Crypto industry steps up arguments that Supreme Court doctrine bars SEC enforcement

The crypto industry appears to be undeterred by a ruling last month that casts doubt on a sweeping theory that could squelch efforts by the U.S. Securities and Exchange Commission to police crypto issuers and exchanges.

In briefs filed in the SEC’s case against crypto exchange Coinbase, Coinbase and its supporters urged U.S. District Judge Katherine Polk Failla to disregard a first-of-its-kind finding by her colleague Jed Rakoff in an enforcement action against Terraform Labs and its founder Do Kwon.