Stephen A. answered 04/06/16
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A statute is an enactment by a legislature (such as Congress) that has been signed into law by the executive branch (depending on whether this is at the state or federal level, the specific actors change: i.e., the President signs bills into law at the federal level, while a governor does so at the state level). Regulations are similar in that they also govern some aspect of society, but they are crafted by administrative agencies who have been specifically granted the power to make rules on a particular subject matter by a legislature. The ATF, EPA, DEA, Forest Service, etc., are all agencies created by a statute, and given power to make rules necessary to carry out their purpose. Legislatures often do this in order to have greater expertise in governing subject matters that carry great detail and require careful consideration and expert knowledge. An example of the difference between a statute and regulation would be an EPA (environmental protection agency) rule limiting a certain type of pollutants in an area (the regulation) and a law (statute) stating criminal penalties for exceeding that limitation imposed by Congress.