On Monday, Gensler said he was “disappointed” in the judge’s ruling, and that the commission is “looking at it and assessing that option.” However, Torres asserted that the SEC’s odds of scoring an immediate appeal on the ruling are “vanishingly small,” since some issues in the case will require fact-finding, which takes time.
In the meantime, the precedent set by the judge—which the congressman calls the “Torres Doctrine”—will reign supreme.
“The tenuous legal foundation for the litigation against Coinbase has come crashing down, and rightfully so,” argued Torres. In its lawsuit against Coinbase in June, the SEC deemed a host of other top crypto assets as securities, including Cardano (ADA), Solana (SOL) and Polygon (MATIC).
“I look forward to finding out how the SEC will reassess its regulatory assault on crypto assets in light of the Torres doctrine,” concluded the congressman. Torres did not immediately respond to Decrypt’s request for comment.
‘Enforcement 40’ for 2020
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