Crypto-focused law firm Hodl Law PLLC has sued the U.S. Securities and Exchange Commission, alleging that the SEC has failed to clarify its jurisdictional authority over digital assets and failed to define whether it views digital assets as securities. This lawsuit is perhaps one of the most ridiculous legal documents I have ever read regarding crypto (and that is saying a lot).
Big Crypto’s pivot to the tired and toothless refrain of berating the SEC after a dumpster fire like the FTX grift is not just a dubious deflection, it’s farcical and a flat-out ruse. It’s like Holmes or Balwani blaming the U.S. Food and Drug Administration for bogus blood test results from Theranos’ counterfeit blood test machines; like Hannibal Lecter blaming the U.S. Federal Bureau of Investigation for his killing spree; or like Oswald blaming the U.S. Secret Service for JFK’s assassination.
‘Enforcement 40’ for 2020
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