Insights

• The U.S. Securities and Exchange Commission (SEC) has recently shifted its approach to regulating the digital asset industry.
• This change has resulted in the dismissal or suspension of several high-profile cases against major cryptocurrency businesses.
• However, this regulatory retreat does not preclude private plaintiffs from pursuing legal action.

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• U.S. regulators are aggressively stretching the bounds of their jurisdiction over the cryptocurrency and digital asset space.
• This puts exchanges, founders, investors and other parties at risk of increased uncertainty and risk of investigation and enforcement.
• Deference may not earn targets leniency – instead, as a recent Kobre & Kim settlement shows, standing up to the regulators can pay dividends.

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• The global crypto industry may have celebrated prematurely at a reported win by LBRY amici against the U.S. Securities and Exchange Commission.
• In fact, enforcement threats are at an all-time high, and the SEC and other regulators are emboldened.
• Only by matching the regulator’s aggressiveness with equally aggressive strategies can industry players see success.

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