Hodl Law, which describes itself as focusing on “legal services for digital assets and cryptocurrency,” sued the SEC last November in federal court in San Diego, arguing that the SEC has engaged in “years-long, purposeful delay and obfuscation” in order to extend its regulatory reach over cryptocurrencies. That strategy, Hodl Law asserted, didn’t give token-holders fair notice about whether their coins are securities.
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In Monday’s dismissal brief, the SEC offered technical arguments to toss the case, asserting to U.S. District Judge James Lorenz that because there’s no live case or controversy between Hodl Law and the commission, the law firm lacks constitutional standing and the court does not have jurisdiction under the Declaratory Judgment Act.
But that wasn’t all. The SEC also said that it’s not obliged to warn crypto users about its interpretation of securities laws.
Source: Sorry crypto world, but SEC isn’t backing down on ‘regulation by enforcement’ | Reuters
