Notice that it’s all in the Division of Enforcement. As far as I can tell the Division of Writing DeFi Rules continues to have roughly zero dedicated position. The way you will know what SEC’s crypto rules are is that in like five years you will be able to look at a bunch of enforcement actions. Each enforcement action will begin by describing what the company did that was bad, and you’ll know that is illegal. Each settled enforcement action will end by describing what the company agreed to do to remedy the problem, and you’ll know that is legal. And you’ll try to do the legal things and not do the illegal things and make your best guess about things that aren’t described in any of the enforcement actions. But it seems to me that the major enforcement actions are still mostly in the future, so good luck figuring it out now.
Source: SEC Crypto Cyber – Bloomberg