ShapeShift Fine Epitomizes SEC's Crypto Policy, And Its Flaws
<https://www.law360.com/capitalmarkets/articles/1818678?nl_pk=abe82add-2a33-4388-8f7e-63d76e8f5534&utm_source=newsletter&utm_medium=email&utm_campaign=capitalmarkets&utm_content=2024-04-01&read_main=1&nlsidx=0&nlaidx=11>

A recent U.S. Securities and Exchange Commission order imposing a fine on
former cryptocurrency exchange ShapeShift for failing to register as a
securities dealer showcases the SEC's regulation-by-enforcement approach,
but the dissent by two commissioners raises valid concerns that the
agency's embrace of ambiguity over clarity risks hampering the growth of
the crypto economy, says Keith Blackman at Bracewell.

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