Regulating Cryptocurrency: SEC's Shifting Stance

This chapter explores the SEC's position on cryptocurrency and its classification as securities, detailing past litigation and judicial conclusions. It discusses the contrasting regulatory approaches across different administrations, the implications of the SEC’s recent decision to halt lawsuits against major exchanges, and the evolving application of the Howey test. The chapter also examines the role of private litigation in investor recovery and the active involvement of state attorneys general in combating fraud in the crypto space.