Binance Litigation: Pause. Coinbase Litigation: Rejected. Researching Opensea, Robinhood, and Uniswap? end, endand Dust.
Over the past two weeks, President Donald Trump’s SEC has effectively torn off the crypto caseload and dismantled coordinated agencies. Long-standing campaign Stop core businesses of all types of blockchain-related companies.
Naturally, development has spread euphoria throughout the digital asset industry over the years. A costly legal battle It threatened to go out of business with the top exchange.
But should the crypto industry still celebrate a complete victory? Legal experts who spoke Decryption He warned that it might be a little earlier to break the champagne. The recently dismissed lawsuit shows that Crypto’s secondary market is likely to be revealed, but the SEC has yet to place emphasis on the legal status of the thousands of tokens filling those exchanges.
“We have not made any substantial decisions regarding the individual tokens themselves.”
In April, the SEC issued a Wells Notice claiming that UNISWAP Labs was operated as an unregistered broker, operated an exchange and issued unregistered security.
As of yesterday, the investigation had officially been closed and the SEC has not taken any enforcement action.
this is…
-uniswap labs (@ingap) February 25, 2025
Ally Haycoop, Haynes Boone’s lawyer specializing in securities regulations, Decryption. “I think some of them would be considered securities.”
Last week, SEC Commissioner Hester Perth – New Director of the agency Cryptographic Task Force– Suggestion a Classification This divides digital assets into four general categories: Two of these categories label the token as unregistered securities if it has “essential properties of securities (ed.)” or lacks such qualities.
While Trump’s SEC has so far shown to be highly pro-cryptic, Heijkoop argues that if it is sold as an asset to be appreciated thanks to the publisher’s efforts, the institution will ultimately classify the crypto token as a securities.
“If I were the betting guy, would they say they would decide that cryptography is not security?” the lawyer silent. “no.”
Crypto users should be re-interested in the legal status of Altcoin’s flagship figures, such as SECs, Solana, Polygon and Cardano. Previously Did you have any securities?
Ryne Miller, co-chair of Lowenstein Sandler’s Crypto Practice, is confident that the current SEC will not pull fast when it comes to established tokens.
“I’m not worried about the token sales that’s already happening,” Miller said. Decryption. “It’s clearly available, especially in the context of a very robust token environment, because tokens are designed to be used,” he said.
“I think we’re at a point where we can decide how to move this forward,” Miller added.
Still, not all crypto attorneys are sighing at ease. Drew Hinkes, a partner at Winston & Strawn, specializing in digital assets, believes that crypto projects should only drop their guard if the SEC makes specific declarations about a particular token or token category.
“The industry needs more than just the atmosphere,” Hinkes said. Decryption. “I can’t advise clients based on what someone else thinks they might do in the future.”
The lawyers argue that the SEC’s recent streak of crypto case terminations has done little to determine the question of how to classify and regulate most individual tokens. That’s why he believes the industry is currently hovering “in a zone of uncertainty.”
But there are still some promising signs. On Monday, Hinkes flew to Washington to meet with the SEC’s Cryptographic Task Force, two other prominent crypto-centric legal experts, JW Verret and Jason Gottlieb. At the meeting, the lawyer presented it. Elaborate proposal Layout how the SEC advances crypto regulations in 16 different areas.
Hinkes left the meeting more easily than he had when he entered.
“It was a very encouraging and productive meeting,” he said. “There was a lot of openness in the idea.”
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