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Particular focus of this article will be managing the environmental risks and benefits of nanotechnology. Currently, U.S. federal agencies do not actively regulate nanotechnology, but they have begun to assess its implications. This article attempts to assess the challenges that nanomaterials pose to the existing regulatory framework, and make recommendations for revisions, using a detailed case-study of the U.S. Environmental Protection Agency's (EPA) Toxic Substances Control Act (TSCA). Nanomaterials are anticipated to have cross-market implications, and TSCA is the broadest piece of legislation that deals with chemical regulation. For the purposes of this article, nanotechnology is defined as the science and engineering of manipulating matter at the nanoscale (<100 nm) in at least one dimension. Nanomaterials are materials with at least one dimension in the nanoscale (e.g., nanopaiticles, nanocoatings, nanowires).