The Securities and Exchange Commission has formally proposed a comprehensive new rulebook titled Regulation Crypto Assets to establish a federal framework for digital asset investment contracts. Down here in Baja, nobody cares about compliance pathways or federal exemptions while the local taco stand is serving fresh marlin and the CFE grid is cutting power yet again. Silicon Valley compliance lawyers are celebrating, but the local expats are too busy checking the surf report at Cerritos to read a 402-page government PDF.