27370	499	123	requires	require	VERB
iiclr-27370	499	124	payment	payment	NOUN
iiclr-27370	499	125	service	service	NOUN
iiclr-27370	499	126	providers	provider	NOUN
iiclr-27370	499	127	who	who	PRON
iiclr-27370	499	128	are	be	AUX
iiclr-27370	499	129	regulated	regulate	VERB
iiclr-27370	499	130	under	under	ADP
iiclr-27370	499	131	the	the	DET
iiclr-27370	499	132	psa	psa	NOUN
iiclr-27370	499	133	,	,	PUNCT
iiclr-27370	499	134	including	include	VERB
iiclr-27370	499	135	cryptocurrency	cryptocurrency	NOUN
iiclr-27370	499	136	exchanges	exchange	NOUN
iiclr-27370	499	137	,	,	PUNCT
iiclr-27370	499	138	to	to	PART
iiclr-27370	499	139	exercise	exercise	VERB
iiclr-27370	499	140	due	due	ADJ
iiclr-27370	499	141	diligence	diligence	NOUN
iiclr-27370	499	142	when	when	SCONJ
iiclr-27370	499	143	transacting	transact	VERB
iiclr-27370	499	144	with	with	ADP
iiclr-27370	499	145	customers.226	customers.226	PROPN
iiclr-27370	499	146	further	far	ADV
iiclr-27370	499	147	,	,	PUNCT
iiclr-27370	499	148	exchanges	exchange	NOUN
iiclr-27370	499	149	are	be	AUX
iiclr-27370	499	150	required	require	VERB
iiclr-27370	499	151	to	to	PART
iiclr-27370	499	152	conduct	conduct	VERB
iiclr-27370	499	153	business	business	NOUN
iiclr-27370	499	154	in	in	ADP
iiclr-27370	499	155	conformity	conformity	NOUN
iiclr-27370	499	156	with	with	ADP
iiclr-27370	499	157	certain	certain	ADJ
iiclr-27370	499	158	ethical	ethical	ADJ
iiclr-27370	499	159	standards	standard	NOUN
iiclr-27370	499	160	and	and	CCONJ
iiclr-27370	499	161	to	to	PART
iiclr-27370	499	162	refrain	refrain	VERB
iiclr-27370	499	163	from	from	ADP
iiclr-27370	499	164	establishing	establish	VERB
iiclr-27370	499	165	a	a	DET
iiclr-27370	499	166	business	business	NOUN
iiclr-27370	499	167	relationship	relationship	NOUN
iiclr-27370	499	168	or	or	CCONJ
iiclr-27370	499	169	undertaking	undertake	VERB
iiclr-27370	499	170	transactions	transaction	NOUN
iiclr-27370	499	171	connected	connect	VERB
iiclr-27370	499	172	with	with	ADP
iiclr-27370	499	173	,	,	PUNCT
iiclr-27370	499	174	or	or	CCONJ
iiclr-27370	499	175	that	that	PRON
iiclr-27370	499	176	may	may	AUX
iiclr-27370	499	177	facilitate	facilitate	VERB
iiclr-27370	499	178	,	,	PUNCT
iiclr-27370	499	179	terrorism	terrorism	NOUN
iiclr-27370	499	180	funding	funding	NOUN
iiclr-27370	499	181	or	or	CCONJ
iiclr-27370	499	182	money	money	NOUN
iiclr-27370	499	183	laundering.227	laundering.227	NOUN
iiclr-27370	499	184	if	if	SCONJ
iiclr-27370	499	185	concerns	concern	NOUN
iiclr-27370	499	186	about	about	ADP
iiclr-27370	499	187	money	money	NOUN
iiclr-27370	499	188	laundering	laundering	NOUN
iiclr-27370	499	189	or	or	CCONJ
iiclr-27370	499	190	terrorism	terrorism	NOUN
iiclr-27370	499	191	funding	funding	NOUN
iiclr-27370	499	192	arise	arise	VERB
iiclr-27370	499	193	,	,	PUNCT
iiclr-27370	499	194	the	the	DET
iiclr-27370	499	195	psn02	psn02	NOUN
iiclr-27370	499	196	requires	require	VERB
iiclr-27370	499	197	cryptocurrency	cryptocurrency	NOUN
iiclr-27370	499	198	exchanges	exchange	NOUN
iiclr-27370	499	199	to	to	PART
iiclr-27370	499	200	cooperate	cooperate	VERB
iiclr-27370	499	201	with	with	ADP
iiclr-27370	499	202	law	law	NOUN
iiclr-27370	499	203	enforcement	enforcement	NOUN
iiclr-27370	499	204	authorities.228	authorities.228	PROPN
iiclr-27370	499	205	additionally	additionally	ADV
iiclr-27370	499	206	,	,	PUNCT
iiclr-27370	499	207	the	the	DET
iiclr-27370	499	208	psn02	psn02	NOUN
iiclr-27370	499	209	requires	require	VERB
iiclr-27370	499	210	continuous	continuous	ADJ
iiclr-27370	499	211	risk	risk	NOUN
iiclr-27370	499	212	assessment	assessment	NOUN
iiclr-27370	499	213	and	and	CCONJ
iiclr-27370	499	214	mitigation	mitigation	NOUN
iiclr-27370	499	215	measures	measure	NOUN
iiclr-27370	499	216	in	in	ADP
iiclr-27370	499	217	order	order	NOUN
iiclr-27370	499	218	to	to	PART
iiclr-27370	499	219	prevent	prevent	VERB
iiclr-27370	499	220	the	the	DET
iiclr-27370	499	221	use	use	NOUN
iiclr-27370	499	222	221	221	NUM
iiclr-27370	499	223	.	.	PUNCT
iiclr-27370	500	1	i	i	PRON
iiclr-27370	500	2	d.	d.	PROPN
iiclr-27370	500	3	at	at	ADP
iiclr-27370	500	4	345	345	NUM
iiclr-27370	500	5	.	.	PUNCT
iiclr-27370	501	1	222	222	NUM
iiclr-27370	501	2	.	.	PUNCT
iiclr-27370	502	1	see	see	VERB
iiclr-27370	502	2	i	i	PRON
iiclr-27370	502	3	d.	d.	PROPN
iiclr-27370	502	4	at	at	ADP
iiclr-27370	502	5	346	346	NUM
iiclr-27370	502	6	.	.	PUNCT
iiclr-27370	503	1	223	223	NUM
iiclr-27370	503	2	.	.	PUNCT
iiclr-27370	503	3	pereire	pereire	NOUN
iiclr-27370	503	4	&	&	CCONJ
iiclr-27370	503	5	yingxin	yingxin	PROPN
iiclr-27370	503	6	,	,	PUNCT
iiclr-27370	503	7	supra	supra	PROPN
iiclr-27370	503	8	note	note	NOUN
iiclr-27370	503	9	162	162	NUM
iiclr-27370	503	10	.	.	PUNCT
iiclr-27370	504	1	224	224	NUM
iiclr-27370	504	2	.	.	PUNCT
iiclr-27370	505	1	i	i	PRON
iiclr-27370	505	2	d.	d.	PROPN
iiclr-27370	505	3	225	225	NUM
iiclr-27370	505	4	.	.	PUNCT
iiclr-27370	506	1	i	i	PRON
iiclr-27370	506	2	d.	d.	PROPN
iiclr-27370	506	3	226	226	NUM
iiclr-27370	506	4	.	.	PUNCT
iiclr-27370	507	1	notice	notice	VERB
iiclr-27370	507	2	to	to	ADP
iiclr-27370	507	3	holders	holder	NOUN
iiclr-27370	507	4	of	of	ADP
iiclr-27370	507	5	payment	payment	NOUN
iiclr-27370	507	6	services	service	NOUN
iiclr-27370	507	7	licence	licence	NOUN
iiclr-27370	507	8	(	(	PUNCT
iiclr-27370	507	9	digital	digital	ADJ
iiclr-27370	507	10	payment	payment	NOUN
iiclr-27370	507	11	token	token	VERB
iiclr-27370	507	12	service	service	NOUN
iiclr-27370	507	13	)	)	PUNCT
iiclr-27370	507	14	,	,	PUNCT
iiclr-27370	507	15	mas	mas	PROPN
iiclr-27370	507	16	notice	notice	PROPN
iiclr-27370	507	17	psn02	psn02	NOUN
iiclr-27370	507	18	,	,	PUNCT
iiclr-27370	507	19	(	(	PUNCT
iiclr-27370	507	20	2019	2019	NUM
iiclr-27370	507	21	)	)	PUNCT
iiclr-27370	507	22	(	(	PUNCT
iiclr-27370	507	23	sing	se	VERB
iiclr-27370	507	24	.	.	PUNCT
iiclr-27370	507	25	)	)	PUNCT
iiclr-27370	507	26	,	,	PUNCT
iiclr-27370	507	27	https://www.mas.gov.sg/-/media/mas-media-library/regulation/	https://www.mas.gov.sg/-/media/mas-media-library/regulation/	PROPN
iiclr-27370	507	28	notices	notice	NOUN
iiclr-27370	507	29	/	/	SYM
iiclr-27370	507	30	amld	amld	PROPN
iiclr-27370	507	31	/	/	SYM
iiclr-27370	507	32	psn02	psn02	NOUN
iiclr-27370	507	33	-	-	PUNCT
iiclr-27370	507	34	aml	aml	NOUN
iiclr-27370	507	35	-	-	PUNCT
iiclr-27370	507	36	cft	cft	NOUN
iiclr-27370	507	37	-	-	PUNCT
iiclr-27370	507	38	notice	notice	NOUN
iiclr-27370	507	39	---	---	PUNCT
iiclr-27370	507	40	digital	digital	ADJ
iiclr-27370	507	41	-	-	PUNCT
iiclr-27370	507	42	payment	payment	NOUN
iiclr-27370	507	43	-	-	PUNCT
iiclr-27370	507	44	token	token	VERB
iiclr-27370	507	45	-	-	PUNCT
iiclr-27370	507	46	service	service	NOUN
iiclr-27370	507	47	/	/	SYM
iiclr-27370	507	48	mas	mas	ADJ
iiclr-27370	507	49	-	-	PUNCT
iiclr-27370	507	50	notice	notice	NOUN
iiclr-27370	507	51	-	-	PUNCT
iiclr-27370	507	52	psn02	psn02	NOUN
iiclr-27370	507	53	-	-	PUNCT
iiclr-27370	507	54	-dpttracked.pdf	-dpttracked.pdf	PUNCT
iiclr-27370	508	1	[	[	X
iiclr-27370	508	2	https://perma.cc/u68y-mm9p	https://perma.cc/u68y-mm9p	NOUN
iiclr-27370	508	3	]	]	X
iiclr-27370	509	1	[	[	X
iiclr-27370	509	2	hereinafter	hereinafter	NOUN
iiclr-27370	509	3	psn02	psn02	NOUN
iiclr-27370	509	4	]	]	PUNCT
iiclr-27370	509	5	.	.	PUNCT
iiclr-27370	510	1	227	227	NUM
iiclr-27370	510	2	.	.	PUNCT
iiclr-27370	511	1	i	i	PRON
iiclr-27370	511	2	d.	d.	PROPN
iiclr-27370	511	3	at	at	ADP
iiclr-27370	511	4	6	6	NUM
iiclr-27370	511	5	.	.	PUNCT
iiclr-27370	511	6	228	228	NUM
iiclr-27370	511	7	.	.	PUNCT
iiclr-27370	512	1	i	i	PRON
iiclr-27370	512	2	d.	d.	PROPN
iiclr-27370	512	3	2023	2023	NUM
iiclr-27370	512	4	]	]	PUNCT
iiclr-27370	512	5	the	the	DET
iiclr-27370	512	6	wild	wild	ADJ
iiclr-27370	512	7	west	west	NOUN
iiclr-27370	512	8	,	,	PUNCT
iiclr-27370	512	9	cryptocurrency	cryptocurrency	NOUN
iiclr-27370	512	10	,	,	PUNCT
iiclr-27370	512	11	and	and	CCONJ
iiclr-27370	512	12	singapore	singapore	PROPN
iiclr-27370	512	13	217	217	NUM
iiclr-27370	512	14	of	of	ADP
iiclr-27370	512	15	cryptocurrency	cryptocurrency	NOUN
iiclr-27370	512	16	for	for	ADP
iiclr-27370	512	17	criminal	criminal	ADJ
iiclr-27370	512	18	enterprise.229	enterprise.229	NOUN
iiclr-27370	512	19	the	the	DET
iiclr-27370	512	20	psn02	psn02	NOUN
iiclr-27370	512	21	also	also	ADV
iiclr-27370	512	22	imposes	impose	VERB
iiclr-27370	512	23	customer	customer	NOUN
iiclr-27370	512	24	due	due	ADJ
iiclr-27370	512	25	diligence	diligence	NOUN
iiclr-27370	512	26	protocols	protocol	NOUN
iiclr-27370	512	27	,	,	PUNCT
iiclr-27370	512	28	which	which	PRON
iiclr-27370	512	29	are	be	AUX
iiclr-27370	512	30	intended	intend	VERB
iiclr-27370	512	31	to	to	PART
iiclr-27370	512	32	prevent	prevent	VERB
iiclr-27370	512	33	customers	customer	NOUN
iiclr-27370	512	34	from	from	ADP
iiclr-27370	512	35	opening	open	VERB
iiclr-27370	512	36	anonymous	anonymous	ADJ
iiclr-27370	512	37	accounts	account	NOUN
iiclr-27370	512	38	or	or	CCONJ
iiclr-27370	512	39	managing	manage	VERB
iiclr-27370	512	40	accounts	account	NOUN
iiclr-27370	512	41	under	under	ADP
iiclr-27370	512	42	an	an	DET
iiclr-27370	512	43	alias.230	alias.230	VERB
iiclr-27370	512	44	cryptocurrency	cryptocurrency	NOUN
iiclr-27370	512	45	exchanges	exchange	NOUN
iiclr-27370	512	46	must	must	AUX
iiclr-27370	512	47	comply	comply	VERB
iiclr-27370	512	48	with	with	ADP
iiclr-27370	512	49	these	these	DET
iiclr-27370	512	50	due	due	ADJ
iiclr-27370	512	51	diligence	diligence	NOUN
iiclr-27370	512	52	procedures	procedure	NOUN
iiclr-27370	512	53	to	to	PART
iiclr-27370	512	54	prevent	prevent	VERB
iiclr-27370	512	55	the	the	DET
iiclr-27370	512	56	use	use	NOUN
iiclr-27370	512	57	of	of	ADP
iiclr-27370	512	58	their	their	PRON
iiclr-27370	512	59	platform	platform	NOUN
iiclr-27370	512	60	for	for	ADP
iiclr-27370	512	61	illegal	illegal	ADJ
iiclr-27370	512	62	activities	activity	NOUN
iiclr-27370	512	63	often	often	ADV
iiclr-27370	512	64	conducted	conduct	VERB
iiclr-27370	512	65	on	on	ADP
iiclr-27370	512	66	such	such	ADJ
iiclr-27370	512	67	anonymous	anonymous	ADJ
iiclr-27370	512	68	or	or	CCONJ
iiclr-27370	512	69	pseudonymous	pseudonymous	ADJ
iiclr-27370	512	70	accounts.231	accounts.231	ADP
iiclr-27370	512	71	perhaps	perhaps	ADV
iiclr-27370	512	72	the	the	DET
iiclr-27370	512	73	most	most	ADV
iiclr-27370	512	74	basic	basic	ADJ
iiclr-27370	512	75	of	of	ADP
iiclr-27370	512	76	these	these	DET
iiclr-27370	512	77	requirements	requirement	NOUN
iiclr-27370	512	78	is	be	AUX
iiclr-27370	512	79	that	that	SCONJ
iiclr-27370	512	80	the	the	DET
iiclr-27370	512	81	exchanges	exchange	NOUN
iiclr-27370	512	82	must	must	AUX
iiclr-27370	512	83	positively	positively	ADV
iiclr-27370	512	84	identify	identify	VERB
iiclr-27370	512	85	all	all	DET
iiclr-27370	512	86	customers	customer	NOUN
iiclr-27370	512	87	using	use	VERB
iiclr-27370	512	88	reliable	reliable	ADJ
iiclr-27370	512	89	,	,	PUNCT
iiclr-27370	512	90	independent	independent	ADJ
iiclr-27370	512	91	data.232	data.232	NOUN
iiclr-27370	512	92	this	this	DET
iiclr-27370	512	93	identification	identification	NOUN
iiclr-27370	512	94	requirement	requirement	NOUN
iiclr-27370	512	95	includes	include	VERB
iiclr-27370	512	96	the	the	DET
iiclr-27370	512	97	collection	collection	NOUN
iiclr-27370	512	98	of	of	ADP
iiclr-27370	512	99	the	the	DET
iiclr-27370	512	100	customer	customer	NOUN
iiclr-27370	512	101	’s	’s	PART
iiclr-27370	512	102	full	full	ADJ
iiclr-27370	512	103	name	name	NOUN
iiclr-27370	512	104	,	,	PUNCT
iiclr-27370	512	105	any	any	DET
iiclr-27370	512	106	aliases	alias	NOUN
iiclr-27370	512	107	,	,	PUNCT
iiclr-27370	512	108	unique	unique	ADJ
iiclr-27370	512	109	identification	identification	NOUN
iiclr-27370	512	110	number	number	NOUN
iiclr-27370	512	111	,	,	PUNCT
iiclr-27370	512	112	such	such	ADJ
iiclr-27370	512	113	as	as	ADP
iiclr-27370	512	114	a	a	DET
iiclr-27370	512	115	driver	driver	NOUN
iiclr-27370	512	116	’s	’s	PART
iiclr-27370	512	117	license	license	NOUN
iiclr-27370	512	118	or	or	CCONJ
iiclr-27370	512	119	passport	passport	NOUN
iiclr-27370	512	120	number	number	NOUN
iiclr-27370	512	121	,	,	PUNCT
iiclr-27370	512	122	residential	residential	ADJ
iiclr-27370	512	123	address	address	NOUN
iiclr-27370	512	124	or	or	CCONJ
iiclr-27370	512	125	registered	register	VERB
iiclr-27370	512	126	business	business	NOUN
iiclr-27370	512	127	address	address	NOUN
iiclr-27370	512	128	,	,	PUNCT
iiclr-27370	512	129	date	date	NOUN
iiclr-27370	512	130	of	of	ADP
iiclr-27370	512	131	birth	birth	NOUN
iiclr-27370	512	132	,	,	PUNCT
iiclr-27370	512	133	and	and	CCONJ
iiclr-27370	512	134	nationality.233	nationality.233	PRON
iiclr-27370	512	135	further	far	ADV
iiclr-27370	512	136	,	,	PUNCT
iiclr-27370	512	137	when	when	SCONJ
iiclr-27370	512	138	a	a	DET
iiclr-27370	512	139	customer	customer	NOUN
iiclr-27370	512	140	appoints	appoint	VERB
iiclr-27370	512	141	a	a	DET
iiclr-27370	512	142	natural	natural	ADJ
iiclr-27370	512	143	person	person	NOUN
iiclr-27370	512	144	to	to	PART
iiclr-27370	512	145	act	act	VERB
iiclr-27370	512	146	on	on	ADP
iiclr-27370	512	147	their	their	PRON
iiclr-27370	512	148	behalf	behalf	NOUN
iiclr-27370	512	149	in	in	ADP
iiclr-27370	512	150	establishing	establish	VERB
iiclr-27370	512	151	relations	relation	NOUN
iiclr-27370	512	152	with	with	ADP
iiclr-27370	512	153	an	an	DET
iiclr-27370	512	154	exchange	exchange	NOUN
iiclr-27370	512	155	,	,	PUNCT
iiclr-27370	512	156	or	or	CCONJ
iiclr-27370	512	157	where	where	SCONJ
iiclr-27370	512	158	a	a	DET
iiclr-27370	512	159	customer	customer	NOUN
iiclr-27370	512	160	is	be	AUX
iiclr-27370	512	161	not	not	PART
iiclr-27370	512	162	a	a	DET
iiclr-27370	512	163	natural	natural	ADJ
iiclr-27370	512	164	person	person	NOUN
iiclr-27370	512	165	,	,	PUNCT
iiclr-27370	512	166	the	the	DET
iiclr-27370	512	167	exchange	exchange	NOUN
iiclr-27370	512	168	is	be	AUX
iiclr-27370	512	169	required	require	VERB
iiclr-27370	512	170	to	to	PART
iiclr-27370	512	171	verify	verify	VERB
iiclr-27370	512	172	the	the	DET
iiclr-27370	512	173	identity	identity	NOUN
iiclr-27370	512	174	of	of	ADP
iiclr-27370	512	175	each	each	DET
iiclr-27370	512	176	natural	natural	ADJ
iiclr-27370	512	177	person	person	NOUN
iiclr-27370	512	178	involved	involve	VERB
iiclr-27370	512	179	by	by	ADP
iiclr-27370	512	180	collecting	collect	VERB
iiclr-27370	512	181	the	the	DET
iiclr-27370	512	182	same	same	ADJ
iiclr-27370	512	183	information	information	NOUN
iiclr-27370	512	184	required	require	VERB
iiclr-27370	512	185	for	for	ADP
iiclr-27370	512	186	a	a	DET
iiclr-27370	512	187	typical	typical	ADJ
iiclr-27370	512	188	customer.234	customer.234	NOUN
iiclr-27370	512	189	when	when	SCONJ
iiclr-27370	512	190	an	an	DET
iiclr-27370	512	191	exchange	exchange	NOUN
iiclr-27370	512	192	has	have	VERB
iiclr-27370	512	193	reasonable	reasonable	ADJ
iiclr-27370	512	194	notice	notice	NOUN
iiclr-27370	512	195	of	of	ADP
iiclr-27370	512	196	grounds	ground	NOUN
iiclr-27370	512	197	for	for	ADP
iiclr-27370	512	198	believing	believe	VERB
iiclr-27370	512	199	that	that	SCONJ
iiclr-27370	512	200	a	a	DET
iiclr-27370	512	201	particular	particular	ADJ
iiclr-27370	512	202	account	account	NOUN
iiclr-27370	512	203	is	be	AUX
iiclr-27370	512	204	being	be	AUX
iiclr-27370	512	205	,	,	PUNCT
iiclr-27370	512	206	or	or	CCONJ
iiclr-27370	512	207	will	will	AUX
iiclr-27370	512	208	be	be	AUX
iiclr-27370	512	209	,	,	PUNCT
iiclr-27370	512	210	used	use	VERB
iiclr-27370	512	211	for	for	ADP
iiclr-27370	512	212	illegal	illegal	ADJ
iiclr-27370	512	213	activity	activity	NOUN
iiclr-27370	512	214	,	,	PUNCT
iiclr-27370	512	215	it	it	PRON
iiclr-27370	512	216	is	be	AUX
iiclr-27370	512	217	prohibited	prohibit	VERB
iiclr-27370	512	218	from	from	ADP
iiclr-27370	512	219	transacting	transact	VERB
iiclr-27370	512	220	with	with	ADP
iiclr-27370	512	221	the	the	DET
iiclr-27370	512	222	customer	customer	NOUN
iiclr-27370	512	223	or	or	CCONJ
iiclr-27370	512	224	,	,	PUNCT
iiclr-27370	512	225	if	if	SCONJ
iiclr-27370	512	226	an	an	DET
iiclr-27370	512	227	existing	exist	VERB
iiclr-27370	512	228	business	business	NOUN
iiclr-27370	512	229	relationship	relationship	NOUN
iiclr-27370	512	230	exists	exist	VERB
iiclr-27370	512	231	,	,	PUNCT
iiclr-27370	512	232	it	it	PRON
iiclr-27370	512	233	must	must	AUX
iiclr-27370	512	234	report	report	VERB
iiclr-27370	512	235	the	the	DET
iiclr-27370	512	236	account	account	NOUN
iiclr-27370	512	237	to	to	ADP
iiclr-27370	512	238	the	the	DET
iiclr-27370	512	239	mas.235	mas.235	NOUN
iiclr-27370	512	240	exchanges	exchange	NOUN
iiclr-27370	512	241	also	also	ADV
iiclr-27370	512	242	must	must	AUX
iiclr-27370	512	243	locate	locate	VERB
iiclr-27370	512	244	and	and	CCONJ
iiclr-27370	512	245	verify	verify	VERB
iiclr-27370	512	246	the	the	DET
iiclr-27370	512	247	identity	identity	NOUN
iiclr-27370	512	248	of	of	ADP
iiclr-27370	512	249	any	any	DET
iiclr-27370	512	250	beneficial	beneficial	ADJ
iiclr-27370	512	251	owners	owner	NOUN
iiclr-27370	512	252	in	in	ADP
iiclr-27370	512	253	relation	relation	NOUN
iiclr-27370	512	254	to	to	ADP
iiclr-27370	512	255	their	their	PRON
iiclr-27370	512	256	customers.236	customers.236	PROPN
iiclr-27370	512	257	as	as	ADP
iiclr-27370	512	258	part	part	NOUN
iiclr-27370	512	259	of	of	ADP
iiclr-27370	512	260	these	these	DET
iiclr-27370	512	261	procedures	procedure	NOUN
iiclr-27370	512	262	,	,	PUNCT
iiclr-27370	512	263	cryptocurrency	cryptocurrency	NOUN
iiclr-27370	512	264	exchanges	exchange	NOUN
iiclr-27370	512	265	must	must	AUX
iiclr-27370	512	266	collect	collect	VERB
iiclr-27370	512	267	information	information	NOUN
iiclr-27370	512	268	regarding	regard	VERB
iiclr-27370	512	269	the	the	DET
iiclr-27370	512	270	purpose	purpose	NOUN
iiclr-27370	512	271	of	of	ADP
iiclr-27370	512	272	transactions	transaction	NOUN
iiclr-27370	512	273	that	that	PRON
iiclr-27370	512	274	are	be	AUX
iiclr-27370	512	275	conducted	conduct	VERB
iiclr-27370	512	276	without	without	ADP
iiclr-27370	512	277	an	an	DET
iiclr-27370	512	278	account	account	NOUN
iiclr-27370	512	279	being	be	AUX
iiclr-27370	512	280	opened	open	VERB
iiclr-27370	512	281	,	,	PUNCT
iiclr-27370	512	282	review	review	VERB
iiclr-27370	512	283	all	all	DET
iiclr-27370	512	284	transactions	transaction	NOUN
iiclr-27370	512	285	undertaken	undertake	VERB
iiclr-27370	512	286	without	without	ADP
iiclr-27370	512	287	an	an	DET
iiclr-27370	512	288	account	account	NOUN
iiclr-27370	512	289	being	be	AUX
iiclr-27370	512	290	opened	open	VERB
iiclr-27370	512	291	,	,	PUNCT
iiclr-27370	512	292	and	and	CCONJ
iiclr-27370	512	293	continuously	continuously	ADV
iiclr-27370	512	294	monitor	monitor	VERB
iiclr-27370	512	295	all	all	DET
iiclr-27370	512	296	business	business	NOUN
iiclr-27370	512	297	relations	relation	NOUN
iiclr-27370	512	298	with	with	ADP
iiclr-27370	512	299	its	its	PRON
iiclr-27370	512	300	customers.237	customers.237	PROPN
iiclr-27370	512	301	article	article	NOUN
iiclr-27370	512	302	6.3	6.3	NUM
iiclr-27370	512	303	of	of	ADP
iiclr-27370	512	304	the	the	DET
iiclr-27370	512	305	psn02	psn02	NOUN
iiclr-27370	512	306	provides	provide	VERB
iiclr-27370	512	307	that	that	SCONJ
iiclr-27370	512	308	exchanges	exchange	NOUN
iiclr-27370	512	309	must	must	AUX
iiclr-27370	512	310	perform	perform	VERB
iiclr-27370	512	311	customer	customer	NOUN
iiclr-27370	512	312	due	due	ADJ
iiclr-27370	512	313	diligence	diligence	NOUN
iiclr-27370	512	314	at	at	ADP
iiclr-27370	512	315	various	various	ADJ
iiclr-27370	512	316	junctures.238	junctures.238	NOUN
iiclr-27370	512	317	specific	specific	ADJ
iiclr-27370	512	318	suspicious	suspicious	ADJ
iiclr-27370	512	319	activities	activity	NOUN
iiclr-27370	512	320	that	that	PRON
iiclr-27370	512	321	are	be	AUX
iiclr-27370	512	322	required	require	VERB
iiclr-27370	512	323	to	to	PART
iiclr-27370	512	324	be	be	AUX
iiclr-27370	512	325	investigated	investigate	VERB
iiclr-27370	512	326	due	due	ADP
iiclr-27370	512	327	to	to	ADP
iiclr-27370	512	328	their	their	PRON
iiclr-27370	512	329	potential	potential	ADJ
iiclr-27370	512	330	connection	connection	NOUN
iiclr-27370	512	331	to	to	ADP
iiclr-27370	512	332	criminal	criminal	ADJ
iiclr-27370	512	333	enterprise	enterprise	NOUN
iiclr-27370	512	334	include	include	VERB
iiclr-27370	512	335	(	(	PUNCT
iiclr-27370	512	336	1	1	X
iiclr-27370	512	337	)	)	PUNCT
iiclr-27370	512	338	recurring	recurring	NOUN
iiclr-27370	512	339	and	and	CCONJ
iiclr-27370	512	340	cumulatively	cumulatively	ADV
iiclr-27370	512	341	large	large	ADJ
iiclr-27370	512	342	transactions	transaction	NOUN
iiclr-27370	512	343	without	without	ADP
iiclr-27370	512	344	a	a	DET
iiclr-27370	512	345	“	"	PUNCT
iiclr-27370	512	346	real	real	ADJ
iiclr-27370	512	347	”	"	PUNCT
iiclr-27370	512	348	basis	basis	NOUN
iiclr-27370	512	349	,	,	PUNCT
iiclr-27370	512	350	(	(	PUNCT
iiclr-27370	512	351	2	2	X
iiclr-27370	512	352	)	)	PUNCT
iiclr-27370	512	353	repetitive	repetitive	ADJ
iiclr-27370	512	354	transfers	transfer	NOUN
iiclr-27370	512	355	of	of	ADP
iiclr-27370	512	356	digital	digital	ADJ
iiclr-27370	512	357	payment	payment	NOUN
iiclr-27370	512	358	tokens	token	NOUN
iiclr-27370	512	359	to	to	ADP
iiclr-27370	512	360	a	a	DET
iiclr-27370	512	361	single	single	ADJ
iiclr-27370	512	362	beneficiary	beneficiary	NOUN
iiclr-27370	512	363	,	,	PUNCT
iiclr-27370	512	364	(	(	PUNCT
iiclr-27370	512	365	3	3	X
iiclr-27370	512	366	)	)	PUNCT
iiclr-27370	512	367	recurring	recur	VERB
iiclr-27370	512	368	transactions	transaction	NOUN
iiclr-27370	512	369	for	for	ADP
iiclr-27370	512	370	the	the	DET
iiclr-27370	512	371	sale	sale	NOUN
iiclr-27370	512	372	or	or	CCONJ
iiclr-27370	512	373	purchase	purchase	NOUN
iiclr-27370	512	374	of	of	ADP
iiclr-27370	512	375	digital	digital	ADJ
iiclr-27370	512	376	payment	payment	NOUN
iiclr-27370	512	377	tokens	token	NOUN
iiclr-27370	512	378	within	within	ADP
iiclr-27370	512	379	a	a	DET
iiclr-27370	512	380	short	short	ADJ
iiclr-27370	512	381	period	period	NOUN
iiclr-27370	512	382	of	of	ADP
iiclr-27370	512	383	time	time	NOUN
iiclr-27370	512	384	,	,	PUNCT
iiclr-27370	512	385	and	and	CCONJ
iiclr-27370	512	386	(	(	PUNCT
iiclr-27370	512	387	4	4	X
iiclr-27370	512	388	)	)	PUNCT
iiclr-27370	512	389	the	the	DET
iiclr-27370	512	390	execution	execution	NOUN
iiclr-27370	512	391	of	of	ADP
iiclr-27370	512	392	many	many	ADJ
iiclr-27370	512	393	smaller	small	ADJ
iiclr-27370	512	394	transactions	transaction	NOUN
iiclr-27370	512	395	of	of	ADP
iiclr-27370	512	396	digital	digital	ADJ
iiclr-27370	512	397	payment	payment	NOUN
iiclr-27370	512	398	tokens	token	NOUN
iiclr-27370	512	399	,	,	PUNCT
iiclr-27370	512	400	with	with	ADP
iiclr-27370	512	401	each	each	DET
iiclr-27370	512	402	one	one	NOUN
iiclr-27370	512	403	being	be	AUX
iiclr-27370	512	404	small	small	ADJ
iiclr-27370	512	405	enough	enough	ADV
iiclr-27370	512	406	to	to	PART
iiclr-27370	512	407	avoid	avoid	VERB
iiclr-27370	512	408	raising	raise	VERB
iiclr-27370	512	409	red	red	ADJ
iiclr-27370	512	410	flags	flag	NOUN
iiclr-27370	512	411	,	,	PUNCT
iiclr-27370	512	412	but	but	CCONJ
iiclr-27370	512	413	that	that	SCONJ
iiclr-27370	512	414	when	when	SCONJ
iiclr-27370	512	415	looked	look	VERB
iiclr-27370	512	416	at	at	ADP
iiclr-27370	512	417	in	in	ADP
iiclr-27370	512	418	aggregate	aggregate	NOUN
iiclr-27370	512	419	would	would	AUX
iiclr-27370	512	420	equal	equal	VERB
iiclr-27370	512	421	a	a	DET
iiclr-27370	512	422	large	large	ADJ
iiclr-27370	512	423	enough	enough	ADJ
iiclr-27370	512	424	sum	sum	NOUN
iiclr-27370	512	425	to	to	PART
iiclr-27370	512	426	trigger	trigger	VERB
iiclr-27370	512	427	suspicions.239	suspicions.239	NOUN
iiclr-27370	512	428	article	article	NOUN
iiclr-27370	512	429	6.3	6.3	NUM
iiclr-27370	512	430	of	of	ADP
iiclr-27370	512	431	the	the	DET
iiclr-27370	512	432	psn02	psn02	NOUN
iiclr-27370	512	433	requires	require	VERB
iiclr-27370	512	434	customer	customer	NOUN
iiclr-27370	512	435	due	due	ADJ
iiclr-27370	512	436	diligence	diligence	NOUN
iiclr-27370	513	1	when	when	SCONJ
iiclr-27370	513	2	:	:	PUNCT
iiclr-27370	513	3	229	229	NUM
iiclr-27370	513	4	.	.	PUNCT
iiclr-27370	514	1	i	i	PRON
iiclr-27370	514	2	d.	d.	PROPN
iiclr-27370	514	3	at	at	ADP
iiclr-27370	514	4	6	6	NUM
iiclr-27370	514	5	-	-	SYM
iiclr-27370	514	6	7	7	NUM
iiclr-27370	514	7	.	.	NOUN
iiclr-27370	514	8	230	230	NUM
iiclr-27370	514	9	.	.	PUNCT
iiclr-27370	515	1	i	i	PRON
iiclr-27370	515	2	d.	d.	PROPN
iiclr-27370	515	3	at	at	ADP
iiclr-27370	515	4	7	7	NUM
iiclr-27370	515	5	-	-	SYM
iiclr-27370	515	6	15	15	NUM
iiclr-27370	515	7	.	.	NOUN
iiclr-27370	515	8	231	231	NUM
iiclr-27370	515	9	.	.	PUNCT
iiclr-27370	516	1	i	i	PRON
iiclr-27370	516	2	d.	d.	PROPN
iiclr-27370	516	3	at	at	ADP
iiclr-27370	516	4	8	8	NUM
iiclr-27370	516	5	-	-	SYM
iiclr-27370	516	6	13	13	NUM
iiclr-27370	516	7	.	.	PUNCT
iiclr-27370	517	1	232	232	NUM
iiclr-27370	517	2	.	.	PUNCT
iiclr-27370	518	1	i	i	PRON
iiclr-27370	518	2	d.	d.	PROPN
iiclr-27370	518	3	at	at	ADP
iiclr-27370	518	4	8	8	NUM
iiclr-27370	518	5	,	,	PUNCT
iiclr-27370	518	6	10	10	NUM
iiclr-27370	518	7	.	.	NOUN
iiclr-27370	518	8	233	233	NUM
iiclr-27370	518	9	.	.	PUNCT
iiclr-27370	519	1	i	i	PRON
iiclr-27370	519	2	d.	d.	PROPN
iiclr-27370	519	3	at	at	ADP
iiclr-27370	519	4	8	8	NUM
iiclr-27370	519	5	-	-	SYM
iiclr-27370	519	6	9	9	NUM
iiclr-27370	519	7	.	.	NOUN
iiclr-27370	519	8	234	234	NUM
iiclr-27370	519	9	.	.	PUNCT
iiclr-27370	520	1	i	i	PRON
iiclr-27370	520	2	d.	d.	PROPN
iiclr-27370	520	3	at	at	ADP
iiclr-27370	520	4	9	9	NUM
iiclr-27370	520	5	-	-	SYM
iiclr-27370	520	6	11	11	NUM
iiclr-27370	520	7	.	.	PUNCT
iiclr-27370	520	8	235	235	NUM
iiclr-27370	520	9	.	.	PUNCT
iiclr-27370	521	1	i	i	PRON
iiclr-27370	521	2	d.	d.	PROPN
iiclr-27370	521	3	at	at	ADP
iiclr-27370	521	4	7	7	NUM
iiclr-27370	521	5	-	-	SYM
iiclr-27370	521	6	8	8	NUM
iiclr-27370	521	7	.	.	PUNCT
iiclr-27370	521	8	236	236	NUM
iiclr-27370	521	9	.	.	PUNCT
iiclr-27370	522	1	i	i	PRON
iiclr-27370	522	2	d.	d.	PROPN
iiclr-27370	522	3	at	at	ADP
iiclr-27370	522	4	11	11	NUM
iiclr-27370	522	5	-	-	SYM
iiclr-27370	522	6	12	12	NUM
iiclr-27370	522	7	.	.	PUNCT
iiclr-27370	522	8	237	237	NUM
iiclr-27370	522	9	.	.	PUNCT
iiclr-27370	523	1	i	i	PRON
iiclr-27370	523	2	d.	d.	PROPN
iiclr-27370	523	3	at	at	ADP
iiclr-27370	523	4	13	13	NUM
iiclr-27370	523	5	-	-	SYM
iiclr-27370	523	6	15	15	NUM
iiclr-27370	523	7	.	.	PUNCT
iiclr-27370	524	1	238	238	NUM
iiclr-27370	524	2	.	.	PUNCT
iiclr-27370	525	1	i	i	PRON
iiclr-27370	525	2	d.	d.	PROPN
iiclr-27370	525	3	art	art	PROPN
iiclr-27370	525	4	.	.	PUNCT
iiclr-27370	526	1	6.3	6.3	NUM
iiclr-27370	526	2	.	.	X
iiclr-27370	527	1	239	239	NUM
iiclr-27370	527	2	.	.	PUNCT
iiclr-27370	528	1	singapore	singapore	PROPN
iiclr-27370	528	2	cryptocurrency	cryptocurrency	NOUN
iiclr-27370	528	3	regulations	regulation	NOUN
iiclr-27370	528	4	2021	2021	NUM
iiclr-27370	528	5	,	,	PUNCT
iiclr-27370	528	6	coinfirm	coinfirm	NOUN
iiclr-27370	528	7	,	,	PUNCT
iiclr-27370	528	8	https://www.coinfirm.com/	https://www.coinfirm.com/	NOUN
iiclr-27370	528	9	218	218	NUM
iiclr-27370	528	10	indiana	indiana	PROPN
iiclr-27370	528	11	int’l	int’l	NOUN
iiclr-27370	528	12	&	&	CCONJ
iiclr-27370	528	13	comp	comp	PROPN
iiclr-27370	528	14	.	.	PUNCT
iiclr-27370	529	1	law	law	NOUN
iiclr-27370	529	2	review	review	NOUN
iiclr-27370	530	1	[	[	X
iiclr-27370	530	2	vol	vol	NOUN
iiclr-27370	530	3	.	.	PUNCT
iiclr-27370	531	1	33:191	33:191	NUM
iiclr-27370	531	2	(	(	PUNCT
iiclr-27370	531	3	a	a	X
iiclr-27370	531	4	)	)	PUNCT
iiclr-27370	531	5	the	the	DET
iiclr-27370	531	6	payment	payment	NOUN
iiclr-27370	531	7	service	service	NOUN
iiclr-27370	531	8	provider	provider	NOUN
iiclr-27370	531	9	establishes	establish	VERB
iiclr-27370	531	10	business	business	NOUN
iiclr-27370	531	11	relations	relation	NOUN
iiclr-27370	531	12	with	with	ADP
iiclr-27370	531	13	any	any	DET
iiclr-27370	531	14	customer	customer	NOUN
iiclr-27370	531	15	;	;	PUNCT
iiclr-27370	531	16	(	(	PUNCT
iiclr-27370	531	17	b	b	X
iiclr-27370	531	18	)	)	PUNCT
iiclr-27370	531	19	the	the	DET
iiclr-27370	531	20	payment	payment	NOUN
iiclr-27370	531	21	service	service	NOUN
iiclr-27370	531	22	provider	provider	NOUN
iiclr-27370	531	23	undertakes	undertake	VERB
iiclr-27370	531	24	any	any	DET
iiclr-27370	531	25	transaction	transaction	NOUN
iiclr-27370	531	26	for	for	ADP
iiclr-27370	531	27	any	any	DET
iiclr-27370	531	28	customer	customer	NOUN
iiclr-27370	531	29	who	who	PRON
iiclr-27370	531	30	has	have	AUX
iiclr-27370	531	31	not	not	PART
iiclr-27370	531	32	otherwise	otherwise	ADV
iiclr-27370	531	33	established	establish	VERB
iiclr-27370	531	34	business	business	NOUN
iiclr-27370	531	35	relations	relation	NOUN
iiclr-27370	531	36	with	with	ADP
iiclr-27370	531	37	the	the	DET
iiclr-27370	531	38	payment	payment	NOUN
iiclr-27370	531	39	service	service	NOUN
iiclr-27370	531	40	provider	provider	NOUN
iiclr-27370	531	41	;	;	PUNCT
iiclr-27370	531	42	(	(	PUNCT
iiclr-27370	531	43	c	c	X
iiclr-27370	531	44	)	)	PUNCT
iiclr-27370	531	45	the	the	DET
iiclr-27370	531	46	payment	payment	NOUN
iiclr-27370	531	47	service	service	NOUN
iiclr-27370	531	48	provider	provider	NOUN
iiclr-27370	531	49	effects	effect	NOUN
iiclr-27370	531	50	or	or	CCONJ
iiclr-27370	531	51	receives	receive	VERB
iiclr-27370	531	52	digital	digital	ADJ
iiclr-27370	531	53	payment	payment	NOUN
iiclr-27370	531	54	tokens	token	NOUN
iiclr-27370	531	55	by	by	ADP
iiclr-27370	531	56	value	value	NOUN
iiclr-27370	531	57	transfer	transfer	NOUN
iiclr-27370	531	58	,	,	PUNCT
iiclr-27370	531	59	for	for	ADP
iiclr-27370	531	60	any	any	DET
iiclr-27370	531	61	customer	customer	NOUN
iiclr-27370	531	62	who	who	PRON
iiclr-27370	531	63	has	have	AUX
iiclr-27370	531	64	not	not	PART
iiclr-27370	531	65	otherwise	otherwise	ADV
iiclr-27370	531	66	established	establish	VERB
iiclr-27370	531	67	business	business	NOUN
iiclr-27370	531	68	relations	relation	NOUN
iiclr-27370	531	69	with	with	ADP
iiclr-27370	531	70	the	the	DET
iiclr-27370	531	71	payment	payment	NOUN
iiclr-27370	531	72	service	service	NOUN
iiclr-27370	531	73	provider	provider	NOUN
iiclr-27370	531	74	;	;	PUNCT
iiclr-27370	531	75	(	(	PUNCT
iiclr-27370	531	76	d	d	X
iiclr-27370	531	77	)	)	PUNCT
iiclr-27370	531	78	there	there	PRON
iiclr-27370	531	79	is	be	VERB
iiclr-27370	531	80	a	a	DET
iiclr-27370	531	81	suspicion	suspicion	NOUN
iiclr-27370	531	82	of	of	ADP
iiclr-27370	531	83	money	money	NOUN
iiclr-27370	531	84	laundering	laundering	NOUN
iiclr-27370	531	85	or	or	CCONJ
iiclr-27370	531	86	terrorism	terrorism	NOUN
iiclr-27370	531	87	financing	financing	NOUN
iiclr-27370	531	88	,	,	PUNCT
iiclr-27370	531	89	notwithstanding	notwithstanding	SCONJ
iiclr-27370	531	90	that	that	SCONJ
iiclr-27370	531	91	the	the	DET
iiclr-27370	531	92	payment	payment	NOUN
iiclr-27370	531	93	service	service	NOUN
iiclr-27370	531	94	provider	provider	NOUN
iiclr-27370	531	95	would	would	AUX
iiclr-27370	531	96	not	not	PART
iiclr-27370	531	97	otherwise	otherwise	ADV
iiclr-27370	531	98	be	be	AUX
iiclr-27370	531	99	required	require	VERB
iiclr-27370	531	100	by	by	ADP
iiclr-27370	531	101	this	this	DET
iiclr-27370	531	102	notice	notice	NOUN
iiclr-27370	531	103	to	to	PART
iiclr-27370	531	104	perform	perform	VERB
iiclr-27370	531	105	the	the	DET
iiclr-27370	531	106	measures	measure	NOUN
iiclr-27370	531	107	as	as	SCONJ
iiclr-27370	531	108	required	require	VERB
iiclr-27370	531	109	by	by	ADP
iiclr-27370	531	110	paragraphs	paragraph	NOUN
iiclr-27370	531	111	6	6	NUM
iiclr-27370	531	112	,	,	PUNCT
iiclr-27370	531	113	7	7	NUM
iiclr-27370	531	114	and	and	CCONJ
iiclr-27370	531	115	8	8	NUM
iiclr-27370	531	116	;	;	PUNCT
iiclr-27370	531	117	or	or	CCONJ
iiclr-27370	531	118	(	(	PUNCT
iiclr-27370	531	119	e	e	X
iiclr-27370	531	120	)	)	PUNCT
iiclr-27370	531	121	the	the	DET
iiclr-27370	531	122	payment	payment	NOUN
iiclr-27370	531	123	service	service	NOUN
iiclr-27370	531	124	provider	provider	NOUN
iiclr-27370	531	125	has	have	VERB
iiclr-27370	531	126	doubts	doubt	NOUN
iiclr-27370	531	127	about	about	ADP
iiclr-27370	531	128	the	the	DET
iiclr-27370	531	129	veracity	veracity	NOUN
iiclr-27370	531	130	or	or	CCONJ
iiclr-27370	531	131	adequacy	adequacy	NOUN
iiclr-27370	531	132	of	of	ADP
iiclr-27370	531	133	any	any	DET
iiclr-27370	531	134	information	information	NOUN
iiclr-27370	531	135	previously	previously	ADV
iiclr-27370	531	136	obtained.240	obtained.240	PROPN
iiclr-27370	531	137	if	if	SCONJ
iiclr-27370	531	138	,	,	PUNCT
iiclr-27370	531	139	for	for	ADP
iiclr-27370	531	140	whatever	whatever	DET
iiclr-27370	531	141	reason	reason	NOUN
iiclr-27370	531	142	,	,	PUNCT
iiclr-27370	531	143	a	a	DET
iiclr-27370	531	144	token	token	ADJ
iiclr-27370	531	145	provider	provider	NOUN
iiclr-27370	531	146	is	be	AUX
iiclr-27370	531	147	unable	unable	ADJ
iiclr-27370	531	148	to	to	PART
iiclr-27370	531	149	complete	complete	VERB
iiclr-27370	531	150	any	any	PRON
iiclr-27370	531	151	of	of	ADP
iiclr-27370	531	152	these	these	DET
iiclr-27370	531	153	customer	customer	NOUN
iiclr-27370	531	154	and	and	CCONJ
iiclr-27370	531	155	transaction	transaction	NOUN
iiclr-27370	531	156	verification	verification	NOUN
iiclr-27370	531	157	measures	measure	NOUN
iiclr-27370	531	158	,	,	PUNCT
iiclr-27370	531	159	it	it	PRON
iiclr-27370	531	160	is	be	AUX
iiclr-27370	531	161	prohibited	prohibit	VERB
iiclr-27370	531	162	from	from	ADP
iiclr-27370	531	163	continuing	continue	VERB
iiclr-27370	531	164	or	or	CCONJ
iiclr-27370	531	165	beginning	begin	VERB
iiclr-27370	531	166	business	business	NOUN
iiclr-27370	531	167	with	with	ADP
iiclr-27370	531	168	a	a	DET
iiclr-27370	531	169	customer	customer	NOUN
iiclr-27370	531	170	,	,	PUNCT
iiclr-27370	531	171	and	and	CCONJ
iiclr-27370	531	172	the	the	DET
iiclr-27370	531	173	provider	provider	NOUN
iiclr-27370	531	174	must	must	AUX
iiclr-27370	531	175	report	report	VERB
iiclr-27370	531	176	that	that	DET
iiclr-27370	531	177	customer	customer	NOUN
iiclr-27370	531	178	to	to	ADP
iiclr-27370	531	179	the	the	DET
iiclr-27370	531	180	mas	mas	PROPN
iiclr-27370	531	181	if	if	SCONJ
iiclr-27370	531	182	the	the	DET
iiclr-27370	531	183	circumstances	circumstance	NOUN
iiclr-27370	531	184	surrounding	surround	VERB
iiclr-27370	531	185	the	the	DET
iiclr-27370	531	186	transaction	transaction	NOUN
iiclr-27370	531	187	are	be	AUX
iiclr-27370	531	188	suspicious.241	suspicious.241	NUM
iiclr-27370	531	189	iv	iv	NUM
iiclr-27370	531	190	.	.	PUNCT
iiclr-27370	531	191	recommendation	recommendation	NOUN
iiclr-27370	531	192	it	it	PRON
iiclr-27370	531	193	is	be	AUX
iiclr-27370	531	194	important	important	ADJ
iiclr-27370	531	195	to	to	PART
iiclr-27370	531	196	note	note	VERB
iiclr-27370	531	197	that	that	SCONJ
iiclr-27370	531	198	there	there	PRON
iiclr-27370	531	199	are	be	VERB
iiclr-27370	531	200	arguments	argument	NOUN
iiclr-27370	531	201	to	to	PART
iiclr-27370	531	202	be	be	AUX
iiclr-27370	531	203	made	make	VERB
iiclr-27370	531	204	against	against	ADP
iiclr-27370	531	205	the	the	DET
iiclr-27370	531	206	regulation	regulation	NOUN
iiclr-27370	531	207	of	of	ADP
iiclr-27370	531	208	cryptocurrency	cryptocurrency	NOUN
iiclr-27370	531	209	.	.	PUNCT
iiclr-27370	532	1	elon	elon	PROPN
iiclr-27370	532	2	musk	musk	PROPN
iiclr-27370	532	3	—	—	PUNCT
iiclr-27370	532	4	billionaire	billionaire	NOUN
iiclr-27370	532	5	,	,	PUNCT
iiclr-27370	532	6	crypto	crypto	NOUN
iiclr-27370	532	7	enthusiast	enthusiast	NOUN
iiclr-27370	532	8	,	,	PUNCT
iiclr-27370	532	9	and	and	CCONJ
iiclr-27370	532	10	chief	chief	ADJ
iiclr-27370	532	11	executive	executive	ADJ
iiclr-27370	532	12	officer	officer	NOUN
iiclr-27370	532	13	of	of	ADP
iiclr-27370	532	14	both	both	CCONJ
iiclr-27370	532	15	tesla	tesla	PROPN
iiclr-27370	532	16	and	and	CCONJ
iiclr-27370	532	17	spacex	spacex	PROPN
iiclr-27370	532	18	—	—	PUNCT
iiclr-27370	532	19	has	have	AUX
iiclr-27370	532	20	spoken	speak	VERB
iiclr-27370	532	21	out	out	ADP
iiclr-27370	532	22	against	against	ADP
iiclr-27370	532	23	the	the	DET
iiclr-27370	532	24	governmental	governmental	ADJ
iiclr-27370	532	25	regulation	regulation	NOUN
iiclr-27370	532	26	of	of	ADP
iiclr-27370	532	27	cryptocurrency.242	cryptocurrency.242	PROPN
iiclr-27370	532	28	says	say	VERB
iiclr-27370	532	29	musk	musk	ADJ
iiclr-27370	532	30	,	,	PUNCT
iiclr-27370	532	31	“	"	PUNCT
iiclr-27370	532	32	(	(	PUNCT
iiclr-27370	532	33	i)t	i)t	X
iiclr-27370	532	34	is	be	AUX
iiclr-27370	532	35	not	not	PART
iiclr-27370	532	36	possible	possible	ADJ
iiclr-27370	532	37	to	to	PART
iiclr-27370	532	38	,	,	PUNCT
iiclr-27370	532	39	i	i	PRON
iiclr-27370	532	40	think	think	VERB
iiclr-27370	532	41	,	,	PUNCT
iiclr-27370	532	42	to	to	PART
iiclr-27370	532	43	destroy	destroy	VERB
iiclr-27370	532	44	crypto	crypto	NOUN
iiclr-27370	532	45	,	,	PUNCT
iiclr-27370	532	46	but	but	CCONJ
iiclr-27370	532	47	it	it	PRON
iiclr-27370	532	48	is	be	AUX
iiclr-27370	532	49	possible	possible	ADJ
iiclr-27370	532	50	for	for	SCONJ
iiclr-27370	532	51	governments	government	NOUN
iiclr-27370	532	52	to	to	PART
iiclr-27370	532	53	slow	slow	VERB
iiclr-27370	532	54	down	down	ADP
iiclr-27370	532	55	its	its	PRON
iiclr-27370	532	56	advancement	advancement	NOUN
iiclr-27370	532	57	.	.	PUNCT
iiclr-27370	533	1	”243	”243	PROPN
iiclr-27370	533	2	musk	musk	PROPN
iiclr-27370	533	3	’s	’s	PART
iiclr-27370	533	4	school	school	NOUN
iiclr-27370	533	5	of	of	ADP
iiclr-27370	533	6	thought	thought	NOUN
iiclr-27370	533	7	is	be	AUX
iiclr-27370	533	8	based	base	VERB
iiclr-27370	533	9	on	on	ADP
iiclr-27370	533	10	the	the	DET
iiclr-27370	533	11	belief	belief	NOUN
iiclr-27370	533	12	that	that	SCONJ
iiclr-27370	533	13	governmental	governmental	ADJ
iiclr-27370	533	14	oversight	oversight	NOUN
iiclr-27370	533	15	will	will	AUX
iiclr-27370	533	16	destroy	destroy	VERB
iiclr-27370	533	17	the	the	DET
iiclr-27370	533	18	decentralized	decentralized	ADJ
iiclr-27370	533	19	nature	nature	NOUN
iiclr-27370	533	20	of	of	ADP
iiclr-27370	533	21	cryptocurrency.244	cryptocurrency.244	NOUN
iiclr-27370	533	22	however	however	ADV
iiclr-27370	533	23	,	,	PUNCT
iiclr-27370	533	24	the	the	DET
iiclr-27370	533	25	reality	reality	NOUN
iiclr-27370	533	26	is	be	AUX
iiclr-27370	533	27	that	that	SCONJ
iiclr-27370	533	28	cryptocurrency	cryptocurrency	NOUN
iiclr-27370	533	29	must	must	AUX
iiclr-27370	533	30	be	be	AUX
iiclr-27370	533	31	regulated	regulate	VERB
iiclr-27370	533	32	in	in	ADP
iiclr-27370	533	33	order	order	NOUN
iiclr-27370	533	34	to	to	PART
iiclr-27370	533	35	protect	protect	VERB
iiclr-27370	533	36	cryptocurrency	cryptocurrency	NOUN
iiclr-27370	533	37	investors	investor	NOUN
iiclr-27370	533	38	,	,	PUNCT
iiclr-27370	533	39	prevent	prevent	VERB
iiclr-27370	533	40	the	the	DET
iiclr-27370	533	41	use	use	NOUN
iiclr-27370	533	42	of	of	ADP
iiclr-27370	533	43	cryptocurrency	cryptocurrency	NOUN
iiclr-27370	533	44	in	in	ADP
iiclr-27370	533	45	criminal	criminal	ADJ
iiclr-27370	533	46	enterprise	enterprise	NOUN
iiclr-27370	533	47	,	,	PUNCT
iiclr-27370	533	48	and	and	CCONJ
iiclr-27370	533	49	stifle	stifle	VERB
iiclr-27370	533	50	market	market	NOUN
iiclr-27370	533	51	manipulation.245	manipulation.245	NOUN
iiclr-27370	533	52	there	there	PRON
iiclr-27370	533	53	is	be	VERB
iiclr-27370	533	54	no	no	DET
iiclr-27370	533	55	doubt	doubt	NOUN
iiclr-27370	533	56	that	that	SCONJ
iiclr-27370	533	57	market	market	NOUN
iiclr-27370	533	58	manipulation	manipulation	NOUN
iiclr-27370	533	59	and	and	CCONJ
iiclr-27370	533	60	price	price	NOUN
iiclr-27370	533	61	volatility	volatility	NOUN
iiclr-27370	533	62	have	have	AUX
iiclr-27370	533	63	run	run	VERB
iiclr-27370	533	64	rampant	rampant	ADJ
iiclr-27370	533	65	in	in	ADP
iiclr-27370	533	66	cryptocurrency.246	cryptocurrency.246	PROPN
iiclr-27370	533	67	blog	blog	PROPN
iiclr-27370	533	68	/	/	SYM
iiclr-27370	533	69	singapore	singapore	NOUN
iiclr-27370	533	70	-	-	PUNCT
iiclr-27370	533	71	cryptocurrency	cryptocurrency	NOUN
iiclr-27370	533	72	-	-	PUNCT
iiclr-27370	533	73	regulations/	regulations/	NUM
iiclr-27370	534	1	[	[	X
iiclr-27370	534	2	https://perma.cc/gfn6-7pdp	https://perma.cc/gfn6-7pdp	X
iiclr-27370	534	3	]	]	X
iiclr-27370	534	4	.	.	PUNCT
iiclr-27370	535	1	240	240	NUM
iiclr-27370	535	2	.	.	PUNCT
iiclr-27370	535	3	psn02	psn02	NOUN
iiclr-27370	535	4	,	,	PUNCT
iiclr-27370	535	5	supra	supra	PROPN
iiclr-27370	535	6	note	note	NOUN
iiclr-27370	535	7	226	226	NUM
iiclr-27370	535	8	,	,	PUNCT
iiclr-27370	535	9	at	at	ADP
iiclr-27370	535	10	9	9	NUM
iiclr-27370	535	11	.	.	PUNCT
iiclr-27370	535	12	241	241	NUM
iiclr-27370	535	13	.	.	PUNCT
iiclr-27370	536	1	i	i	PRON
iiclr-27370	536	2	d.	d.	PROPN
iiclr-27370	536	3	at	at	ADP
iiclr-27370	536	4	17	17	NUM
iiclr-27370	536	5	-	-	SYM
iiclr-27370	536	6	18	18	NUM
iiclr-27370	536	7	.	.	PUNCT
iiclr-27370	536	8	242	242	NUM
iiclr-27370	536	9	.	.	PUNCT
iiclr-27370	537	1	mackenzie	mackenzie	PROPN
iiclr-27370	537	2	sigalos	sigalos	PROPN
iiclr-27370	537	3	,	,	PUNCT
iiclr-27370	537	4	tesla	tesla	PROPN
iiclr-27370	537	5	ceo	ceo	PROPN
iiclr-27370	537	6	elon	elon	PROPN
iiclr-27370	537	7	musk	musk	PROPN
iiclr-27370	537	8	says	say	VERB
iiclr-27370	537	9	u.s	u.s	PROPN
iiclr-27370	537	10	.	.	PROPN
iiclr-27370	537	11	government	government	NOUN
iiclr-27370	537	12	should	should	AUX
iiclr-27370	537	13	avoid	avoid	VERB
iiclr-27370	537	14	regulating	regulate	VERB
iiclr-27370	537	15	crypto	crypto	NOUN
iiclr-27370	537	16	,	,	PUNCT
iiclr-27370	537	17	cnbc	cnbc	PROPN
iiclr-27370	537	18	(	(	PUNCT
iiclr-27370	537	19	sep	sep	PROPN
iiclr-27370	537	20	.	.	PROPN
iiclr-27370	537	21	28	28	NUM
iiclr-27370	537	22	,	,	PUNCT
iiclr-27370	537	23	2021	2021	NUM
iiclr-27370	537	24	)	)	PUNCT
iiclr-27370	537	25	,	,	PUNCT
iiclr-27370	537	26	https://www.cnbc.com/2021/09/28/tesla-ceo-elonmusk-says-us-government-should-avoid-regulating-crypto.html	https://www.cnbc.com/2021/09/28/tesla-ceo-elonmusk-says-us-government-should-avoid-regulating-crypto.html	VERB
iiclr-27370	538	1	[	[	X
iiclr-27370	538	2	https://perma.cc/j5e4-9dkt	https://perma.cc/j5e4-9dkt	X
iiclr-27370	538	3	]	]	X
iiclr-27370	538	4	.	.	PUNCT
iiclr-27370	539	1	243	243	NUM
iiclr-27370	539	2	.	.	PUNCT
iiclr-27370	540	1	i	i	PRON
iiclr-27370	540	2	d.	d.	PROPN
iiclr-27370	540	3	244	244	NUM
iiclr-27370	540	4	.	.	PUNCT
iiclr-27370	541	1	i	i	PRON
iiclr-27370	541	2	d.	d.	PROPN
iiclr-27370	541	3	245	245	NUM
iiclr-27370	541	4	.	.	PUNCT
iiclr-27370	542	1	see	see	VERB
iiclr-27370	542	2	generally	generally	ADV
iiclr-27370	542	3	felix	felix	PROPN
iiclr-27370	542	4	eigelshoven	eigelshoven	ADV
iiclr-27370	542	5	,	,	PUNCT
iiclr-27370	542	6	douglas	douglas	PROPN
iiclr-27370	542	7	perry	perry	PROPN
iiclr-27370	542	8	&	&	CCONJ
iiclr-27370	542	9	andré	andré	PROPN
iiclr-27370	542	10	ullrich	ullrich	PROPN
iiclr-27370	542	11	,	,	PUNCT
iiclr-27370	542	12	cryptocurrency	cryptocurrency	NOUN
iiclr-27370	542	13	market	market	NOUN
iiclr-27370	542	14	manipulation	manipulation	NOUN
iiclr-27370	542	15	:	:	PUNCT
iiclr-27370	542	16	a	a	DET
iiclr-27370	542	17	systematic	systematic	ADJ
iiclr-27370	542	18	literature	literature	NOUN
iiclr-27370	542	19	review	review	NOUN
iiclr-27370	542	20	(	(	PUNCT
iiclr-27370	542	21	international	international	ADJ
iiclr-27370	542	22	conference	conference	NOUN
iiclr-27370	542	23	on	on	ADP
iiclr-27370	542	24	information	information	NOUN
iiclr-27370	542	25	systems	system	NOUN
iiclr-27370	542	26	,	,	PUNCT
iiclr-27370	542	27	2021	2021	NUM
iiclr-27370	542	28	)	)	PUNCT
iiclr-27370	542	29	.	.	PUNCT
iiclr-27370	543	1	246	246	NUM
iiclr-27370	543	2	.	.	PUNCT
iiclr-27370	544	1	i	i	PRON
iiclr-27370	544	2	d.	d.	PROPN
iiclr-27370	544	3	at	at	ADP
iiclr-27370	544	4	1	1	NUM
iiclr-27370	544	5	(	(	PUNCT
iiclr-27370	544	6	asserting	assert	VERB
iiclr-27370	544	7	that	that	SCONJ
iiclr-27370	544	8	in	in	ADP
iiclr-27370	544	9	its	its	PRON
iiclr-27370	544	10	current	current	ADJ
iiclr-27370	544	11	state	state	NOUN
iiclr-27370	544	12	,	,	PUNCT
iiclr-27370	544	13	the	the	DET
iiclr-27370	544	14	cryptocurrency	cryptocurrency	NOUN
iiclr-27370	544	15	market	market	NOUN
iiclr-27370	544	16	is	be	AUX
iiclr-27370	544	17	rife	rife	ADJ
iiclr-27370	544	18	with	with	ADP
iiclr-27370	544	19	manipulative	manipulative	ADJ
iiclr-27370	544	20	schemes	scheme	NOUN
iiclr-27370	544	21	that	that	PRON
iiclr-27370	544	22	often	often	ADV
iiclr-27370	544	23	result	result	VERB
iiclr-27370	544	24	in	in	ADP
iiclr-27370	544	25	a	a	DET
iiclr-27370	544	26	loss	loss	NOUN
iiclr-27370	544	27	of	of	ADP
iiclr-27370	544	28	investor	investor	NOUN
iiclr-27370	544	29	monies	monie	NOUN
iiclr-27370	544	30	)	)	PUNCT
iiclr-27370	544	31	;	;	PUNCT
iiclr-27370	544	32	see	see	VERB
iiclr-27370	544	33	paraskevi	paraskevi	ADJ
iiclr-27370	544	34	katsiampa	katsiampa	NOUN
iiclr-27370	544	35	,	,	PUNCT
iiclr-27370	544	36	2023	2023	NUM
iiclr-27370	544	37	]	]	PUNCT
iiclr-27370	544	38	the	the	DET
iiclr-27370	544	39	wild	wild	ADJ
iiclr-27370	544	40	west	west	NOUN
iiclr-27370	544	41	,	,	PUNCT
iiclr-27370	544	42	cryptocurrency	cryptocurrency	NOUN
iiclr-27370	544	43	,	,	PUNCT
iiclr-27370	544	44	and	and	CCONJ
iiclr-27370	544	45	singapore	singapore	PROPN
iiclr-27370	544	46	219	219	NUM
iiclr-27370	544	47	regulation	regulation	NOUN
iiclr-27370	544	48	could	could	AUX
iiclr-27370	544	49	correct	correct	VERB
iiclr-27370	544	50	this	this	PRON
iiclr-27370	544	51	by	by	ADP
iiclr-27370	544	52	effectively	effectively	ADV
iiclr-27370	544	53	allowing	allow	VERB
iiclr-27370	544	54	the	the	DET
iiclr-27370	544	55	united	united	PROPN
iiclr-27370	544	56	states	states	PROPN
iiclr-27370	544	57	government	government	PROPN
iiclr-27370	544	58	to	to	PART
iiclr-27370	544	59	prevent	prevent	VERB
iiclr-27370	544	60	illegitimate	illegitimate	ADJ
iiclr-27370	544	61	coins	coin	NOUN
iiclr-27370	544	62	from	from	ADP
iiclr-27370	544	63	being	be	AUX
iiclr-27370	544	64	made	make	VERB
iiclr-27370	544	65	available	available	ADJ
iiclr-27370	544	66	to	to	ADP
iiclr-27370	544	67	its	its	PRON
iiclr-27370	544	68	populace.247	populace.247	NOUN
iiclr-27370	544	69	while	while	SCONJ
iiclr-27370	544	70	there	there	PRON
iiclr-27370	544	71	are	be	VERB
iiclr-27370	544	72	thousands	thousand	NOUN
iiclr-27370	544	73	of	of	ADP
iiclr-27370	544	74	cryptocurrencies	cryptocurrencie	NOUN
iiclr-27370	544	75	in	in	ADP
iiclr-27370	544	76	existence	existence	NOUN
iiclr-27370	544	77	,	,	PUNCT
iiclr-27370	544	78	only	only	ADV
iiclr-27370	544	79	some	some	PRON
iiclr-27370	544	80	,	,	PUNCT
iiclr-27370	544	81	such	such	ADJ
iiclr-27370	544	82	as	as	ADP
iiclr-27370	544	83	bitcoin	bitcoin	NOUN
iiclr-27370	544	84	and	and	CCONJ
iiclr-27370	544	85	ethereum	ethereum	NOUN
iiclr-27370	544	86	,	,	PUNCT
iiclr-27370	544	87	are	be	AUX
iiclr-27370	544	88	well	well	ADV
iiclr-27370	544	89	known	know	VERB
iiclr-27370	544	90	and	and	CCONJ
iiclr-27370	544	91	established	establish	VERB
iiclr-27370	544	92	enough	enough	ADV
iiclr-27370	544	93	to	to	PART
iiclr-27370	544	94	give	give	VERB
iiclr-27370	544	95	investors	investor	NOUN
iiclr-27370	544	96	any	any	DET
iiclr-27370	544	97	real	real	ADJ
iiclr-27370	544	98	sense	sense	NOUN
iiclr-27370	544	99	of	of	ADP
iiclr-27370	544	100	security.248	security.248	NOUN
iiclr-27370	544	101	thus	thus	ADV
iiclr-27370	544	102	,	,	PUNCT
iiclr-27370	544	103	regulation	regulation	NOUN
iiclr-27370	544	104	would	would	AUX
iiclr-27370	544	105	especially	especially	ADV
iiclr-27370	544	106	protect	protect	VERB
iiclr-27370	544	107	investors	investor	NOUN
iiclr-27370	544	108	who	who	PRON
iiclr-27370	544	109	choose	choose	VERB
iiclr-27370	544	110	to	to	PART
iiclr-27370	544	111	purchase	purchase	VERB
iiclr-27370	544	112	other	other	ADJ
iiclr-27370	544	113	,	,	PUNCT
iiclr-27370	544	114	lesser	less	ADJ
iiclr-27370	544	115	known	know	VERB
iiclr-27370	544	116	coins	coin	NOUN
iiclr-27370	544	117	by	by	ADP
iiclr-27370	544	118	giving	give	VERB
iiclr-27370	544	119	them	they	PRON
iiclr-27370	544	120	assurances	assurance	NOUN
iiclr-27370	544	121	that	that	SCONJ
iiclr-27370	544	122	governmental	governmental	ADJ
iiclr-27370	544	123	regulatory	regulatory	ADJ
iiclr-27370	544	124	bodies	body	NOUN
iiclr-27370	544	125	control	control	VERB
iiclr-27370	544	126	the	the	DET
iiclr-27370	544	127	market	market	NOUN
iiclr-27370	544	128	and	and	CCONJ
iiclr-27370	544	129	exercise	exercise	VERB
iiclr-27370	544	130	some	some	DET
iiclr-27370	544	131	degree	degree	NOUN
iiclr-27370	544	132	of	of	ADP
iiclr-27370	544	133	control	control	NOUN
iiclr-27370	544	134	over	over	ADP
iiclr-27370	544	135	those	those	DET
iiclr-27370	544	136	coins	coin	NOUN
iiclr-27370	544	137	before	before	ADP
iiclr-27370	544	138	allowing	allow	VERB
iiclr-27370	544	139	them	they	PRON
iiclr-27370	544	140	to	to	PART
iiclr-27370	544	141	be	be	AUX
iiclr-27370	544	142	sold	sell	VERB
iiclr-27370	544	143	on	on	ADP
iiclr-27370	544	144	exchanges.249	exchanges.249	PROPN
iiclr-27370	544	145	similarly	similarly	ADV
iiclr-27370	544	146	,	,	PUNCT
iiclr-27370	544	147	governmental	governmental	ADJ
iiclr-27370	544	148	oversight	oversight	NOUN
iiclr-27370	544	149	would	would	AUX
iiclr-27370	544	150	decrease	decrease	VERB
iiclr-27370	544	151	instances	instance	NOUN
iiclr-27370	544	152	of	of	ADP
iiclr-27370	544	153	fraudulent	fraudulent	PROPN
iiclr-27370	544	154	icos	icos	PROPN
iiclr-27370	544	155	and	and	CCONJ
iiclr-27370	544	156	the	the	DET
iiclr-27370	544	157	use	use	NOUN
iiclr-27370	544	158	of	of	ADP
iiclr-27370	544	159	cryptocurrency	cryptocurrency	NOUN
iiclr-27370	544	160	in	in	ADP
iiclr-27370	544	161	criminal	criminal	ADJ
iiclr-27370	544	162	enterprise.250	enterprise.250	NOUN
iiclr-27370	544	163	essentially	essentially	ADV
iiclr-27370	544	164	,	,	PUNCT
iiclr-27370	544	165	through	through	ADP
iiclr-27370	544	166	regulation	regulation	NOUN
iiclr-27370	544	167	,	,	PUNCT
iiclr-27370	544	168	the	the	DET
iiclr-27370	544	169	government	government	NOUN
iiclr-27370	544	170	would	would	AUX
iiclr-27370	544	171	be	be	AUX
iiclr-27370	544	172	able	able	ADJ
iiclr-27370	544	173	to	to	PART
iiclr-27370	544	174	assure	assure	VERB
iiclr-27370	544	175	the	the	DET
iiclr-27370	544	176	legitimacy	legitimacy	NOUN
iiclr-27370	544	177	of	of	ADP
iiclr-27370	544	178	cryptocurrency	cryptocurrency	NOUN
iiclr-27370	544	179	transactions	transaction	NOUN
iiclr-27370	544	180	and	and	CCONJ
iiclr-27370	544	181	maximize	maximize	VERB
iiclr-27370	544	182	transparency	transparency	NOUN
iiclr-27370	544	183	and	and	CCONJ
iiclr-27370	544	184	safety	safety	NOUN
iiclr-27370	544	185	within	within	ADP
iiclr-27370	544	186	the	the	DET
iiclr-27370	544	187	american	american	ADJ
iiclr-27370	544	188	crypto	crypto	PROPN
iiclr-27370	544	189	industry	industry	NOUN
iiclr-27370	544	190	.	.	PUNCT
iiclr-27370	545	1	cryptocurrency	cryptocurrency	NOUN
iiclr-27370	545	2	regulation	regulation	NOUN
iiclr-27370	545	3	has	have	AUX
iiclr-27370	545	4	been	be	AUX
iiclr-27370	545	5	,	,	PUNCT
iiclr-27370	545	6	and	and	CCONJ
iiclr-27370	545	7	will	will	AUX
iiclr-27370	545	8	continue	continue	VERB
iiclr-27370	545	9	to	to	PART
iiclr-27370	545	10	be	be	AUX
iiclr-27370	545	11	,	,	PUNCT
iiclr-27370	545	12	a	a	DET
iiclr-27370	545	13	pressing	press	VERB
iiclr-27370	545	14	issue	issue	NOUN
iiclr-27370	545	15	not	not	PART
iiclr-27370	545	16	only	only	ADV
iiclr-27370	545	17	for	for	ADP
iiclr-27370	545	18	the	the	DET
iiclr-27370	545	19	american	american	ADJ
iiclr-27370	545	20	government	government	NOUN
iiclr-27370	545	21	,	,	PUNCT
iiclr-27370	545	22	but	but	CCONJ
iiclr-27370	545	23	for	for	ADP
iiclr-27370	545	24	the	the	DET
iiclr-27370	545	25	government	government	NOUN
iiclr-27370	545	26	of	of	ADP
iiclr-27370	545	27	any	any	DET
iiclr-27370	545	28	nation	nation	NOUN
iiclr-27370	545	29	that	that	PRON
iiclr-27370	545	30	has	have	VERB
iiclr-27370	545	31	yet	yet	ADV
iiclr-27370	545	32	to	to	PART
iiclr-27370	545	33	effectively	effectively	ADV
iiclr-27370	545	34	address	address	VERB
iiclr-27370	545	35	it	it	PRON
iiclr-27370	545	36	.	.	PUNCT
iiclr-27370	546	1	the	the	DET
iiclr-27370	546	2	cryptocurrency	cryptocurrency	NOUN
iiclr-27370	546	3	industry	industry	NOUN
iiclr-27370	546	4	as	as	ADP
iiclr-27370	546	5	a	a	DET
iiclr-27370	546	6	whole	whole	NOUN
iiclr-27370	546	7	is	be	AUX
iiclr-27370	546	8	still	still	ADV
iiclr-27370	546	9	in	in	ADP
iiclr-27370	546	10	its	its	PRON
iiclr-27370	546	11	preliminary	preliminary	ADJ
iiclr-27370	546	12	stages	stage	NOUN
iiclr-27370	546	13	.	.	PUNCT
iiclr-27370	547	1	further	far	ADV
iiclr-27370	547	2	,	,	PUNCT
iiclr-27370	547	3	the	the	DET
iiclr-27370	547	4	dawn	dawn	NOUN
iiclr-27370	547	5	of	of	ADP
iiclr-27370	547	6	the	the	DET
iiclr-27370	547	7	metaverse	metaverse	NOUN
iiclr-27370	547	8	is	be	AUX
iiclr-27370	547	9	quickly	quickly	ADV
iiclr-27370	547	10	approaching	approach	VERB
iiclr-27370	547	11	.	.	PUNCT
iiclr-27370	548	1	world	world	NOUN
iiclr-27370	548	2	famous	famous	ADJ
iiclr-27370	548	3	companies	company	NOUN
iiclr-27370	548	4	like	like	ADP
iiclr-27370	548	5	facebook	facebook	PROPN
iiclr-27370	548	6	and	and	CCONJ
iiclr-27370	548	7	nike	nike	PROPN
iiclr-27370	548	8	have	have	AUX
iiclr-27370	548	9	recently	recently	ADV
iiclr-27370	548	10	begun	begin	VERB
iiclr-27370	548	11	to	to	PART
iiclr-27370	548	12	take	take	VERB
iiclr-27370	548	13	measures	measure	NOUN
iiclr-27370	548	14	to	to	PART
iiclr-27370	548	15	enter	enter	VERB
iiclr-27370	548	16	the	the	DET
iiclr-27370	548	17	virtual	virtual	ADJ
iiclr-27370	548	18	world	world	NOUN
iiclr-27370	548	19	,	,	PUNCT
iiclr-27370	548	20	which	which	PRON
iiclr-27370	548	21	is	be	AUX
iiclr-27370	548	22	,	,	PUNCT
iiclr-27370	548	23	and	and	CCONJ
iiclr-27370	548	24	will	will	AUX
iiclr-27370	548	25	continue	continue	VERB
iiclr-27370	548	26	to	to	PART
iiclr-27370	548	27	be	be	AUX
iiclr-27370	548	28	,	,	PUNCT
iiclr-27370	548	29	heavily	heavily	ADV
iiclr-27370	548	30	reliant	reliant	ADJ
iiclr-27370	548	31	on	on	ADP
iiclr-27370	548	32	cryptocurrency.251	cryptocurrency.251	PROPN
iiclr-27370	548	33	in	in	ADP
iiclr-27370	548	34	this	this	DET
iiclr-27370	548	35	global	global	ADJ
iiclr-27370	548	36	business	business	NOUN
iiclr-27370	548	37	climate	climate	NOUN
iiclr-27370	548	38	where	where	SCONJ
iiclr-27370	548	39	digital	digital	ADJ
iiclr-27370	548	40	products	product	NOUN
iiclr-27370	548	41	and	and	CCONJ
iiclr-27370	548	42	currencies	currency	NOUN
iiclr-27370	548	43	are	be	AUX
iiclr-27370	548	44	becoming	become	VERB
iiclr-27370	548	45	ever	ever	ADV
iiclr-27370	548	46	more	more	ADV
iiclr-27370	548	47	important	important	ADJ
iiclr-27370	548	48	,	,	PUNCT
iiclr-27370	548	49	nations	nation	NOUN
iiclr-27370	548	50	that	that	PRON
iiclr-27370	548	51	refuse	refuse	VERB
iiclr-27370	548	52	to	to	PART
iiclr-27370	548	53	acknowledge	acknowledge	VERB
iiclr-27370	548	54	their	their	PRON
iiclr-27370	548	55	importance	importance	NOUN
iiclr-27370	548	56	will	will	AUX
iiclr-27370	548	57	risk	risk	VERB
iiclr-27370	548	58	falling	fall	VERB
iiclr-27370	548	59	behind	behind	ADV
iiclr-27370	548	60	in	in	ADP
iiclr-27370	548	61	the	the	DET
iiclr-27370	548	62	international	international	ADJ
iiclr-27370	548	63	economy.252	economy.252	NOUN
iiclr-27370	548	64	the	the	DET
iiclr-27370	548	65	current	current	ADJ
iiclr-27370	548	66	american	american	ADJ
iiclr-27370	548	67	regulatory	regulatory	ADJ
iiclr-27370	548	68	approach	approach	NOUN
iiclr-27370	548	69	to	to	ADP
iiclr-27370	548	70	cryptocurrency	cryptocurrency	NOUN
iiclr-27370	548	71	lacks	lack	VERB
iiclr-27370	548	72	any	any	DET
iiclr-27370	548	73	real	real	ADJ
iiclr-27370	548	74	teeth	tooth	NOUN
iiclr-27370	548	75	,	,	PUNCT
iiclr-27370	548	76	is	be	AUX
iiclr-27370	548	77	convoluted	convolute	VERB
iiclr-27370	548	78	,	,	PUNCT
iiclr-27370	548	79	does	do	AUX
iiclr-27370	548	80	not	not	PART
iiclr-27370	548	81	preempt	preempt	VERB
iiclr-27370	548	82	states	state	NOUN
iiclr-27370	548	83	,	,	PUNCT
iiclr-27370	548	84	and	and	CCONJ
iiclr-27370	548	85	is	be	AUX
iiclr-27370	548	86	wholly	wholly	ADV
iiclr-27370	548	87	underdeveloped	underdeveloped	ADJ
iiclr-27370	548	88	.	.	PUNCT
iiclr-27370	549	1	in	in	ADP
iiclr-27370	549	2	failing	fail	VERB
iiclr-27370	549	3	to	to	PART
iiclr-27370	549	4	adequately	adequately	ADV
iiclr-27370	549	5	regulate	regulate	VERB
iiclr-27370	549	6	cryptocurrency	cryptocurrency	NOUN
iiclr-27370	549	7	,	,	PUNCT
iiclr-27370	549	8	the	the	DET
iiclr-27370	549	9	united	united	PROPN
iiclr-27370	549	10	states	states	PROPN
iiclr-27370	549	11	has	have	AUX
iiclr-27370	549	12	left	leave	VERB
iiclr-27370	549	13	american	american	ADJ
iiclr-27370	549	14	cryptocurrency	cryptocurrency	NOUN
iiclr-27370	549	15	holders	holder	NOUN
iiclr-27370	549	16	vulnerable	vulnerable	ADJ
iiclr-27370	549	17	to	to	ADP
iiclr-27370	549	18	dangers	danger	NOUN
iiclr-27370	549	19	and	and	CCONJ
iiclr-27370	549	20	allowed	allow	VERB
iiclr-27370	549	21	an	an	DET
iiclr-27370	549	22	avenue	avenue	NOUN
iiclr-27370	549	23	for	for	ADP
iiclr-27370	549	24	crime	crime	NOUN
iiclr-27370	549	25	financing	financing	NOUN
iiclr-27370	549	26	.	.	PUNCT
iiclr-27370	550	1	although	although	SCONJ
iiclr-27370	550	2	cryptocurrency	cryptocurrency	NOUN
iiclr-27370	550	3	is	be	AUX
iiclr-27370	550	4	an	an	DET
iiclr-27370	550	5	asset	asset	NOUN
iiclr-27370	550	6	that	that	PRON
iiclr-27370	550	7	is	be	AUX
iiclr-27370	550	8	still	still	ADV
iiclr-27370	550	9	in	in	ADP
iiclr-27370	550	10	its	its	PRON
iiclr-27370	550	11	infancy	infancy	NOUN
iiclr-27370	550	12	,	,	PUNCT
iiclr-27370	550	13	it	it	PRON
iiclr-27370	550	14	has	have	AUX
iiclr-27370	550	15	garnered	garner	VERB
iiclr-27370	550	16	significant	significant	ADJ
iiclr-27370	550	17	attention	attention	NOUN
iiclr-27370	550	18	in	in	ADP
iiclr-27370	550	19	other	other	ADJ
iiclr-27370	550	20	parts	part	NOUN
iiclr-27370	550	21	of	of	ADP
iiclr-27370	550	22	the	the	DET
iiclr-27370	550	23	world.253	world.253	NOUN
iiclr-27370	550	24	indeed	indeed	ADV
iiclr-27370	550	25	,	,	PUNCT
iiclr-27370	550	26	the	the	DET
iiclr-27370	550	27	mass	mass	PROPN
iiclr-27370	550	28	konstantinos	konstantinos	PROPN
iiclr-27370	550	29	gkillas	gkillas	PROPN
iiclr-27370	550	30	,	,	PUNCT
iiclr-27370	550	31	&	&	CCONJ
iiclr-27370	550	32	francois	francois	PROPN
iiclr-27370	550	33	longin	longin	PROPN
iiclr-27370	550	34	,	,	PUNCT
iiclr-27370	550	35	cryptocurrency	cryptocurrency	NOUN
iiclr-27370	550	36	market	market	NOUN
iiclr-27370	550	37	activity	activity	NOUN
iiclr-27370	550	38	during	during	ADP
iiclr-27370	550	39	extremely	extremely	ADV
iiclr-27370	550	40	volatile	volatile	ADJ
iiclr-27370	550	41	periods	period	NOUN
iiclr-27370	550	42	(	(	PUNCT
iiclr-27370	550	43	2018	2018	NUM
iiclr-27370	550	44	)	)	PUNCT
iiclr-27370	550	45	.	.	PUNCT
iiclr-27370	551	1	247	247	NUM
iiclr-27370	551	2	.	.	PUNCT
iiclr-27370	552	1	see	see	VERB
iiclr-27370	552	2	timothy	timothy	PROPN
iiclr-27370	552	3	g.	g.	PROPN
iiclr-27370	552	4	massad	massad	PROPN
iiclr-27370	552	5	,	,	PUNCT
iiclr-27370	552	6	it	it	PRON
iiclr-27370	552	7	’s	’	VERB
iiclr-27370	552	8	time	time	NOUN
iiclr-27370	552	9	to	to	PART
iiclr-27370	552	10	strengthen	strengthen	VERB
iiclr-27370	552	11	the	the	DET
iiclr-27370	552	12	regulation	regulation	NOUN
iiclr-27370	552	13	of	of	ADP
iiclr-27370	552	14	crypto	crypto	NOUN
iiclr-27370	552	15	-	-	NOUN
iiclr-27370	552	16	assets	asset	NOUN
iiclr-27370	552	17	,	,	PUNCT
iiclr-27370	552	18	econ	econ	PROPN
iiclr-27370	552	19	.	.	PUNCT
iiclr-27370	552	20	stud	stud	PROPN
iiclr-27370	552	21	.	.	PUNCT
iiclr-27370	553	1	at	at	ADP
iiclr-27370	553	2	brookings	brookings	PROPN
iiclr-27370	553	3	2	2	NUM
iiclr-27370	553	4	(	(	PUNCT
iiclr-27370	553	5	2019	2019	NUM
iiclr-27370	553	6	)	)	PUNCT
iiclr-27370	553	7	.	.	PUNCT
iiclr-27370	554	1	248	248	NUM
iiclr-27370	554	2	.	.	PUNCT
iiclr-27370	555	1	why	why	SCONJ
iiclr-27370	555	2	cryptocurrencies	cryptocurrencie	NOUN
iiclr-27370	555	3	need	need	VERB
iiclr-27370	555	4	to	to	PART
iiclr-27370	555	5	be	be	AUX
iiclr-27370	555	6	regulated	regulate	VERB
iiclr-27370	555	7	?	?	PUNCT
iiclr-27370	556	1	here	here	ADV
iiclr-27370	556	2	are	be	AUX
iiclr-27370	556	3	5	5	NUM
iiclr-27370	556	4	reasons	reason	NOUN
iiclr-27370	556	5	,	,	PUNCT
iiclr-27370	556	6	ndtv	ndtv	PROPN
iiclr-27370	556	7	(	(	PUNCT
iiclr-27370	556	8	dec	dec	PROPN
iiclr-27370	556	9	.	.	PROPN
iiclr-27370	556	10	6	6	NUM
iiclr-27370	556	11	,	,	PUNCT
iiclr-27370	556	12	2021	2021	NUM
iiclr-27370	556	13	,	,	PUNCT
iiclr-27370	556	14	4:38	4:38	NUM
iiclr-27370	556	15	pm	pm	NOUN
iiclr-27370	556	16	)	)	PUNCT
iiclr-27370	556	17	,	,	PUNCT
iiclr-27370	556	18	https://www.ndtv.com/business/5-reasons-why-cryptocurrency-regulation-is-important2637741	https://www.ndtv.com/business/5-reasons-why-cryptocurrency-regulation-is-important2637741	VERB
iiclr-27370	556	19	[	[	X
iiclr-27370	556	20	https://perma.cc/54hn-bve4	https://perma.cc/54hn-bve4	NOUN
iiclr-27370	556	21	]	]	X
iiclr-27370	556	22	.	.	PUNCT
iiclr-27370	557	1	249	249	NUM
iiclr-27370	557	2	.	.	PUNCT
iiclr-27370	558	1	i	i	PRON
iiclr-27370	558	2	d.	d.	PROPN
iiclr-27370	558	3	250	250	NUM
iiclr-27370	558	4	.	.	PUNCT
iiclr-27370	559	1	see	see	VERB
iiclr-27370	559	2	massad	massad	ADJ
iiclr-27370	559	3	,	,	PUNCT
iiclr-27370	559	4	supra	supra	PROPN
iiclr-27370	559	5	note	note	PROPN
iiclr-27370	559	6	247	247	NUM
iiclr-27370	559	7	,	,	PUNCT
iiclr-27370	559	8	at	at	ADP
iiclr-27370	559	9	3	3	NUM
iiclr-27370	559	10	.	.	NOUN
iiclr-27370	559	11	251	251	NUM
iiclr-27370	559	12	.	.	PUNCT
iiclr-27370	560	1	kimberlee	kimberlee	PROPN
iiclr-27370	560	2	speakman	speakman	PROPN
iiclr-27370	560	3	,	,	PUNCT
iiclr-27370	560	4	virtual	virtual	ADJ
iiclr-27370	560	5	nikes	nike	NOUN
iiclr-27370	560	6	:	:	PUNCT
iiclr-27370	560	7	shoe	shoe	PROPN
iiclr-27370	560	8	giant	giant	NOUN
iiclr-27370	560	9	follows	follow	VERB
iiclr-27370	560	10	facebook	facebook	NOUN
iiclr-27370	560	11	into	into	ADP
iiclr-27370	560	12	the	the	DET
iiclr-27370	560	13	metaverse	metaverse	NOUN
iiclr-27370	560	14	,	,	PUNCT
iiclr-27370	560	15	forbes	forbes	X
iiclr-27370	560	16	(	(	PUNCT
iiclr-27370	560	17	nov	nov	PROPN
iiclr-27370	560	18	.	.	PROPN
iiclr-27370	560	19	2	2	NUM
iiclr-27370	560	20	,	,	PUNCT
iiclr-27370	560	21	2021	2021	NUM
iiclr-27370	560	22	,	,	PUNCT
iiclr-27370	560	23	3:38	3:38	NUM
iiclr-27370	560	24	pm	pm	NOUN
iiclr-27370	560	25	)	)	PUNCT
iiclr-27370	560	26	https://www.forbes.com/sites/kimberleespeakman/2021/11/02/	https://www.forbes.com/sites/kimberleespeakman/2021/11/02/	PROPN
iiclr-27370	560	27	virtual	virtual	ADJ
iiclr-27370	560	28	-	-	PUNCT
iiclr-27370	560	29	nikes	nike	NOUN
iiclr-27370	560	30	-	-	PUNCT
iiclr-27370	560	31	shoe	shoe	NOUN
iiclr-27370	560	32	-	-	PUNCT
iiclr-27370	560	33	giant	giant	NOUN
iiclr-27370	560	34	-	-	PUNCT
iiclr-27370	560	35	follows	follow	VERB
iiclr-27370	560	36	-	-	PUNCT
iiclr-27370	560	37	facebook	facebook	NOUN
iiclr-27370	560	38	-	-	PUNCT
iiclr-27370	560	39	in	in	NOUN
iiclr-27370	560	40	to	to	ADP
iiclr-27370	560	41	-	-	PUNCT
iiclr-27370	560	42	the	the	DET
iiclr-27370	560	43	-	-	PUNCT
iiclr-27370	560	44	metaverse/?sh=3e7b34b04819	metaverse/?sh=3e7b34b04819	NOUN
iiclr-27370	560	45	[	[	X
iiclr-27370	560	46	https://perma.cc/n8as-zuxp	https://perma.cc/n8as-zuxp	NOUN
iiclr-27370	560	47	]	]	PUNCT
iiclr-27370	560	48	.	.	PUNCT
iiclr-27370	561	1	252	252	NUM
iiclr-27370	561	2	.	.	PUNCT
iiclr-27370	562	1	coinbase	coinbase	PROPN
iiclr-27370	562	2	,	,	PUNCT
iiclr-27370	562	3	supra	supra	PROPN
iiclr-27370	562	4	note	note	NOUN
iiclr-27370	562	5	151	151	NUM
iiclr-27370	562	6	.	.	NOUN
iiclr-27370	562	7	253	253	NUM
iiclr-27370	562	8	.	.	PUNCT
iiclr-27370	562	9	see	see	VERB
iiclr-27370	562	10	chaitra	chaitra	PROPN
iiclr-27370	562	11	anand	anand	PROPN
iiclr-27370	562	12	,	,	PUNCT
iiclr-27370	562	13	global	global	ADJ
iiclr-27370	562	14	crypto	crypto	NOUN
iiclr-27370	562	15	awareness	awareness	NOUN
iiclr-27370	562	16	:	:	PUNCT
iiclr-27370	562	17	singapore	singapore	NOUN
iiclr-27370	562	18	beats	beat	VERB
iiclr-27370	562	19	canada	canada	PROPN
iiclr-27370	562	20	and	and	CCONJ
iiclr-27370	562	21	hong	hong	PROPN
iiclr-27370	562	22	kong	kong	PROPN
iiclr-27370	562	23	,	,	PUNCT
iiclr-27370	562	24	yahoo	yahoo	PROPN
iiclr-27370	562	25	finance	finance	PROPN
iiclr-27370	562	26	(	(	PUNCT
iiclr-27370	562	27	oct	oct	PROPN
iiclr-27370	562	28	.	.	PROPN
iiclr-27370	562	29	14	14	NUM
iiclr-27370	562	30	,	,	PUNCT
iiclr-27370	562	31	2021	2021	NUM
iiclr-27370	562	32	)	)	PUNCT
iiclr-27370	562	33	,	,	PUNCT
iiclr-27370	562	34	https://finance.yahoo.com/news/singapore-beats-canada-hk-in220	https://finance.yahoo.com/news/singapore-beats-canada-hk-in220	PROPN
iiclr-27370	562	35	indiana	indiana	PROPN
iiclr-27370	562	36	int’l	int’l	NUM
iiclr-27370	562	37	&	&	CCONJ
iiclr-27370	562	38	comp	comp	PROPN
iiclr-27370	562	39	.	.	PUNCT
iiclr-27370	563	1	law	law	NOUN
iiclr-27370	563	2	review	review	NOUN
iiclr-27370	563	3	[	[	X
iiclr-27370	563	4	vol	vol	NOUN
iiclr-27370	563	5	.	.	PUNCT
iiclr-27370	564	1	33:191	33:191	NUM
iiclr-27370	564	2	adoption	adoption	NOUN
iiclr-27370	564	3	of	of	ADP
iiclr-27370	564	4	cryptocurrency	cryptocurrency	NOUN
iiclr-27370	564	5	appears	appear	VERB
iiclr-27370	564	6	imminent.254	imminent.254	NOUN
iiclr-27370	564	7	if	if	SCONJ
iiclr-27370	564	8	the	the	DET
iiclr-27370	564	9	united	united	PROPN
iiclr-27370	564	10	states	states	PROPN
iiclr-27370	564	11	fails	fail	VERB
iiclr-27370	564	12	to	to	PART
iiclr-27370	564	13	take	take	VERB
iiclr-27370	564	14	regulatory	regulatory	ADJ
iiclr-27370	564	15	action	action	NOUN
iiclr-27370	564	16	,	,	PUNCT
iiclr-27370	564	17	it	it	PRON
iiclr-27370	564	18	risks	risk	VERB
iiclr-27370	564	19	falling	fall	VERB
iiclr-27370	564	20	behind	behind	ADV
iiclr-27370	564	21	in	in	ADP
iiclr-27370	564	22	the	the	DET
iiclr-27370	564	23	global	global	ADJ
iiclr-27370	564	24	financial	financial	ADJ
iiclr-27370	564	25	scheme	scheme	NOUN
iiclr-27370	564	26	and	and	CCONJ
iiclr-27370	564	27	missing	miss	VERB
iiclr-27370	564	28	out	out	ADP
iiclr-27370	564	29	on	on	ADP
iiclr-27370	564	30	being	be	AUX
iiclr-27370	564	31	an	an	DET
iiclr-27370	564	32	early	early	ADJ
iiclr-27370	564	33	adopter	adopter	NOUN
iiclr-27370	564	34	of	of	ADP
iiclr-27370	564	35	crypto	crypto	NOUN
iiclr-27370	564	36	assets	asset	NOUN
iiclr-27370	564	37	that	that	PRON
iiclr-27370	564	38	seem	seem	VERB
iiclr-27370	564	39	poised	poise	VERB
iiclr-27370	564	40	to	to	PART
iiclr-27370	564	41	grow	grow	VERB
iiclr-27370	564	42	exponentially	exponentially	ADV
iiclr-27370	564	43	not	not	PART
iiclr-27370	564	44	only	only	ADV
iiclr-27370	564	45	in	in	ADP
iiclr-27370	564	46	value	value	NOUN
iiclr-27370	564	47	,	,	PUNCT
iiclr-27370	564	48	but	but	CCONJ
iiclr-27370	564	49	in	in	ADP
iiclr-27370	564	50	use	use	NOUN
iiclr-27370	564	51	and	and	CCONJ
iiclr-27370	564	52	utility	utility	NOUN
iiclr-27370	564	53	as	as	ADP
iiclr-27370	564	54	well.255	well.255	NOUN
iiclr-27370	564	55	singapore	singapore	PROPN
iiclr-27370	564	56	,	,	PUNCT
iiclr-27370	564	57	on	on	ADP
iiclr-27370	564	58	the	the	DET
iiclr-27370	564	59	other	other	ADJ
iiclr-27370	564	60	hand	hand	NOUN
iiclr-27370	564	61	,	,	PUNCT
iiclr-27370	564	62	has	have	AUX
iiclr-27370	564	63	established	establish	VERB
iiclr-27370	564	64	an	an	DET
iiclr-27370	564	65	effective	effective	ADJ
iiclr-27370	564	66	regulatory	regulatory	ADJ
iiclr-27370	564	67	scheme	scheme	NOUN
iiclr-27370	564	68	by	by	ADP
iiclr-27370	564	69	classifying	classify	VERB
iiclr-27370	564	70	cryptocurrency	cryptocurrency	NOUN
iiclr-27370	564	71	as	as	ADP
iiclr-27370	564	72	property	property	NOUN
iiclr-27370	564	73	.	.	PUNCT
iiclr-27370	565	1	in	in	ADP
iiclr-27370	565	2	doing	do	VERB
iiclr-27370	565	3	so	so	ADV
iiclr-27370	565	4	,	,	PUNCT
iiclr-27370	565	5	it	it	PRON
iiclr-27370	565	6	has	have	AUX
iiclr-27370	565	7	implemented	implement	VERB
iiclr-27370	565	8	a	a	DET
iiclr-27370	565	9	variety	variety	NOUN
iiclr-27370	565	10	of	of	ADP
iiclr-27370	565	11	licensure	licensure	NOUN
iiclr-27370	565	12	requirements	requirement	NOUN
iiclr-27370	565	13	,	,	PUNCT
iiclr-27370	565	14	customer	customer	NOUN
iiclr-27370	565	15	protection	protection	NOUN
iiclr-27370	565	16	measures	measure	NOUN
iiclr-27370	565	17	,	,	PUNCT
iiclr-27370	565	18	and	and	CCONJ
iiclr-27370	565	19	crime	crime	NOUN
iiclr-27370	565	20	prevention	prevention	NOUN
iiclr-27370	565	21	measures	measure	NOUN
iiclr-27370	565	22	that	that	PRON
iiclr-27370	565	23	allow	allow	VERB
iiclr-27370	565	24	safe	safe	ADJ
iiclr-27370	565	25	use	use	NOUN
iiclr-27370	565	26	and	and	CCONJ
iiclr-27370	565	27	growth	growth	NOUN
iiclr-27370	565	28	of	of	ADP
iiclr-27370	565	29	the	the	DET
iiclr-27370	565	30	cryptocurrency	cryptocurrency	NOUN
iiclr-27370	565	31	industry	industry	NOUN
iiclr-27370	565	32	within	within	ADP
iiclr-27370	565	33	the	the	DET
iiclr-27370	565	34	country	country	NOUN
iiclr-27370	565	35	.	.	PUNCT
iiclr-27370	566	1	since	since	SCONJ
iiclr-27370	566	2	implementing	implement	VERB
iiclr-27370	566	3	cryptocurrency	cryptocurrency	NOUN
iiclr-27370	566	4	regulation	regulation	NOUN
iiclr-27370	566	5	,	,	PUNCT
iiclr-27370	566	6	singapore	singapore	PROPN
iiclr-27370	566	7	has	have	AUX
iiclr-27370	566	8	quickly	quickly	ADV
iiclr-27370	566	9	attracted	attract	VERB
iiclr-27370	566	10	the	the	DET
iiclr-27370	566	11	attention	attention	NOUN
iiclr-27370	566	12	of	of	ADP
iiclr-27370	566	13	the	the	DET
iiclr-27370	566	14	cryptocurrency	cryptocurrency	NOUN
iiclr-27370	566	15	and	and	CCONJ
iiclr-27370	566	16	financial	financial	ADJ
iiclr-27370	566	17	technology	technology	NOUN
iiclr-27370	566	18	world.256	world.256	PROPN
iiclr-27370	566	19	singapore	singapore	PROPN
iiclr-27370	566	20	has	have	AUX
iiclr-27370	566	21	consistently	consistently	ADV
iiclr-27370	566	22	been	be	AUX
iiclr-27370	566	23	ranked	rank	VERB
iiclr-27370	566	24	highly	highly	ADV
iiclr-27370	566	25	amongst	amongst	ADP
iiclr-27370	566	26	the	the	DET
iiclr-27370	566	27	top	top	ADJ
iiclr-27370	566	28	cryptocurrency	cryptocurrency	NOUN
iiclr-27370	566	29	regulators	regulator	NOUN
iiclr-27370	566	30	in	in	ADP
iiclr-27370	566	31	the	the	DET
iiclr-27370	566	32	world.257	world.257	NOUN
iiclr-27370	566	33	in	in	ADP
iiclr-27370	566	34	fact	fact	NOUN
iiclr-27370	566	35	,	,	PUNCT
iiclr-27370	566	36	43	43	NUM
iiclr-27370	566	37	%	%	NOUN
iiclr-27370	566	38	of	of	ADP
iiclr-27370	566	39	singaporeans	singaporeans	PROPN
iiclr-27370	566	40	own	own	VERB
iiclr-27370	566	41	cryptocurrency	cryptocurrency	NOUN
iiclr-27370	566	42	,	,	PUNCT
iiclr-27370	566	43	whereas	whereas	SCONJ
iiclr-27370	566	44	the	the	DET
iiclr-27370	566	45	average	average	ADJ
iiclr-27370	566	46	nation	nation	NOUN
iiclr-27370	566	47	has	have	VERB
iiclr-27370	566	48	a	a	DET
iiclr-27370	566	49	cryptocurrency	cryptocurrency	NOUN
iiclr-27370	566	50	ownership	ownership	NOUN
iiclr-27370	566	51	rate	rate	NOUN
iiclr-27370	566	52	of	of	ADP
iiclr-27370	566	53	only	only	ADV
iiclr-27370	566	54	15.4%.258	15.4%.258	NUM
iiclr-27370	566	55	indeed	indeed	ADV
iiclr-27370	566	56	,	,	PUNCT
iiclr-27370	566	57	singaporean	singaporean	ADJ
iiclr-27370	566	58	citizens	citizen	NOUN
iiclr-27370	566	59	have	have	AUX
iiclr-27370	566	60	taken	take	VERB
iiclr-27370	566	61	advantage	advantage	NOUN
iiclr-27370	566	62	of	of	ADP
iiclr-27370	566	63	consumer	consumer	NOUN
iiclr-27370	566	64	-	-	PUNCT
iiclr-27370	566	65	friendly	friendly	ADJ
iiclr-27370	566	66	crypto	crypto	NOUN
iiclr-27370	566	67	regulations	regulation	NOUN
iiclr-27370	566	68	,	,	PUNCT
iiclr-27370	566	69	as	as	SCONJ
iiclr-27370	566	70	is	be	AUX
iiclr-27370	566	71	evidenced	evidence	VERB
iiclr-27370	566	72	by	by	ADP
iiclr-27370	566	73	the	the	DET
iiclr-27370	566	74	fact	fact	NOUN
iiclr-27370	566	75	that	that	SCONJ
iiclr-27370	566	76	the	the	DET
iiclr-27370	566	77	singaporean	singaporean	ADJ
iiclr-27370	566	78	cryptocurrency	cryptocurrency	NOUN
iiclr-27370	566	79	ownership	ownership	NOUN
iiclr-27370	566	80	rate	rate	NOUN
iiclr-27370	566	81	is	be	AUX
iiclr-27370	566	82	nearly	nearly	ADV
iiclr-27370	566	83	three	three	NUM
iiclr-27370	566	84	times	time	NOUN
iiclr-27370	566	85	higher	high	ADJ
iiclr-27370	566	86	than	than	ADP
iiclr-27370	566	87	that	that	PRON
iiclr-27370	566	88	of	of	ADP
iiclr-27370	566	89	average	average	ADJ
iiclr-27370	566	90	nation.259	nation.259	NOUN
iiclr-27370	566	91	however	however	ADV
iiclr-27370	566	92	,	,	PUNCT
iiclr-27370	566	93	the	the	DET
iiclr-27370	566	94	interest	interest	NOUN
iiclr-27370	566	95	in	in	ADP
iiclr-27370	566	96	the	the	DET
iiclr-27370	566	97	singaporean	singaporean	ADJ
iiclr-27370	566	98	crypto	crypto	NOUN
iiclr-27370	566	99	market	market	NOUN
iiclr-27370	566	100	has	have	AUX
iiclr-27370	566	101	not	not	PART
iiclr-27370	566	102	been	be	AUX
iiclr-27370	566	103	confined	confine	VERB
iiclr-27370	566	104	to	to	ADP
iiclr-27370	566	105	its	its	PRON
iiclr-27370	566	106	citizens	citizen	NOUN
iiclr-27370	566	107	—	—	PUNCT
iiclr-27370	566	108	cryptocurrency	cryptocurrency	NOUN
iiclr-27370	566	109	exchanges	exchange	NOUN
iiclr-27370	566	110	,	,	PUNCT
iiclr-27370	566	111	too	too	ADV
iiclr-27370	566	112	,	,	PUNCT
iiclr-27370	566	113	have	have	AUX
iiclr-27370	566	114	taken	take	VERB
iiclr-27370	566	115	an	an	DET
iiclr-27370	566	116	interest	interest	NOUN
iiclr-27370	566	117	in	in	ADP
iiclr-27370	566	118	singapore	singapore	PROPN
iiclr-27370	566	119	due	due	ADP
iiclr-27370	566	120	to	to	ADP
iiclr-27370	566	121	their	their	PRON
iiclr-27370	566	122	regulatory	regulatory	ADJ
iiclr-27370	566	123	scheme.260	scheme.260	NOUN
iiclr-27370	566	124	in	in	ADP
iiclr-27370	566	125	2020	2020	NUM
iiclr-27370	566	126	alone	alone	ADV
iiclr-27370	566	127	,	,	PUNCT
iiclr-27370	566	128	170	170	NUM
iiclr-27370	566	129	exchanges	exchange	NOUN
iiclr-27370	566	130	applied	apply	VERB
iiclr-27370	566	131	for	for	SCONJ
iiclr-27370	566	132	mas	mas	PROPN
iiclr-27370	566	133	licensure	licensure	NOUN
iiclr-27370	566	134	to	to	PART
iiclr-27370	566	135	operate	operate	VERB
iiclr-27370	566	136	in	in	ADP
iiclr-27370	566	137	singapore.261	singapore.261	NOUN
iiclr-27370	566	138	however	however	ADV
iiclr-27370	566	139	,	,	PUNCT
iiclr-27370	566	140	the	the	DET
iiclr-27370	566	141	city	city	NOUN
iiclr-27370	566	142	-	-	PUNCT
iiclr-27370	566	143	state	state	NOUN
iiclr-27370	566	144	exercised	exercise	VERB
iiclr-27370	566	145	its	its	PRON
iiclr-27370	566	146	selective	selective	ADJ
iiclr-27370	566	147	authority	authority	NOUN
iiclr-27370	566	148	in	in	ADP
iiclr-27370	566	149	electing	elect	VERB
iiclr-27370	566	150	to	to	PART
iiclr-27370	566	151	grant	grant	VERB
iiclr-27370	566	152	licensure	licensure	NOUN
iiclr-27370	566	153	to	to	ADP
iiclr-27370	566	154	only	only	ADV
iiclr-27370	566	155	three	three	NUM
iiclr-27370	566	156	of	of	ADP
iiclr-27370	566	157	these	these	DET
iiclr-27370	566	158	applicants.262	applicants.262	PROPN
iiclr-27370	566	159	in	in	ADP
iiclr-27370	566	160	doing	do	VERB
iiclr-27370	566	161	so	so	ADV
iiclr-27370	566	162	,	,	PUNCT
iiclr-27370	566	163	singapore	singapore	PROPN
iiclr-27370	566	164	shed	shed	VERB
iiclr-27370	566	165	some	some	DET
iiclr-27370	566	166	light	light	NOUN
iiclr-27370	566	167	on	on	ADP
iiclr-27370	566	168	its	its	PRON
iiclr-27370	566	169	approach	approach	NOUN
iiclr-27370	566	170	to	to	ADP
iiclr-27370	566	171	its	its	PRON
iiclr-27370	566	172	crypto	crypto	NOUN
iiclr-27370	566	173	economy	economy	NOUN
iiclr-27370	566	174	,	,	PUNCT
iiclr-27370	566	175	which	which	PRON
iiclr-27370	566	176	is	be	AUX
iiclr-27370	566	177	best	well	ADV
iiclr-27370	566	178	illustrated	illustrate	VERB
iiclr-27370	566	179	by	by	ADP
iiclr-27370	566	180	a	a	DET
iiclr-27370	566	181	quote	quote	NOUN
iiclr-27370	566	182	from	from	ADP
iiclr-27370	566	183	ravi	ravi	PROPN
iiclr-27370	566	184	menon	menon	PROPN
iiclr-27370	566	185	,	,	PUNCT
iiclr-27370	566	186	the	the	DET
iiclr-27370	566	187	managing	manage	VERB
iiclr-27370	566	188	director	director	NOUN
iiclr-27370	566	189	of	of	ADP
iiclr-27370	566	190	the	the	DET
iiclr-27370	566	191	mas	mas	PROPN
iiclr-27370	566	192	,	,	PUNCT
iiclr-27370	566	193	who	who	PRON
iiclr-27370	566	194	stated	state	VERB
iiclr-27370	566	195	,	,	PUNCT
iiclr-27370	566	196	“	"	PUNCT
iiclr-27370	566	197	we	we	PRON
iiclr-27370	566	198	do	do	AUX
iiclr-27370	566	199	n’t	not	PART
iiclr-27370	566	200	need	need	VERB
iiclr-27370	566	201	160	160	NUM
iiclr-27370	566	202	the-global-crypto-awareness-race-062700267.html	the-global-crypto-awareness-race-062700267.html	NOUN
iiclr-27370	567	1	[	[	X
iiclr-27370	567	2	https://perma.cc/7532-bbkw	https://perma.cc/7532-bbkw	X
iiclr-27370	567	3	]	]	X
iiclr-27370	567	4	.	.	PUNCT
iiclr-27370	568	1	254	254	NUM
iiclr-27370	568	2	.	.	PUNCT
iiclr-27370	569	1	alex	alex	PROPN
iiclr-27370	569	2	sirois	sirois	PROPN
iiclr-27370	569	3	,	,	PUNCT
iiclr-27370	569	4	7	7	NUM
iiclr-27370	569	5	most	most	ADV
iiclr-27370	569	6	crypto	crypto	ADJ
iiclr-27370	569	7	-	-	ADJ
iiclr-27370	569	8	friendly	friendly	ADJ
iiclr-27370	569	9	countries	country	NOUN
iiclr-27370	569	10	for	for	ADP
iiclr-27370	569	11	bitcoin	bitcoin	NOUN
iiclr-27370	569	12	investors	investor	NOUN
iiclr-27370	569	13	,	,	PUNCT
iiclr-27370	569	14	nasdaq	nasdaq	PROPN
iiclr-27370	569	15	(	(	PUNCT
iiclr-27370	569	16	june	june	PROPN
iiclr-27370	569	17	30	30	NUM
iiclr-27370	569	18	,	,	PUNCT
iiclr-27370	569	19	2021	2021	NUM
iiclr-27370	569	20	,	,	PUNCT
iiclr-27370	569	21	12:09	12:09	NUM
iiclr-27370	569	22	pm	pm	NOUN
iiclr-27370	569	23	)	)	PUNCT
iiclr-27370	569	24	,	,	PUNCT
iiclr-27370	569	25	https://www.nasdaq.com/articles/7-most-crypto-friendly-countries-for-bitcoininvestors-2021-06-30	https://www.nasdaq.com/articles/7-most-crypto-friendly-countries-for-bitcoininvestors-2021-06-30	PUNCT
iiclr-27370	570	1	[	[	X
iiclr-27370	570	2	https://perma.cc/6uv8-3wuv	https://perma.cc/6uv8-3wuv	X
iiclr-27370	570	3	]	]	PUNCT
iiclr-27370	570	4	.	.	PUNCT
iiclr-27370	571	1	255	255	NUM
iiclr-27370	571	2	.	.	PUNCT
iiclr-27370	572	1	it	it	PRON
iiclr-27370	572	2	’s	’	VERB
iiclr-27370	572	3	time	time	NOUN
iiclr-27370	572	4	to	to	PART
iiclr-27370	572	5	regulate	regulate	VERB
iiclr-27370	572	6	cryptocurrency	cryptocurrency	NOUN
iiclr-27370	572	7	—	—	PUNCT
iiclr-27370	572	8	here	here	ADV
iiclr-27370	572	9	’s	’	VERB
iiclr-27370	572	10	what	what	PRON
iiclr-27370	572	11	’s	’s	AUX
iiclr-27370	572	12	brewing	brew	VERB
iiclr-27370	572	13	,	,	PUNCT
iiclr-27370	572	14	a.b.a	a.b.a	ADJ
iiclr-27370	572	15	.	.	PROPN
iiclr-27370	572	16	,	,	PUNCT
iiclr-27370	572	17	(	(	PUNCT
iiclr-27370	572	18	aug	aug	PROPN
iiclr-27370	572	19	.	.	PROPN
iiclr-27370	572	20	16	16	NUM
iiclr-27370	572	21	,	,	PUNCT
iiclr-27370	572	22	2021	2021	NUM
iiclr-27370	572	23	)	)	PUNCT
iiclr-27370	572	24	,	,	PUNCT
iiclr-27370	572	25	https://www.americanbar.org/news/abanews/aba-news-archives/2021/08/it-s-time-to-regulatecryptocurrency---here-s-what-s-brewing/	https://www.americanbar.org/news/abanews/aba-news-archives/2021/08/it-s-time-to-regulatecryptocurrency---here-s-what-s-brewing/	VERB
iiclr-27370	572	26	[	[	X
iiclr-27370	572	27	https://perma.cc/ghv3-sjs6	https://perma.cc/ghv3-sjs6	X
iiclr-27370	572	28	]	]	X
iiclr-27370	572	29	(	(	PUNCT
iiclr-27370	572	30	asserting	assert	VERB
iiclr-27370	572	31	that	that	SCONJ
iiclr-27370	572	32	the	the	DET
iiclr-27370	572	33	united	united	PROPN
iiclr-27370	572	34	states	states	PROPN
iiclr-27370	572	35	“	"	PUNCT
iiclr-27370	572	36	lags	lag	VERB
iiclr-27370	572	37	sorely	sorely	ADV
iiclr-27370	572	38	behind	behind	ADP
iiclr-27370	572	39	its	its	PRON
iiclr-27370	572	40	peers	peer	NOUN
iiclr-27370	572	41	”	"	PUNCT
iiclr-27370	572	42	and	and	CCONJ
iiclr-27370	572	43	is	be	AUX
iiclr-27370	572	44	“	"	PUNCT
iiclr-27370	572	45	losing	lose	VERB
iiclr-27370	572	46	‘	'	PUNCT
iiclr-27370	572	47	amazing	amazing	ADJ
iiclr-27370	572	48	,	,	PUNCT
iiclr-27370	572	49	innovative	innovative	ADJ
iiclr-27370	572	50	’	'	PUNCT
iiclr-27370	572	51	companies	company	NOUN
iiclr-27370	572	52	to	to	ADP
iiclr-27370	572	53	other	other	ADJ
iiclr-27370	572	54	countries	country	NOUN
iiclr-27370	572	55	that	that	PRON
iiclr-27370	572	56	offer	offer	VERB
iiclr-27370	572	57	etfs	etfs	PROPN
iiclr-27370	572	58	and	and	CCONJ
iiclr-27370	572	59	have	have	VERB
iiclr-27370	572	60	clearer	clear	ADJ
iiclr-27370	572	61	regulations	regulation	NOUN
iiclr-27370	572	62	”	"	PUNCT
iiclr-27370	572	63	)	)	PUNCT
iiclr-27370	572	64	.	.	PUNCT
iiclr-27370	573	1	256	256	NUM
iiclr-27370	573	2	.	.	X
iiclr-27370	573	3	ozelli	ozelli	PROPN
iiclr-27370	573	4	,	,	PUNCT
iiclr-27370	573	5	supra	supra	PROPN
iiclr-27370	573	6	note	note	VERB
iiclr-27370	573	7	180	180	NUM
iiclr-27370	573	8	.	.	NOUN
iiclr-27370	573	9	257	257	NUM
iiclr-27370	573	10	.	.	PUNCT
iiclr-27370	574	1	anand	anand	PROPN
iiclr-27370	574	2	,	,	PUNCT
iiclr-27370	574	3	supra	supra	PROPN
iiclr-27370	574	4	note	note	PROPN
iiclr-27370	574	5	253	253	NUM
iiclr-27370	574	6	;	;	PUNCT
iiclr-27370	574	7	sirois	sirois	NOUN
iiclr-27370	574	8	,	,	PUNCT
iiclr-27370	574	9	supra	supra	PROPN
iiclr-27370	574	10	note	note	PROPN
iiclr-27370	574	11	254	254	NUM
iiclr-27370	574	12	.	.	X
iiclr-27370	574	13	258	258	NUM
iiclr-27370	574	14	.	.	PUNCT
iiclr-27370	575	1	ozelli	ozelli	PROPN
iiclr-27370	575	2	,	,	PUNCT
iiclr-27370	575	3	supra	supra	PROPN
iiclr-27370	575	4	note	note	VERB
iiclr-27370	575	5	180	180	NUM
iiclr-27370	575	6	.	.	PUNCT
iiclr-27370	576	1	259	259	NUM
iiclr-27370	576	2	.	.	PUNCT
iiclr-27370	577	1	this	this	PRON
iiclr-27370	577	2	is	be	AUX
iiclr-27370	577	3	an	an	DET
iiclr-27370	577	4	approximated	approximated	ADJ
iiclr-27370	577	5	number	number	NOUN
iiclr-27370	577	6	,	,	PUNCT
iiclr-27370	577	7	as	as	SCONJ
iiclr-27370	577	8	approximately	approximately	ADV
iiclr-27370	577	9	43	43	NUM
iiclr-27370	577	10	%	%	NOUN
iiclr-27370	577	11	of	of	ADP
iiclr-27370	577	12	singaporean	singaporean	ADJ
iiclr-27370	577	13	citizens	citizen	NOUN
iiclr-27370	577	14	own	own	VERB
iiclr-27370	577	15	cryptocurrency	cryptocurrency	NOUN
iiclr-27370	577	16	,	,	PUNCT
iiclr-27370	577	17	while	while	SCONJ
iiclr-27370	577	18	the	the	DET
iiclr-27370	577	19	global	global	ADJ
iiclr-27370	577	20	average	average	ADJ
iiclr-27370	577	21	cryptocurrency	cryptocurrency	NOUN
iiclr-27370	577	22	ownership	ownership	NOUN
iiclr-27370	577	23	within	within	ADP
iiclr-27370	577	24	a	a	DET
iiclr-27370	577	25	single	single	ADJ
iiclr-27370	577	26	nation	nation	NOUN
iiclr-27370	577	27	is	be	AUX
iiclr-27370	577	28	15.4	15.4	NUM
iiclr-27370	577	29	%	%	NOUN
iiclr-27370	577	30	.	.	PUNCT
iiclr-27370	578	1	see	see	VERB
iiclr-27370	578	2	ozelli	ozelli	PROPN
iiclr-27370	578	3	,	,	PUNCT
iiclr-27370	578	4	supra	supra	PROPN
iiclr-27370	578	5	note	note	PROPN
iiclr-27370	578	6	180	180	NUM
iiclr-27370	578	7	.	.	NOUN
iiclr-27370	578	8	260	260	NUM
iiclr-27370	578	9	.	.	PUNCT
iiclr-27370	579	1	chanyaporn	chanyaporn	ADJ
iiclr-27370	579	2	chanjaroen	chanjaroen	ADJ
iiclr-27370	579	3	,	,	PUNCT
iiclr-27370	579	4	coinbase	coinbase	VERB
iiclr-27370	579	5	and	and	CCONJ
iiclr-27370	579	6	binance	binance	NOUN
iiclr-27370	579	7	among	among	ADP
iiclr-27370	579	8	70	70	NUM
iiclr-27370	579	9	seeking	seek	VERB
iiclr-27370	579	10	singapore	singapore	NOUN
iiclr-27370	579	11	and	and	CCONJ
iiclr-27370	579	12	crypto	crypto	NOUN
iiclr-27370	579	13	permits	permit	NOUN
iiclr-27370	579	14	,	,	PUNCT
iiclr-27370	579	15	bloomberg	bloomberg	PROPN
iiclr-27370	579	16	(	(	PUNCT
iiclr-27370	579	17	nov	nov	PROPN
iiclr-27370	579	18	.	.	PROPN
iiclr-27370	579	19	11	11	NUM
iiclr-27370	579	20	,	,	PUNCT
iiclr-27370	579	21	2021	2021	NUM
iiclr-27370	579	22	,	,	PUNCT
iiclr-27370	579	23	2:24	2:24	NUM
iiclr-27370	579	24	am	am	NOUN
iiclr-27370	579	25	)	)	PUNCT
iiclr-27370	579	26	,	,	PUNCT
iiclr-27370	579	27	https://www.bloomberg.com/news/articles/202111-11/coinbase-and-binance-among-70-seeking-singapore-crypto-permits	https://www.bloomberg.com/news/articles/202111-11/coinbase-and-binance-among-70-seeking-singapore-crypto-permit	NOUN
iiclr-27370	579	28	[	[	X
iiclr-27370	579	29	https://perma.cc/cwb9ncsy	https://perma.cc/cwb9ncsy	X
iiclr-27370	579	30	]	]	X
iiclr-27370	579	31	.	.	PUNCT
iiclr-27370	580	1	261	261	NUM
iiclr-27370	580	2	.	.	PUNCT
iiclr-27370	581	1	i	i	PRON
iiclr-27370	581	2	d.	d.	PROPN
iiclr-27370	581	3	262	262	NUM
iiclr-27370	581	4	.	.	PUNCT
iiclr-27370	582	1	i	i	PRON
iiclr-27370	582	2	d.	d.	PROPN
iiclr-27370	582	3	2023	2023	NUM
iiclr-27370	582	4	]	]	PUNCT
iiclr-27370	582	5	the	the	DET
iiclr-27370	582	6	wild	wild	ADJ
iiclr-27370	582	7	west	west	NOUN
iiclr-27370	582	8	,	,	PUNCT
iiclr-27370	582	9	cryptocurrency	cryptocurrency	NOUN
iiclr-27370	582	10	,	,	PUNCT
iiclr-27370	582	11	and	and	CCONJ
iiclr-27370	582	12	singapore	singapore	NOUN
iiclr-27370	582	13	221	221	NUM
iiclr-27370	582	14	[	[	X
iiclr-27370	582	15	exchanges	exchange	NOUN
iiclr-27370	582	16	]	]	PUNCT
iiclr-27370	582	17	to	to	PART
iiclr-27370	582	18	set	set	VERB
iiclr-27370	582	19	up	up	ADP
iiclr-27370	582	20	shop	shop	NOUN
iiclr-27370	582	21	in	in	ADP
iiclr-27370	582	22	singapore	singapore	PROPN
iiclr-27370	582	23	.	.	PUNCT
iiclr-27370	583	1	half	half	NOUN
iiclr-27370	583	2	of	of	ADP
iiclr-27370	583	3	them	they	PRON
iiclr-27370	583	4	can	can	AUX
iiclr-27370	583	5	do	do	VERB
iiclr-27370	583	6	so	so	ADV
iiclr-27370	583	7	,	,	PUNCT
iiclr-27370	583	8	but	but	CCONJ
iiclr-27370	583	9	with	with	ADP
iiclr-27370	583	10	very	very	ADV
iiclr-27370	583	11	high	high	ADJ
iiclr-27370	583	12	standards	standard	NOUN
iiclr-27370	583	13	,	,	PUNCT
iiclr-27370	583	14	that	that	SCONJ
iiclr-27370	583	15	i	i	PRON
iiclr-27370	583	16	think	think	VERB
iiclr-27370	583	17	is	be	AUX
iiclr-27370	583	18	a	a	DET
iiclr-27370	583	19	better	well	ADJ
iiclr-27370	583	20	outcome	outcome	NOUN
iiclr-27370	583	21	.	.	PUNCT
iiclr-27370	584	1	”263	”263	PUNCT
iiclr-27370	584	2	exchanges	exchange	NOUN
iiclr-27370	584	3	also	also	ADV
iiclr-27370	584	4	reap	reap	VERB
iiclr-27370	584	5	the	the	DET
iiclr-27370	584	6	benefits	benefit	NOUN
iiclr-27370	584	7	from	from	ADP
iiclr-27370	584	8	this	this	DET
iiclr-27370	584	9	singaporean	singaporean	ADJ
iiclr-27370	584	10	framework	framework	NOUN
iiclr-27370	584	11	.	.	PUNCT
iiclr-27370	585	1	dbs	dbs	PROPN
iiclr-27370	585	2	digital	digital	PROPN
iiclr-27370	585	3	exchange	exchange	PROPN
iiclr-27370	585	4	,	,	PUNCT
iiclr-27370	585	5	a	a	DET
iiclr-27370	585	6	cryptocurrency	cryptocurrency	NOUN
iiclr-27370	585	7	platform	platform	NOUN
iiclr-27370	585	8	,	,	PUNCT
iiclr-27370	585	9	was	be	AUX
iiclr-27370	585	10	granted	grant	VERB
iiclr-27370	585	11	licensure	licensure	NOUN
iiclr-27370	585	12	to	to	PART
iiclr-27370	585	13	operate	operate	VERB
iiclr-27370	585	14	in	in	ADP
iiclr-27370	585	15	singapore	singapore	PROPN
iiclr-27370	585	16	in	in	ADP
iiclr-27370	585	17	august	august	PROPN
iiclr-27370	585	18	of	of	ADP
iiclr-27370	585	19	2021	2021	NUM
iiclr-27370	585	20	,	,	PUNCT
iiclr-27370	585	21	and	and	CCONJ
iiclr-27370	585	22	in	in	ADP
iiclr-27370	585	23	the	the	DET
iiclr-27370	585	24	subsequent	subsequent	ADJ
iiclr-27370	585	25	two	two	NUM
iiclr-27370	585	26	months	month	NOUN
iiclr-27370	585	27	surpassed	surpass	VERB
iiclr-27370	585	28	its	its	PRON
iiclr-27370	585	29	combined	combine	VERB
iiclr-27370	585	30	trading	trading	NOUN
iiclr-27370	585	31	volume	volume	NOUN
iiclr-27370	585	32	for	for	ADP
iiclr-27370	585	33	the	the	DET
iiclr-27370	585	34	previous	previous	ADJ
iiclr-27370	585	35	eight	eight	NUM
iiclr-27370	585	36	months	month	NOUN
iiclr-27370	585	37	by	by	ADP
iiclr-27370	585	38	forty	forty	NUM
iiclr-27370	585	39	percent.264	percent.264	NOUN
iiclr-27370	585	40	indeed	indeed	ADV
iiclr-27370	585	41	,	,	PUNCT
iiclr-27370	585	42	singapore	singapore	PROPN
iiclr-27370	585	43	’s	’s	PART
iiclr-27370	585	44	goal	goal	NOUN
iiclr-27370	585	45	of	of	ADP
iiclr-27370	585	46	striking	strike	VERB
iiclr-27370	585	47	a	a	DET
iiclr-27370	585	48	balance	balance	NOUN
iiclr-27370	585	49	between	between	ADP
iiclr-27370	585	50	making	make	VERB
iiclr-27370	585	51	itself	itself	PRON
iiclr-27370	585	52	attractive	attractive	ADJ
iiclr-27370	585	53	to	to	ADP
iiclr-27370	585	54	cryptocurrency	cryptocurrency	NOUN
iiclr-27370	585	55	firms	firm	NOUN
iiclr-27370	585	56	and	and	CCONJ
iiclr-27370	585	57	maintaining	maintain	VERB
iiclr-27370	585	58	strict	strict	ADJ
iiclr-27370	585	59	regulatory	regulatory	ADJ
iiclr-27370	585	60	measures	measure	NOUN
iiclr-27370	585	61	to	to	PART
iiclr-27370	585	62	protect	protect	VERB
iiclr-27370	585	63	its	its	PRON
iiclr-27370	585	64	citizens	citizen	NOUN
iiclr-27370	585	65	has	have	AUX
iiclr-27370	585	66	been	be	AUX
iiclr-27370	585	67	wholly	wholly	ADV
iiclr-27370	585	68	successful	successful	ADJ
iiclr-27370	585	69	and	and	CCONJ
iiclr-27370	585	70	thus	thus	ADV
iiclr-27370	585	71	,	,	PUNCT
iiclr-27370	585	72	has	have	AUX
iiclr-27370	585	73	lent	lend	VERB
iiclr-27370	585	74	itself	itself	PRON
iiclr-27370	585	75	to	to	ADP
iiclr-27370	585	76	singapore	singapore	PROPN
iiclr-27370	585	77	becoming	becoming	AUX
iiclr-27370	585	78	known	know	VERB
iiclr-27370	585	79	as	as	ADP
iiclr-27370	585	80	a	a	DET
iiclr-27370	585	81	crypto	crypto	NOUN
iiclr-27370	585	82	haven	haven	NOUN
iiclr-27370	585	83	.	.	PUNCT
iiclr-27370	586	1	the	the	DET
iiclr-27370	586	2	united	united	PROPN
iiclr-27370	586	3	states	states	PROPN
iiclr-27370	586	4	should	should	AUX
iiclr-27370	586	5	look	look	VERB
iiclr-27370	586	6	to	to	ADP
iiclr-27370	586	7	singapore	singapore	NOUN
iiclr-27370	586	8	for	for	ADP
iiclr-27370	586	9	guidance	guidance	NOUN
iiclr-27370	586	10	in	in	ADP
iiclr-27370	586	11	regulating	regulate	VERB
iiclr-27370	586	12	cryptocurrency	cryptocurrency	NOUN
iiclr-27370	586	13	.	.	PUNCT
iiclr-27370	587	1	in	in	ADP
iiclr-27370	587	2	doing	do	VERB
iiclr-27370	587	3	so	so	ADV
iiclr-27370	587	4	,	,	PUNCT
iiclr-27370	587	5	the	the	DET
iiclr-27370	587	6	united	united	PROPN
iiclr-27370	587	7	states	states	PROPN
iiclr-27370	587	8	needs	need	VERB
iiclr-27370	587	9	to	to	PART
iiclr-27370	587	10	follow	follow	VERB
iiclr-27370	587	11	singapore	singapore	PROPN
iiclr-27370	587	12	’s	’s	PART
iiclr-27370	587	13	lead	lead	NOUN
iiclr-27370	587	14	in	in	ADP
iiclr-27370	587	15	establishing	establish	VERB
iiclr-27370	587	16	a	a	DET
iiclr-27370	587	17	clear	clear	ADJ
iiclr-27370	587	18	regulatory	regulatory	ADJ
iiclr-27370	587	19	scheme	scheme	NOUN
iiclr-27370	587	20	.	.	PUNCT
iiclr-27370	588	1	first	first	ADV
iiclr-27370	588	2	,	,	PUNCT
iiclr-27370	588	3	the	the	DET
iiclr-27370	588	4	states	state	NOUN
iiclr-27370	588	5	should	should	AUX
iiclr-27370	588	6	be	be	AUX
iiclr-27370	588	7	preempted	preempt	VERB
iiclr-27370	588	8	from	from	ADP
iiclr-27370	588	9	regulating	regulate	VERB
iiclr-27370	588	10	crypto	crypto	ADJ
iiclr-27370	588	11	assets	asset	NOUN
iiclr-27370	588	12	.	.	PUNCT
iiclr-27370	589	1	next	next	ADV
iiclr-27370	589	2	,	,	PUNCT
iiclr-27370	589	3	in	in	ADP
iiclr-27370	589	4	order	order	NOUN
iiclr-27370	589	5	to	to	PART
iiclr-27370	589	6	eliminate	eliminate	VERB
iiclr-27370	589	7	confusion	confusion	NOUN
iiclr-27370	589	8	and	and	CCONJ
iiclr-27370	589	9	create	create	VERB
iiclr-27370	589	10	a	a	DET
iiclr-27370	589	11	streamlined	streamlined	ADJ
iiclr-27370	589	12	regulatory	regulatory	ADJ
iiclr-27370	589	13	process	process	NOUN
iiclr-27370	589	14	,	,	PUNCT
iiclr-27370	589	15	it	it	PRON
iiclr-27370	589	16	must	must	AUX
iiclr-27370	589	17	be	be	AUX
iiclr-27370	589	18	made	make	VERB
iiclr-27370	589	19	clear	clear	ADJ
iiclr-27370	589	20	that	that	SCONJ
iiclr-27370	589	21	only	only	ADV
iiclr-27370	589	22	one	one	NUM
iiclr-27370	589	23	governing	govern	VERB
iiclr-27370	589	24	body	body	NOUN
iiclr-27370	589	25	may	may	AUX
iiclr-27370	589	26	regulate	regulate	VERB
iiclr-27370	589	27	cryptocurrency	cryptocurrency	NOUN
iiclr-27370	589	28	,	,	PUNCT
iiclr-27370	589	29	just	just	ADV
iiclr-27370	589	30	as	as	SCONJ
iiclr-27370	589	31	singapore	singapore	PROPN
iiclr-27370	589	32	has	have	AUX
iiclr-27370	589	33	done	do	VERB
iiclr-27370	589	34	with	with	ADP
iiclr-27370	589	35	the	the	DET
iiclr-27370	589	36	mas	mas	PROPN
iiclr-27370	589	37	.	.	PROPN
iiclr-27370	590	1	some	some	PRON
iiclr-27370	590	2	have	have	AUX
iiclr-27370	590	3	suggested	suggest	VERB
iiclr-27370	590	4	that	that	SCONJ
iiclr-27370	590	5	the	the	DET
iiclr-27370	590	6	united	united	PROPN
iiclr-27370	590	7	states	states	PROPN
iiclr-27370	590	8	create	create	VERB
iiclr-27370	590	9	a	a	DET
iiclr-27370	590	10	new	new	ADJ
iiclr-27370	590	11	agency	agency	NOUN
iiclr-27370	590	12	tasked	task	VERB
iiclr-27370	590	13	with	with	ADP
iiclr-27370	590	14	the	the	DET
iiclr-27370	590	15	sole	sole	ADJ
iiclr-27370	590	16	purpose	purpose	NOUN
iiclr-27370	590	17	of	of	ADP
iiclr-27370	590	18	regulating	regulate	VERB
iiclr-27370	590	19	cryptocurrency.265	cryptocurrency.265	VERB
iiclr-27370	590	20	this	this	DET
iiclr-27370	590	21	suggestion	suggestion	NOUN
iiclr-27370	590	22	,	,	PUNCT
iiclr-27370	590	23	though	though	ADV
iiclr-27370	590	24	,	,	PUNCT
iiclr-27370	590	25	seems	seem	VERB
iiclr-27370	590	26	a	a	DET
iiclr-27370	590	27	little	little	ADJ
iiclr-27370	590	28	far	far	ADV
iiclr-27370	590	29	-	-	PUNCT
iiclr-27370	590	30	fetched	fetch	VERB
iiclr-27370	590	31	and	and	CCONJ
iiclr-27370	590	32	unlikely	unlikely	ADJ
iiclr-27370	590	33	.	.	PUNCT
iiclr-27370	591	1	outside	outside	ADP
iiclr-27370	591	2	of	of	ADP
iiclr-27370	591	3	an	an	DET
iiclr-27370	591	4	entirely	entirely	ADV
iiclr-27370	591	5	new	new	ADJ
iiclr-27370	591	6	agency	agency	NOUN
iiclr-27370	591	7	,	,	PUNCT
iiclr-27370	591	8	the	the	DET
iiclr-27370	591	9	best	good	ADJ
iiclr-27370	591	10	candidate	candidate	NOUN
iiclr-27370	591	11	for	for	ADP
iiclr-27370	591	12	this	this	DET
iiclr-27370	591	13	role	role	NOUN
iiclr-27370	591	14	is	be	AUX
iiclr-27370	591	15	the	the	DET
iiclr-27370	591	16	sec	sec	PROPN
iiclr-27370	591	17	,	,	PUNCT
iiclr-27370	591	18	which	which	PRON
iiclr-27370	591	19	presently	presently	ADV
iiclr-27370	591	20	seems	seem	VERB
iiclr-27370	591	21	to	to	PART
iiclr-27370	591	22	be	be	AUX
iiclr-27370	591	23	the	the	DET
iiclr-27370	591	24	strongest	strong	ADJ
iiclr-27370	591	25	regulator	regulator	NOUN
iiclr-27370	591	26	of	of	ADP
iiclr-27370	591	27	cryptocurrencies.266	cryptocurrencies.266	NOUN
iiclr-27370	591	28	ultimately	ultimately	ADV
iiclr-27370	591	29	,	,	PUNCT
iiclr-27370	591	30	however	however	ADV
iiclr-27370	591	31	,	,	PUNCT
iiclr-27370	591	32	it	it	PRON
iiclr-27370	591	33	is	be	AUX
iiclr-27370	591	34	of	of	ADP
iiclr-27370	591	35	no	no	DET
iiclr-27370	591	36	consequence	consequence	NOUN
iiclr-27370	591	37	which	which	DET
iiclr-27370	591	38	agency	agency	NOUN
iiclr-27370	591	39	regulates	regulate	VERB
iiclr-27370	591	40	crypto	crypto	NOUN
iiclr-27370	591	41	,	,	PUNCT
iiclr-27370	591	42	as	as	ADV
iiclr-27370	591	43	long	long	ADV
iiclr-27370	591	44	as	as	SCONJ
iiclr-27370	591	45	there	there	PRON
iiclr-27370	591	46	is	be	VERB
iiclr-27370	591	47	only	only	ADV
iiclr-27370	591	48	one	one	NUM
iiclr-27370	591	49	,	,	PUNCT
iiclr-27370	591	50	authoritative	authoritative	ADJ
iiclr-27370	591	51	regulating	regulating	NOUN
iiclr-27370	591	52	body	body	NOUN
iiclr-27370	591	53	.	.	PUNCT
iiclr-27370	592	1	next	next	ADV
iiclr-27370	592	2	,	,	PUNCT
iiclr-27370	592	3	the	the	DET
iiclr-27370	592	4	united	united	PROPN
iiclr-27370	592	5	states	states	PROPN
iiclr-27370	592	6	should	should	AUX
iiclr-27370	592	7	pass	pass	VERB
iiclr-27370	592	8	legislation	legislation	NOUN
iiclr-27370	592	9	,	,	PUNCT
iiclr-27370	592	10	similar	similar	ADJ
iiclr-27370	592	11	to	to	ADP
iiclr-27370	592	12	that	that	PRON
iiclr-27370	592	13	of	of	ADP
iiclr-27370	592	14	singapore	singapore	PROPN
iiclr-27370	592	15	’s	’s	PART
iiclr-27370	592	16	,	,	PUNCT
iiclr-27370	592	17	to	to	PART
iiclr-27370	592	18	assure	assure	VERB
iiclr-27370	592	19	the	the	DET
iiclr-27370	592	20	safety	safety	NOUN
iiclr-27370	592	21	and	and	CCONJ
iiclr-27370	592	22	legitimacy	legitimacy	NOUN
iiclr-27370	592	23	of	of	ADP
iiclr-27370	592	24	cryptocurrency	cryptocurrency	NOUN
iiclr-27370	592	25	.	.	PUNCT
iiclr-27370	593	1	specifically	specifically	ADV
iiclr-27370	593	2	,	,	PUNCT
iiclr-27370	593	3	the	the	DET
iiclr-27370	593	4	united	united	PROPN
iiclr-27370	593	5	states	states	PROPN
iiclr-27370	593	6	should	should	AUX
iiclr-27370	593	7	adopt	adopt	VERB
iiclr-27370	593	8	licensure	licensure	NOUN
iiclr-27370	593	9	requirements	requirement	NOUN
iiclr-27370	593	10	,	,	PUNCT
iiclr-27370	593	11	similar	similar	ADJ
iiclr-27370	593	12	to	to	ADP
iiclr-27370	593	13	those	those	PRON
iiclr-27370	593	14	of	of	ADP
iiclr-27370	593	15	the	the	DET
iiclr-27370	593	16	psa	psa	NOUN
iiclr-27370	593	17	and	and	CCONJ
iiclr-27370	593	18	the	the	DET
iiclr-27370	593	19	sfa	sfa	PROPN
iiclr-27370	593	20	.	.	PUNCT
iiclr-27370	594	1	the	the	DET
iiclr-27370	594	2	goal	goal	NOUN
iiclr-27370	594	3	of	of	ADP
iiclr-27370	594	4	this	this	DET
iiclr-27370	594	5	licensure	licensure	NOUN
iiclr-27370	594	6	,	,	PUNCT
iiclr-27370	594	7	like	like	ADP
iiclr-27370	594	8	that	that	PRON
iiclr-27370	594	9	of	of	ADP
iiclr-27370	594	10	singapore	singapore	PROPN
iiclr-27370	594	11	’s	’s	PART
iiclr-27370	594	12	,	,	PUNCT
iiclr-27370	594	13	should	should	AUX
iiclr-27370	594	14	be	be	AUX
iiclr-27370	594	15	to	to	PART
iiclr-27370	594	16	establish	establish	VERB
iiclr-27370	594	17	clear	clear	ADJ
iiclr-27370	594	18	,	,	PUNCT
iiclr-27370	594	19	authoritative	authoritative	ADJ
iiclr-27370	594	20	,	,	PUNCT
iiclr-27370	594	21	easy	easy	ADJ
iiclr-27370	594	22	to	to	PART
iiclr-27370	594	23	follow	follow	VERB
iiclr-27370	594	24	rules	rule	NOUN
iiclr-27370	594	25	that	that	PRON
iiclr-27370	594	26	require	require	VERB
iiclr-27370	594	27	transparency	transparency	NOUN
iiclr-27370	594	28	and	and	CCONJ
iiclr-27370	594	29	customer	customer	NOUN
iiclr-27370	594	30	protection	protection	NOUN
iiclr-27370	594	31	for	for	ADP
iiclr-27370	594	32	a	a	DET
iiclr-27370	594	33	nation	nation	NOUN
iiclr-27370	594	34	that	that	PRON
iiclr-27370	594	35	is	be	AUX
iiclr-27370	594	36	becoming	become	VERB
iiclr-27370	594	37	increasingly	increasingly	ADV
iiclr-27370	594	38	interested	interested	ADJ
iiclr-27370	594	39	in	in	ADP
iiclr-27370	594	40	cryptocurrencies.267	cryptocurrencies.267	PROPN
iiclr-27370	594	41	further	far	ADV
iiclr-27370	594	42	,	,	PUNCT
iiclr-27370	594	43	the	the	DET
iiclr-27370	594	44	united	united	PROPN
iiclr-27370	594	45	states	states	PROPN
iiclr-27370	594	46	must	must	AUX
iiclr-27370	594	47	implement	implement	VERB
iiclr-27370	594	48	clear	clear	ADJ
iiclr-27370	594	49	,	,	PUNCT
iiclr-27370	594	50	authoritative	authoritative	ADJ
iiclr-27370	594	51	crime	crime	NOUN
iiclr-27370	594	52	prevention	prevention	NOUN
iiclr-27370	594	53	measures	measure	NOUN
iiclr-27370	594	54	.	.	PUNCT
iiclr-27370	595	1	due	due	ADP
iiclr-27370	595	2	to	to	ADP
iiclr-27370	595	3	its	its	PRON
iiclr-27370	595	4	unique	unique	ADJ
iiclr-27370	595	5	and	and	CCONJ
iiclr-27370	595	6	decentralized	decentralized	ADJ
iiclr-27370	595	7	nature	nature	NOUN
iiclr-27370	595	8	,	,	PUNCT
iiclr-27370	595	9	cryptocurrency	cryptocurrency	NOUN
iiclr-27370	595	10	lends	lend	VERB
iiclr-27370	595	11	itself	itself	PRON
iiclr-27370	595	12	to	to	ADP
iiclr-27370	595	13	being	be	AUX
iiclr-27370	595	14	used	use	VERB
iiclr-27370	595	15	for	for	ADP
iiclr-27370	595	16	crime	crime	NOUN
iiclr-27370	595	17	and	and	CCONJ
iiclr-27370	595	18	thus	thus	ADV
iiclr-27370	595	19	requires	require	VERB
iiclr-27370	595	20	separate	separate	ADJ
iiclr-27370	595	21	guidance	guidance	NOUN
iiclr-27370	595	22	as	as	SCONJ
iiclr-27370	595	23	it	it	PRON
iiclr-27370	595	24	relates	relate	VERB
iiclr-27370	595	25	to	to	ADP
iiclr-27370	595	26	the	the	DET
iiclr-27370	595	27	criminal	criminal	ADJ
iiclr-27370	595	28	realm	realm	NOUN
iiclr-27370	595	29	.	.	PUNCT
iiclr-27370	596	1	it	it	PRON
iiclr-27370	596	2	follows	follow	VERB
iiclr-27370	596	3	that	that	SCONJ
iiclr-27370	596	4	the	the	DET
iiclr-27370	596	5	united	united	PROPN
iiclr-27370	596	6	states	states	PROPN
iiclr-27370	596	7	must	must	AUX
iiclr-27370	596	8	issue	issue	VERB
iiclr-27370	596	9	special	special	ADJ
iiclr-27370	596	10	regulations	regulation	NOUN
iiclr-27370	596	11	,	,	PUNCT
iiclr-27370	596	12	similar	similar	ADJ
iiclr-27370	596	13	to	to	ADP
iiclr-27370	596	14	singapore	singapore	PROPN
iiclr-27370	596	15	’s	’s	PART
iiclr-27370	596	16	psn02	psn02	NOUN
iiclr-27370	596	17	,	,	PUNCT
iiclr-27370	596	18	and	and	CCONJ
iiclr-27370	596	19	impose	impose	VERB
iiclr-27370	596	20	reporting	reporting	NOUN
iiclr-27370	596	21	,	,	PUNCT
iiclr-27370	596	22	263	263	NUM
iiclr-27370	596	23	.	.	PUNCT
iiclr-27370	597	1	i	i	PRON
iiclr-27370	597	2	d.	d.	PROPN
iiclr-27370	597	3	264	264	NUM
iiclr-27370	597	4	.	.	PUNCT
iiclr-27370	598	1	i	i	PRON
iiclr-27370	598	2	d.	d.	PROPN
iiclr-27370	598	3	265	265	NUM
iiclr-27370	598	4	.	.	PUNCT
iiclr-27370	599	1	feiner	feiner	PROPN
iiclr-27370	599	2	,	,	PUNCT
iiclr-27370	599	3	supra	supra	PROPN
iiclr-27370	599	4	note	note	PROPN
iiclr-27370	599	5	150	150	NUM
iiclr-27370	599	6	.	.	PUNCT
iiclr-27370	599	7	266	266	NUM
iiclr-27370	599	8	.	.	PUNCT
iiclr-27370	600	1	stephen	stephen	PROPN
iiclr-27370	600	2	j.	j.	PROPN
iiclr-27370	600	3	obie	obie	PROPN
iiclr-27370	600	4	&	&	CCONJ
iiclr-27370	600	5	mark	mark	PROPN
iiclr-27370	600	6	w.	w.	PROPN
iiclr-27370	600	7	rasmussen	rasmussen	PROPN
iiclr-27370	600	8	,	,	PUNCT
iiclr-27370	600	9	how	how	SCONJ
iiclr-27370	600	10	regulation	regulation	NOUN
iiclr-27370	600	11	could	could	AUX
iiclr-27370	600	12	help	help	VERB
iiclr-27370	600	13	cryptocurrencies	cryptocurrencie	NOUN
iiclr-27370	600	14	grow	grow	VERB
iiclr-27370	600	15	,	,	PUNCT
iiclr-27370	600	16	harv	harv	NOUN
iiclr-27370	600	17	.	.	PUNCT
iiclr-27370	601	1	bus	bus	NOUN
iiclr-27370	601	2	.	.	PUNCT
iiclr-27370	602	1	rev	rev	PROPN
iiclr-27370	602	2	.	.	PUNCT
iiclr-27370	603	1	(	(	PUNCT
iiclr-27370	603	2	july	july	PROPN
iiclr-27370	603	3	17	17	NUM
iiclr-27370	603	4	,	,	PUNCT
iiclr-27370	603	5	2018	2018	NUM
iiclr-27370	603	6	)	)	PUNCT
iiclr-27370	603	7	,	,	PUNCT
iiclr-27370	603	8	https://hbr.org/2018/07/how-regulation-could-helpcryptocurrencies-grow	https://hbr.org/2018/07/how-regulation-could-helpcryptocurrencies-grow	X
iiclr-27370	603	9	[	[	X
iiclr-27370	603	10	https://perma.cc/y97r-9q9e	https://perma.cc/y97r-9q9e	X
iiclr-27370	603	11	]	]	X
iiclr-27370	603	12	(	(	PUNCT
iiclr-27370	603	13	suggesting	suggest	VERB
iiclr-27370	603	14	that	that	SCONJ
iiclr-27370	603	15	the	the	DET
iiclr-27370	603	16	sec	sec	PROPN
iiclr-27370	603	17	regulate	regulate	NOUN
iiclr-27370	603	18	cryptocurrency	cryptocurrency	NOUN
iiclr-27370	603	19	in	in	ADP
iiclr-27370	603	20	order	order	NOUN
iiclr-27370	603	21	to	to	PART
iiclr-27370	603	22	clear	clear	VERB
iiclr-27370	603	23	the	the	DET
iiclr-27370	603	24	confusion	confusion	NOUN
iiclr-27370	603	25	caused	cause	VERB
iiclr-27370	603	26	by	by	ADP
iiclr-27370	603	27	the	the	DET
iiclr-27370	603	28	overlapping	overlapping	NOUN
iiclr-27370	603	29	of	of	ADP
iiclr-27370	603	30	various	various	ADJ
iiclr-27370	603	31	federal	federal	ADJ
iiclr-27370	603	32	regulatory	regulatory	ADJ
iiclr-27370	603	33	schemes	scheme	NOUN
iiclr-27370	603	34	)	)	PUNCT
iiclr-27370	603	35	;	;	PUNCT
iiclr-27370	603	36	minor	minor	ADJ
iiclr-27370	603	37	,	,	PUNCT
iiclr-27370	603	38	supra	supra	ADJ
iiclr-27370	603	39	note	note	NOUN
iiclr-27370	603	40	40	40	NUM
iiclr-27370	603	41	,	,	PUNCT
iiclr-27370	603	42	at	at	ADP
iiclr-27370	603	43	1177	1177	NUM
iiclr-27370	603	44	.	.	PUNCT
iiclr-27370	604	1	267	267	NUM
iiclr-27370	604	2	.	.	PUNCT
iiclr-27370	604	3	ryan	ryan	PROPN
iiclr-27370	604	4	haar	haar	PROPN
iiclr-27370	604	5	,	,	PUNCT
iiclr-27370	604	6	the	the	DET
iiclr-27370	604	7	future	future	NOUN
iiclr-27370	604	8	of	of	ADP
iiclr-27370	604	9	cryptocurrency	cryptocurrency	NOUN
iiclr-27370	604	10	:	:	PUNCT
iiclr-27370	604	11	5	5	NUM
iiclr-27370	604	12	experts	expert	NOUN
iiclr-27370	604	13	’	’	PART
iiclr-27370	604	14	predictions	prediction	NOUN
iiclr-27370	604	15	after	after	ADP
iiclr-27370	604	16	a	a	DET
iiclr-27370	604	17	‘	'	PUNCT
iiclr-27370	604	18	breakthrough	breakthrough	ADJ
iiclr-27370	604	19	’	'	PUNCT
iiclr-27370	604	20	2021	2021	NUM
iiclr-27370	604	21	,	,	PUNCT
iiclr-27370	604	22	time	time	NOUN
iiclr-27370	604	23	(	(	PUNCT
iiclr-27370	604	24	oct	oct	PROPN
iiclr-27370	604	25	.	.	PROPN
iiclr-27370	604	26	31	31	NUM
iiclr-27370	604	27	,	,	PUNCT
iiclr-27370	604	28	2022	2022	NUM
iiclr-27370	604	29	)	)	PUNCT
iiclr-27370	604	30	,	,	PUNCT
iiclr-27370	604	31	https://time.com/nextadvisor/investing/cryptocurrency/future-ofcryptocurrency/	https://time.com/nextadvisor/investing/cryptocurrency/future-ofcryptocurrency/	PROPN
iiclr-27370	605	1	[	[	X
iiclr-27370	605	2	https://perma.cc/7cyg-yvby	https://perma.cc/7cyg-yvby	X
iiclr-27370	605	3	]	]	PUNCT
iiclr-27370	605	4	.	.	PUNCT
iiclr-27370	606	1	222	222	NUM
iiclr-27370	606	2	indiana	indiana	PROPN
iiclr-27370	606	3	int’l	int’l	NUM
iiclr-27370	606	4	&	&	CCONJ
iiclr-27370	606	5	comp	comp	PROPN
iiclr-27370	606	6	.	.	PUNCT
iiclr-27370	607	1	law	law	NOUN
iiclr-27370	607	2	review	review	NOUN
iiclr-27370	608	1	[	[	X
iiclr-27370	608	2	vol	vol	NOUN
iiclr-27370	608	3	.	.	PUNCT
iiclr-27370	608	4	33:191	33:191	NUM
iiclr-27370	608	5	monitoring	monitoring	NOUN
iiclr-27370	608	6	,	,	PUNCT
iiclr-27370	608	7	and	and	CCONJ
iiclr-27370	608	8	kyc	kyc	PROPN
iiclr-27370	608	9	requirements	requirement	NOUN
iiclr-27370	608	10	on	on	ADP
iiclr-27370	608	11	exchanges	exchange	NOUN
iiclr-27370	608	12	to	to	PART
iiclr-27370	608	13	prohibit	prohibit	VERB
iiclr-27370	608	14	and	and	CCONJ
iiclr-27370	608	15	prevent	prevent	VERB
iiclr-27370	608	16	the	the	DET
iiclr-27370	608	17	use	use	NOUN
iiclr-27370	608	18	of	of	ADP
iiclr-27370	608	19	cryptocurrency	cryptocurrency	NOUN
iiclr-27370	608	20	for	for	ADP
iiclr-27370	608	21	the	the	DET
iiclr-27370	608	22	funding	funding	NOUN
iiclr-27370	608	23	of	of	ADP
iiclr-27370	608	24	criminal	criminal	ADJ
iiclr-27370	608	25	enterprise.268	enterprise.268	NOUN
iiclr-27370	608	26	in	in	ADP
iiclr-27370	608	27	implementing	implement	VERB
iiclr-27370	608	28	these	these	DET
iiclr-27370	608	29	proposed	propose	VERB
iiclr-27370	608	30	regulations	regulation	NOUN
iiclr-27370	608	31	,	,	PUNCT
iiclr-27370	608	32	the	the	DET
iiclr-27370	608	33	united	united	PROPN
iiclr-27370	608	34	states	states	PROPN
iiclr-27370	608	35	could	could	AUX
iiclr-27370	608	36	alleviate	alleviate	VERB
iiclr-27370	608	37	some	some	PRON
iiclr-27370	608	38	of	of	ADP
iiclr-27370	608	39	the	the	DET
iiclr-27370	608	40	dangers	danger	NOUN
iiclr-27370	608	41	and	and	CCONJ
iiclr-27370	608	42	risks	risk	NOUN
iiclr-27370	608	43	associated	associate	VERB
iiclr-27370	608	44	with	with	ADP
iiclr-27370	608	45	cryptocurrency	cryptocurrency	NOUN
iiclr-27370	608	46	while	while	SCONJ
iiclr-27370	608	47	simultaneously	simultaneously	ADV
iiclr-27370	608	48	promoting	promote	VERB
iiclr-27370	608	49	the	the	DET
iiclr-27370	608	50	growth	growth	NOUN
iiclr-27370	608	51	and	and	CCONJ
iiclr-27370	608	52	use	use	NOUN
iiclr-27370	608	53	of	of	ADP
iiclr-27370	608	54	the	the	DET
iiclr-27370	608	55	cryptocurrency	cryptocurrency	NOUN
iiclr-27370	608	56	industry	industry	NOUN
iiclr-27370	608	57	.	.	PUNCT
iiclr-27370	609	1	v.	v.	ADP
iiclr-27370	609	2	conclusion	conclusion	NOUN
iiclr-27370	609	3	the	the	DET
iiclr-27370	609	4	comparison	comparison	NOUN
iiclr-27370	609	5	between	between	ADP
iiclr-27370	609	6	the	the	DET
iiclr-27370	609	7	american	american	ADJ
iiclr-27370	609	8	wild	wild	PROPN
iiclr-27370	609	9	west	west	NOUN
iiclr-27370	609	10	of	of	ADP
iiclr-27370	609	11	the	the	DET
iiclr-27370	609	12	past	past	NOUN
iiclr-27370	609	13	and	and	CCONJ
iiclr-27370	609	14	the	the	DET
iiclr-27370	609	15	american	american	ADJ
iiclr-27370	609	16	cryptocurrency	cryptocurrency	NOUN
iiclr-27370	609	17	market	market	NOUN
iiclr-27370	609	18	of	of	ADP
iiclr-27370	609	19	the	the	DET
iiclr-27370	609	20	present	present	NOUN
iiclr-27370	609	21	is	be	AUX
iiclr-27370	609	22	especially	especially	ADV
iiclr-27370	609	23	veracious	veracious	ADJ
iiclr-27370	609	24	.	.	PUNCT
iiclr-27370	610	1	the	the	DET
iiclr-27370	610	2	wild	wild	ADJ
iiclr-27370	610	3	west	west	NOUN
iiclr-27370	610	4	allured	allure	VERB
iiclr-27370	610	5	people	people	NOUN
iiclr-27370	610	6	with	with	ADP
iiclr-27370	610	7	its	its	PRON
iiclr-27370	610	8	promises	promise	NOUN
iiclr-27370	610	9	of	of	ADP
iiclr-27370	610	10	riches	rich	NOUN
iiclr-27370	610	11	and	and	CCONJ
iiclr-27370	610	12	opportunity	opportunity	NOUN
iiclr-27370	610	13	in	in	ADP
iiclr-27370	610	14	the	the	DET
iiclr-27370	610	15	form	form	NOUN
iiclr-27370	610	16	of	of	ADP
iiclr-27370	610	17	a	a	DET
iiclr-27370	610	18	gold	gold	NOUN
iiclr-27370	610	19	rush	rush	NOUN
iiclr-27370	610	20	.	.	PUNCT
iiclr-27370	611	1	the	the	DET
iiclr-27370	611	2	result	result	NOUN
iiclr-27370	611	3	,	,	PUNCT
iiclr-27370	611	4	however	however	ADV
iiclr-27370	611	5	,	,	PUNCT
iiclr-27370	611	6	was	be	AUX
iiclr-27370	611	7	a	a	DET
iiclr-27370	611	8	land	land	NOUN
iiclr-27370	611	9	that	that	PRON
iiclr-27370	611	10	ran	run	VERB
iiclr-27370	611	11	rampant	rampant	ADJ
iiclr-27370	611	12	with	with	ADP
iiclr-27370	611	13	crime	crime	NOUN
iiclr-27370	611	14	and	and	CCONJ
iiclr-27370	611	15	lawlessness	lawlessness	NOUN
iiclr-27370	611	16	due	due	ADP
iiclr-27370	611	17	to	to	ADP
iiclr-27370	611	18	an	an	DET
iiclr-27370	611	19	enormous	enormous	ADJ
iiclr-27370	611	20	migration	migration	NOUN
iiclr-27370	611	21	of	of	ADP
iiclr-27370	611	22	people	people	NOUN
iiclr-27370	611	23	and	and	CCONJ
iiclr-27370	611	24	a	a	DET
iiclr-27370	611	25	lack	lack	NOUN
iiclr-27370	611	26	of	of	ADP
iiclr-27370	611	27	protectionist	protectionist	ADJ
iiclr-27370	611	28	measures	measure	NOUN
iiclr-27370	611	29	and	and	CCONJ
iiclr-27370	611	30	infrastructure	infrastructure	NOUN
iiclr-27370	611	31	.	.	PUNCT
iiclr-27370	612	1	cryptocurrency	cryptocurrency	NOUN
iiclr-27370	612	2	,	,	PUNCT
iiclr-27370	612	3	too	too	ADV
iiclr-27370	612	4	,	,	PUNCT
iiclr-27370	612	5	offers	offer	VERB
iiclr-27370	612	6	coin	coin	NOUN
iiclr-27370	612	7	holders	holder	NOUN
iiclr-27370	612	8	a	a	DET
iiclr-27370	612	9	“	"	PUNCT
iiclr-27370	612	10	gold	gold	ADJ
iiclr-27370	612	11	rush	rush	NOUN
iiclr-27370	612	12	”	"	PUNCT
iiclr-27370	612	13	opportunity	opportunity	NOUN
iiclr-27370	612	14	to	to	PART
iiclr-27370	612	15	make	make	VERB
iiclr-27370	612	16	huge	huge	ADJ
iiclr-27370	612	17	returns	return	NOUN
iiclr-27370	612	18	on	on	ADP
iiclr-27370	612	19	their	their	PRON
iiclr-27370	612	20	investments	investment	NOUN
iiclr-27370	612	21	and	and	CCONJ
iiclr-27370	612	22	,	,	PUNCT
iiclr-27370	612	23	thus	thus	ADV
iiclr-27370	612	24	,	,	PUNCT
iiclr-27370	612	25	to	to	PART
iiclr-27370	612	26	improve	improve	VERB
iiclr-27370	612	27	their	their	PRON
iiclr-27370	612	28	quality	quality	NOUN
iiclr-27370	612	29	of	of	ADP
iiclr-27370	612	30	life	life	NOUN
iiclr-27370	612	31	.	.	PUNCT
iiclr-27370	613	1	as	as	ADP
iiclr-27370	613	2	a	a	DET
iiclr-27370	613	3	result	result	NOUN
iiclr-27370	613	4	,	,	PUNCT
iiclr-27370	613	5	it	it	PRON
iiclr-27370	613	6	has	have	AUX
iiclr-27370	613	7	drawn	draw	VERB
iiclr-27370	613	8	millions	million	NOUN
iiclr-27370	613	9	of	of	ADP
iiclr-27370	613	10	people	people	NOUN
iiclr-27370	613	11	despite	despite	SCONJ
iiclr-27370	613	12	the	the	DET
iiclr-27370	613	13	fact	fact	NOUN
iiclr-27370	613	14	that	that	SCONJ
iiclr-27370	613	15	it	it	PRON
iiclr-27370	613	16	is	be	AUX
iiclr-27370	613	17	in	in	ADP
iiclr-27370	613	18	its	its	PRON
iiclr-27370	613	19	nascent	nascent	ADJ
iiclr-27370	613	20	stages	stage	NOUN
iiclr-27370	613	21	as	as	SCONJ
iiclr-27370	613	22	a	a	DET
iiclr-27370	613	23	market.269	market.269	PROPN
iiclr-27370	613	24	american	american	PROPN
iiclr-27370	613	25	cryptocurrency	cryptocurrency	NOUN
iiclr-27370	613	26	holders	holder	NOUN
iiclr-27370	613	27	have	have	AUX
iiclr-27370	613	28	found	find	VERB
iiclr-27370	613	29	themselves	themselves	PRON
iiclr-27370	613	30	in	in	ADP
iiclr-27370	613	31	a	a	DET
iiclr-27370	613	32	space	space	NOUN
iiclr-27370	613	33	that	that	PRON
iiclr-27370	613	34	appears	appear	VERB
iiclr-27370	613	35	to	to	PART
iiclr-27370	613	36	be	be	AUX
iiclr-27370	613	37	lawless	lawless	ADJ
iiclr-27370	613	38	and	and	CCONJ
iiclr-27370	613	39	unregulated	unregulated	ADJ
iiclr-27370	613	40	—	—	PUNCT
iiclr-27370	613	41	just	just	ADV
iiclr-27370	613	42	like	like	ADP
iiclr-27370	613	43	the	the	DET
iiclr-27370	613	44	gold	gold	NOUN
iiclr-27370	613	45	rush	rush	NOUN
iiclr-27370	613	46	era	era	NOUN
iiclr-27370	613	47	american	american	PROPN
iiclr-27370	613	48	west	west	PROPN
iiclr-27370	613	49	.	.	PUNCT
iiclr-27370	614	1	a	a	DET
iiclr-27370	614	2	variety	variety	NOUN
iiclr-27370	614	3	of	of	ADP
iiclr-27370	614	4	consumer	consumer	NOUN
iiclr-27370	614	5	protection	protection	NOUN
iiclr-27370	614	6	and	and	CCONJ
iiclr-27370	614	7	national	national	ADJ
iiclr-27370	614	8	security	security	NOUN
iiclr-27370	614	9	issues	issue	NOUN
iiclr-27370	614	10	have	have	AUX
iiclr-27370	614	11	arisen	arise	VERB
iiclr-27370	614	12	,	,	PUNCT
iiclr-27370	614	13	as	as	SCONJ
iiclr-27370	614	14	the	the	DET
iiclr-27370	614	15	industry	industry	NOUN
iiclr-27370	614	16	has	have	AUX
iiclr-27370	614	17	seen	see	VERB
iiclr-27370	614	18	more	more	ADJ
iiclr-27370	614	19	than	than	ADP
iiclr-27370	614	20	its	its	PRON
iiclr-27370	614	21	fair	fair	ADJ
iiclr-27370	614	22	share	share	NOUN
iiclr-27370	614	23	of	of	ADP
iiclr-27370	614	24	theft	theft	NOUN
iiclr-27370	614	25	,	,	PUNCT
iiclr-27370	614	26	hackers	hacker	NOUN
iiclr-27370	614	27	,	,	PUNCT
iiclr-27370	614	28	scammers	scammer	NOUN
iiclr-27370	614	29	,	,	PUNCT
iiclr-27370	614	30	and	and	CCONJ
iiclr-27370	614	31	fraudsters	fraudster	NOUN
iiclr-27370	614	32	.	.	PUNCT
iiclr-27370	615	1	what	what	PRON
iiclr-27370	615	2	is	be	AUX
iiclr-27370	615	3	more	more	ADJ
iiclr-27370	615	4	,	,	PUNCT
iiclr-27370	615	5	the	the	DET
iiclr-27370	615	6	anonymous	anonymous	ADJ
iiclr-27370	615	7	and	and	CCONJ
iiclr-27370	615	8	decentralized	decentralize	VERB
iiclr-27370	615	9	nature	nature	NOUN
iiclr-27370	615	10	of	of	ADP
iiclr-27370	615	11	crypto	crypto	NOUN
iiclr-27370	615	12	,	,	PUNCT
iiclr-27370	615	13	combined	combine	VERB
iiclr-27370	615	14	with	with	ADP
iiclr-27370	615	15	its	its	PRON
iiclr-27370	615	16	current	current	ADJ
iiclr-27370	615	17	lack	lack	NOUN
iiclr-27370	615	18	of	of	ADP
iiclr-27370	615	19	regulation	regulation	NOUN
iiclr-27370	615	20	has	have	AUX
iiclr-27370	615	21	made	make	VERB
iiclr-27370	615	22	it	it	PRON
iiclr-27370	615	23	a	a	DET
iiclr-27370	615	24	hub	hub	NOUN
iiclr-27370	615	25	for	for	ADP
iiclr-27370	615	26	crime	crime	NOUN
iiclr-27370	615	27	;	;	PUNCT
iiclr-27370	615	28	specifically	specifically	ADV
iiclr-27370	615	29	,	,	PUNCT
iiclr-27370	615	30	terrorism	terrorism	NOUN
iiclr-27370	615	31	funding	funding	NOUN
iiclr-27370	615	32	and	and	CCONJ
iiclr-27370	615	33	money	money	NOUN
iiclr-27370	615	34	laundering	laundering	NOUN
iiclr-27370	615	35	.	.	PUNCT
iiclr-27370	616	1	the	the	DET
iiclr-27370	616	2	united	united	PROPN
iiclr-27370	616	3	states	states	PROPN
iiclr-27370	616	4	’	’	PART
iiclr-27370	616	5	current	current	ADJ
iiclr-27370	616	6	approach	approach	NOUN
iiclr-27370	616	7	to	to	ADP
iiclr-27370	616	8	regulation	regulation	NOUN
iiclr-27370	616	9	delegates	delegate	NOUN
iiclr-27370	616	10	power	power	VERB
iiclr-27370	616	11	to	to	ADP
iiclr-27370	616	12	several	several	ADJ
iiclr-27370	616	13	federal	federal	ADJ
iiclr-27370	616	14	agencies	agency	NOUN
iiclr-27370	616	15	and	and	CCONJ
iiclr-27370	616	16	does	do	AUX
iiclr-27370	616	17	not	not	PART
iiclr-27370	616	18	preempt	preempt	VERB
iiclr-27370	616	19	states	state	NOUN
iiclr-27370	616	20	from	from	ADP
iiclr-27370	616	21	throwing	throw	VERB
iiclr-27370	616	22	their	their	PRON
iiclr-27370	616	23	hats	hat	NOUN
iiclr-27370	616	24	into	into	ADP
iiclr-27370	616	25	the	the	DET
iiclr-27370	616	26	regulatory	regulatory	ADJ
iiclr-27370	616	27	ring	ring	NOUN
iiclr-27370	616	28	.	.	PUNCT
iiclr-27370	617	1	as	as	ADP
iiclr-27370	617	2	a	a	DET
iiclr-27370	617	3	result	result	NOUN
iiclr-27370	617	4	,	,	PUNCT
iiclr-27370	617	5	the	the	DET
iiclr-27370	617	6	framework	framework	NOUN
iiclr-27370	617	7	is	be	AUX
iiclr-27370	617	8	muddled	muddle	VERB
iiclr-27370	617	9	,	,	PUNCT
iiclr-27370	617	10	confusing	confusing	ADJ
iiclr-27370	617	11	,	,	PUNCT
iiclr-27370	617	12	and	and	CCONJ
iiclr-27370	617	13	ineffective	ineffective	ADJ
iiclr-27370	617	14	to	to	PART
iiclr-27370	617	15	say	say	VERB
iiclr-27370	617	16	the	the	DET
iiclr-27370	617	17	least	least	ADJ
iiclr-27370	617	18	.	.	PUNCT
iiclr-27370	618	1	singapore	singapore	PROPN
iiclr-27370	618	2	,	,	PUNCT
iiclr-27370	618	3	on	on	ADP
iiclr-27370	618	4	the	the	DET
iiclr-27370	618	5	other	other	ADJ
iiclr-27370	618	6	hand	hand	NOUN
iiclr-27370	618	7	,	,	PUNCT
iiclr-27370	618	8	has	have	AUX
iiclr-27370	618	9	managed	manage	VERB
iiclr-27370	618	10	to	to	PART
iiclr-27370	618	11	implement	implement	VERB
iiclr-27370	618	12	a	a	DET
iiclr-27370	618	13	regulatory	regulatory	ADJ
iiclr-27370	618	14	approach	approach	NOUN
iiclr-27370	618	15	that	that	PRON
iiclr-27370	618	16	drastically	drastically	ADV
iiclr-27370	618	17	reduces	reduce	VERB
iiclr-27370	618	18	these	these	DET
iiclr-27370	618	19	risks	risk	NOUN
iiclr-27370	618	20	while	while	SCONJ
iiclr-27370	618	21	also	also	ADV
iiclr-27370	618	22	encouraging	encourage	VERB
iiclr-27370	618	23	the	the	DET
iiclr-27370	618	24	growth	growth	NOUN
iiclr-27370	618	25	of	of	ADP
iiclr-27370	618	26	the	the	DET
iiclr-27370	618	27	cryptocurrency	cryptocurrency	NOUN
iiclr-27370	618	28	industry	industry	NOUN
iiclr-27370	618	29	within	within	ADP
iiclr-27370	618	30	the	the	DET
iiclr-27370	618	31	nation	nation	NOUN
iiclr-27370	618	32	.	.	PUNCT
iiclr-27370	619	1	this	this	DET
iiclr-27370	619	2	approach	approach	NOUN
iiclr-27370	619	3	delegates	delegate	VERB
iiclr-27370	619	4	regulatory	regulatory	ADJ
iiclr-27370	619	5	authority	authority	NOUN
iiclr-27370	619	6	over	over	ADP
iiclr-27370	619	7	cryptocurrency	cryptocurrency	NOUN
iiclr-27370	619	8	to	to	ADP
iiclr-27370	619	9	one	one	NUM
iiclr-27370	619	10	authoritative	authoritative	ADJ
iiclr-27370	619	11	,	,	PUNCT
iiclr-27370	619	12	central	central	ADJ
iiclr-27370	619	13	agency	agency	NOUN
iiclr-27370	619	14	—	—	PUNCT
iiclr-27370	619	15	the	the	DET
iiclr-27370	619	16	mas	mas	PROPN
iiclr-27370	619	17	.	.	PROPN
iiclr-27370	620	1	in	in	ADP
iiclr-27370	620	2	implementing	implement	VERB
iiclr-27370	620	3	this	this	DET
iiclr-27370	620	4	regulation	regulation	NOUN
iiclr-27370	620	5	,	,	PUNCT
iiclr-27370	620	6	singapore	singapore	PROPN
iiclr-27370	620	7	has	have	AUX
iiclr-27370	620	8	established	establish	VERB
iiclr-27370	620	9	a	a	DET
iiclr-27370	620	10	singular	singular	ADJ
iiclr-27370	620	11	authority	authority	NOUN
iiclr-27370	620	12	charged	charge	VERB
iiclr-27370	620	13	with	with	ADP
iiclr-27370	620	14	the	the	DET
iiclr-27370	620	15	regulation	regulation	NOUN
iiclr-27370	620	16	of	of	ADP
iiclr-27370	620	17	cryptocurrency	cryptocurrency	NOUN
iiclr-27370	620	18	assets	asset	NOUN
iiclr-27370	620	19	.	.	PUNCT
iiclr-27370	621	1	this	this	PRON
iiclr-27370	621	2	has	have	AUX
iiclr-27370	621	3	allowed	allow	VERB
iiclr-27370	621	4	singapore	singapore	PROPN
iiclr-27370	621	5	to	to	PART
iiclr-27370	621	6	apply	apply	VERB
iiclr-27370	621	7	laws	law	NOUN
iiclr-27370	621	8	that	that	PRON
iiclr-27370	621	9	put	put	VERB
iiclr-27370	621	10	into	into	ADP
iiclr-27370	621	11	place	place	NOUN
iiclr-27370	621	12	effective	effective	ADJ
iiclr-27370	621	13	consumer	consumer	NOUN
iiclr-27370	621	14	protection	protection	NOUN
iiclr-27370	621	15	and	and	CCONJ
iiclr-27370	621	16	anti	anti	ADJ
iiclr-27370	621	17	-	-	ADJ
iiclr-27370	621	18	crime	crime	ADJ
iiclr-27370	621	19	measures	measure	NOUN
iiclr-27370	621	20	.	.	PUNCT
iiclr-27370	622	1	if	if	SCONJ
iiclr-27370	622	2	the	the	DET
iiclr-27370	622	3	united	united	PROPN
iiclr-27370	622	4	states	states	PROPN
iiclr-27370	622	5	wants	want	VERB
iiclr-27370	622	6	to	to	PART
iiclr-27370	622	7	avoid	avoid	VERB
iiclr-27370	622	8	falling	fall	VERB
iiclr-27370	622	9	behind	behind	ADV
iiclr-27370	622	10	in	in	ADP
iiclr-27370	622	11	the	the	DET
iiclr-27370	622	12	268	268	NUM
iiclr-27370	622	13	.	.	PUNCT
iiclr-27370	623	1	tom	tom	PROPN
iiclr-27370	623	2	sadon	sadon	PROPN
iiclr-27370	623	3	,	,	PUNCT
iiclr-27370	623	4	5	5	NUM
iiclr-27370	623	5	reasons	reason	NOUN
iiclr-27370	623	6	why	why	SCONJ
iiclr-27370	623	7	criminals	criminal	NOUN
iiclr-27370	623	8	&	&	CCONJ
iiclr-27370	623	9	terrorists	terrorist	NOUN
iiclr-27370	623	10	turn	turn	VERB
iiclr-27370	623	11	to	to	ADP
iiclr-27370	623	12	cryptocurrencies	cryptocurrencie	NOUN
iiclr-27370	623	13	,	,	PUNCT
iiclr-27370	623	14	cognyte	cognyte	NOUN
iiclr-27370	623	15	(	(	PUNCT
iiclr-27370	623	16	nov	nov	PROPN
iiclr-27370	623	17	.	.	PROPN
iiclr-27370	623	18	2	2	NUM
iiclr-27370	623	19	,	,	PUNCT
iiclr-27370	623	20	2021	2021	NUM
iiclr-27370	623	21	)	)	PUNCT
iiclr-27370	623	22	,	,	PUNCT
iiclr-27370	623	23	https://www.cognyte.com/blog/5-reasons-why-criminals-are-turning-to-crypto	https://www.cognyte.com/blog/5-reasons-why-criminals-are-turning-to-crypto	NOUN
iiclr-27370	623	24	currencies/#:~:text	currencies/#:~:text	PROPN
iiclr-27370	623	25	=	=	SYM
iiclr-27370	623	26	just%20as%20cryptocurrencies%20are%20gaining	just%20as%20cryptocurrencies%20are%20gaining	NOUN
iiclr-27370	623	27	,	,	PUNCT
iiclr-27370	623	28	in%20illicit%20activiti	in%20illicit%20activiti	PROPN
iiclr-27370	623	29	es%20in%202020	es%20in%202020	PROPN
iiclr-27370	624	1	[	[	X
iiclr-27370	624	2	https://perma.cc/p9sz-6epg	https://perma.cc/p9sz-6epg	NOUN
iiclr-27370	624	3	]	]	X
iiclr-27370	624	4	(	(	PUNCT
iiclr-27370	624	5	stating	state	VERB
iiclr-27370	624	6	that	that	SCONJ
iiclr-27370	624	7	criminals	criminal	NOUN
iiclr-27370	624	8	use	use	VERB
iiclr-27370	624	9	cryptocurrency	cryptocurrency	NOUN
iiclr-27370	624	10	for	for	ADP
iiclr-27370	624	11	illegal	illegal	ADJ
iiclr-27370	624	12	activities	activity	NOUN
iiclr-27370	624	13	due	due	ADJ
iiclr-27370	624	14	to	to	ADP
iiclr-27370	624	15	its	its	PRON
iiclr-27370	624	16	“	"	PUNCT
iiclr-27370	624	17	promise	promise	NOUN
iiclr-27370	624	18	of	of	ADP
iiclr-27370	624	19	anonymity	anonymity	NOUN
iiclr-27370	624	20	,	,	PUNCT
iiclr-27370	624	21	”	"	PUNCT
iiclr-27370	624	22	“	"	PUNCT
iiclr-27370	624	23	no	no	DET
iiclr-27370	624	24	strings	string	NOUN
iiclr-27370	624	25	attached	attach	VERB
iiclr-27370	624	26	”	"	PUNCT
iiclr-27370	624	27	nature	nature	NOUN
iiclr-27370	624	28	,	,	PUNCT
iiclr-27370	624	29	accessibility	accessibility	NOUN
iiclr-27370	624	30	and	and	CCONJ
iiclr-27370	624	31	speed	speed	NOUN
iiclr-27370	624	32	,	,	PUNCT
iiclr-27370	624	33	easy	easy	ADJ
iiclr-27370	624	34	storage	storage	NOUN
iiclr-27370	624	35	and	and	CCONJ
iiclr-27370	624	36	transferability	transferability	NOUN
iiclr-27370	624	37	,	,	PUNCT
iiclr-27370	624	38	and	and	CCONJ
iiclr-27370	624	39	borderless	borderless	ADJ
iiclr-27370	624	40	nature	nature	NOUN
iiclr-27370	624	41	)	)	PUNCT
iiclr-27370	624	42	.	.	PUNCT
iiclr-27370	625	1	269	269	NUM
iiclr-27370	625	2	.	.	PUNCT
iiclr-27370	625	3	haar	haar	PROPN
iiclr-27370	625	4	,	,	PUNCT
iiclr-27370	625	5	supra	supra	PROPN
iiclr-27370	625	6	note	note	NOUN
iiclr-27370	625	7	267	267	NUM
iiclr-27370	625	8	.	.	PUNCT
iiclr-27370	626	1	2023	2023	NUM
iiclr-27370	626	2	]	]	PUNCT
iiclr-27370	626	3	the	the	DET
iiclr-27370	626	4	wild	wild	ADJ
iiclr-27370	626	5	west	west	NOUN
iiclr-27370	626	6	,	,	PUNCT
iiclr-27370	626	7	cryptocurrency	cryptocurrency	NOUN
iiclr-27370	626	8	,	,	PUNCT
iiclr-27370	626	9	and	and	CCONJ
iiclr-27370	626	10	singapore	singapore	PROPN
iiclr-27370	626	11	223	223	NUM
iiclr-27370	626	12	burgeoning	burgeon	VERB
iiclr-27370	626	13	age	age	NOUN
iiclr-27370	626	14	of	of	ADP
iiclr-27370	626	15	digital	digital	ADJ
iiclr-27370	626	16	currency	currency	NOUN
iiclr-27370	626	17	,	,	PUNCT
iiclr-27370	626	18	it	it	PRON
iiclr-27370	626	19	should	should	AUX
iiclr-27370	626	20	follow	follow	VERB
iiclr-27370	626	21	singapore	singapore	PROPN
iiclr-27370	626	22	’s	’s	PART
iiclr-27370	626	23	lead	lead	NOUN
iiclr-27370	626	24	by	by	ADP
iiclr-27370	626	25	appointing	appoint	VERB
iiclr-27370	626	26	a	a	DET
iiclr-27370	626	27	single	single	ADJ
iiclr-27370	626	28	governing	govern	VERB
iiclr-27370	626	29	agency	agency	NOUN
iiclr-27370	626	30	over	over	ADP
iiclr-27370	626	31	cryptocurrency	cryptocurrency	NOUN
iiclr-27370	626	32	and	and	CCONJ
iiclr-27370	626	33	promulgating	promulgate	VERB
iiclr-27370	626	34	regulations	regulation	NOUN
iiclr-27370	626	35	—	—	PUNCT
iiclr-27370	626	36	similar	similar	ADJ
iiclr-27370	626	37	to	to	ADP
iiclr-27370	626	38	the	the	DET
iiclr-27370	626	39	psa	psa	NOUN
iiclr-27370	626	40	,	,	PUNCT
iiclr-27370	626	41	sfa	sfa	PROPN
iiclr-27370	626	42	,	,	PUNCT
iiclr-27370	626	43	and	and	CCONJ
iiclr-27370	626	44	psn02	psn02	NOUN
iiclr-27370	626	45	—	—	PUNCT
iiclr-27370	626	46	that	that	PRON
iiclr-27370	626	47	offer	offer	VERB
iiclr-27370	626	48	cryptocurrency	cryptocurrency	NOUN
iiclr-27370	626	49	holders	holder	NOUN
iiclr-27370	626	50	protection	protection	NOUN
iiclr-27370	626	51	against	against	ADP
iiclr-27370	626	52	the	the	DET
iiclr-27370	626	53	industry	industry	NOUN
iiclr-27370	626	54	’s	’s	PART
iiclr-27370	626	55	many	many	ADJ
iiclr-27370	626	56	dangers	danger	NOUN
iiclr-27370	626	57	,	,	PUNCT
iiclr-27370	626	58	prevent	prevent	VERB
iiclr-27370	626	59	the	the	DET
iiclr-27370	626	60	use	use	NOUN
iiclr-27370	626	61	of	of	ADP
iiclr-27370	626	62	cryptocurrency	cryptocurrency	NOUN
iiclr-27370	626	63	for	for	ADP
iiclr-27370	626	64	crime	crime	NOUN
iiclr-27370	626	65	,	,	PUNCT
iiclr-27370	626	66	and	and	CCONJ
iiclr-27370	626	67	encourage	encourage	VERB
iiclr-27370	626	68	the	the	DET
iiclr-27370	626	69	use	use	NOUN
iiclr-27370	626	70	and	and	CCONJ
iiclr-27370	626	71	adoption	adoption	NOUN
iiclr-27370	626	72	of	of	ADP
iiclr-27370	626	73	cryptocurrency	cryptocurrency	NOUN
iiclr-27370	626	74	in	in	ADP
iiclr-27370	626	75	america	america	PROPN
iiclr-27370	626	76	.	.	PUNCT