“The rulings that the SEC seeks to appeal were legal determinations about the existence of investment contracts based on undisputed facts. The undisputed facts (e.g., Order at 23 (Programmatic Sales are ‘blind bid/ask transactions’)) present a legal question – can an issuer’s offers and sales on crypto asset trading platforms create a reasonable expectation of profits based on the efforts of others? This legal question is at issue in a number of pending cases, and a Second Circuit ruling will have ‘precedential value,'” the filing said.
The Crypto Industry’s Influence on U.S. Elections is Bigger Than Ever, Industry Insiders Say
"It’s a much more sophisticated operation," Smith said. "I feel like I used to walk around Washington, and people would...