What do you not understand about crypto law or policy that you wish someone would ELI5?

Is there levels of legalities in how much you hold of a token e.g. top holders face more risk as apposed to small holders

I am part of the crypto and web3 community. Warpcast for the vibes

That's possible, both because there might be laws that apply to large holders that don't apply to smaller holders, and because practically speaking regulators are more likely to focus enforcement resources on large holders. The real top holders are often the exchanges, and they're target #1 right now.