I can see a few reasons for taking this approach, the most mundane of which is the federal government actually has clear authority to regulate investment and existing regulatory frameworks to draw from.
Trying to regulate technology with ITAR or arms export laws is I think more likely to receive backlash to the point of facing constitutional challenge. The finance laws also probably risk this, but a lot less.
I can see a few reasons for taking this approach, the most mundane of which is the federal government actually has clear authority to regulate investment and existing regulatory frameworks to draw from.
Trying to regulate technology with ITAR or arms export laws is I think more likely to receive backlash to the point of facing constitutional challenge. The finance laws also probably risk this, but a lot less.