Regulation of "Set/Index" Managers

I’d like to better understand current perspectives on regulation of Set/Index Managers (e.g. a manager who builds a Set using the Set Protocol).

What is the expectation on how Set/Index Managers are/will be regulated in the US and also in Europe?

Is it advisable for a Set/Index Manager such as IndexCoop to be a US company or best to be incorporated in another particular country?

How is this community thinking about risks in the case of consumer loss from indices (either for market or smart contract failure reasons)? How are these mitigated?

What are community perspectives here and what are the best resources available on these topics?

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we don’t fully know yet. Probably best to wait to get the final set of rules after this passes the House vote and they make their changes.

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Thanks, appreciate the response, and look forward to hearing more as things evolve.