Sorry crypto world, but SEC isn’t backing down on ‘regulation by enforcement’

For as long as I’ve been covering U.S. Securities and Exchange Commission litigation against crypto targets, the industry has harshly criticized the commission for bringing one-at-a-time enforcement actions as a way to set crypto regulatory policy, instead of engaging in formal rulemaking or waiting for Congress to pass legislation that clarifies when U.S. securities laws apply to digital assets. In the latest example, a onetime Coinbase Global Inc manager who was accused last year of insider t