Overview
Bloomberg Law quoted Michelle Kallen in an article titled, "Crypto Litigation Shows the Industry Won Fight Over Legitimacy." In the article, Bloomberg's David Lat discusses how recent shifts in US crypto litigation demonstrate that the cryptocurrency industry has successfully moved from being treated as a regulatory target to being recognized as a legitimate sector, with enforcement actions giving way to emerging regulatory and legislative frameworks.
Speaking on how crypto regulation is changing, Kallen says, "From a litigation standpoint, things have shifted. Under the last administration, many crypto companies complained of 'regulation by enforcement' because the Securities and Exchange Commission never promulgated rules defining which crypto assets are securities; it just brought enforcement actions. Under the Trump administration, the SEC has dropped most if not all of these actions."
