Patrick Daugherty Comments on SEC Crypto Crackdown

Foley & Lardner LLP Partner Patrick Daugherty is quoted in the CoinDesk article, “One-Two Punch Finally Registers SEC View on Binance, Coinbase, Rest of Crypto,” discussing the U.S. Securities and Exchange Commission’s (SEC) recent enforcement actions against prominent digital asset platforms.

“Again, the SEC claims that particular digital assets are illegally offered securities without suing their issuers, or even identifying their issuers,” Daugherty said. “An SEC allegation is not a judicial judgment. It is not a binding legal determination. But neither can it be ignored. The SEC knows this.”

“By asserting that these assets are securities, the SEC is attempting to chill the market for them without having proved its case in court,” Daugherty added.