The U.S. Securities and Exchange Commission is unlikely to issue clear guidelines on the application of the law against the crypto industry before its case against Ripple is finalized, an industry expert has said. The U.S. securities regulator only needs to provide “additional facts” to prove that secondary sales of crypto assets are illegal.
Industry Expert: SEC to Continue Bringing Enforcement Actions Against Crypto Entities
According to Terrence Yang, the managing director of Swan Bitcoin IRA, the U.S. securities regulator, the Securities and Exchange Commission (SEC), is unlikely to issue clear guidance on how the law applies to the crypto industry before the finalization of its case against Ripple. Instead, the SEC is likely to continue bringing enforcement actions against crypto companies it believes to be in violation of securities laws, Yang warned.
The remarks by Yang came just a few weeks after the U.S. regulator withdrew its suit against Ripple executives Brad Garlinghou
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