It's not every day that an industry begs the federal government for better regulation, but that increasingly is the case with the emerging blockchain/cryptocurrency industry.

“Because we have this lack of clarity right now it is creating uncertainty that is completely paralyzing,” said Georgia Quinn, general counsel of CoinList, a company that vets and lists cryptocurrency token sales or initial coin offerings, in a recent interview.

While federal regulators such as the U.S. Securities and Exchange Commission and the U.S. Commodity Futures Trading Commission have been actively taking enforcement actions against cryptocurrency operations and fraudulent schemes, they haven't been all that helpful in clarifying the rules of the road so that the industry can legitimately develop and thrive, she said.