The SEC has ramped up enforcement action in the crypto space. In May, the agency nearly doubled the size of its Crypto Assets and Cyber Unit to 50 positions, the SEC said.
Barbadoro’s ruling will bolster the agency’s confidence, and give it impetus to push the boundaries of its authority, attorneys said.
The ruling can serve as a precedent that the SEC can use. It also has an “in terrorem effect—something they can point to when reaching out to organizers of other token-based enterprises to say, ‘You can’t do this’ or ‘You need to do it this way,’” University of Georgia law professor Usha Rodrigues said.
‘Enforcement 40’ for 2020
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