Despite SEC Reset, Private Crypto Securities Cases Continue

Despite the SEC’s recent shift toward regulatory clarity and the dismissal of many crypto-related investigations, private securities litigation persists as plaintiffs bring claims against cryptoasset issuers, investors, promoters and others based on novel liability theories. Partners Alexander Drylewski and Lara Flath and associate Allison Toner D’Antonio discuss how, in the absence of complete legislative or regulatory clarity, courts are left to address a range of uncharted legal theories and questions regarding the classification and regulation of cryptoassets, including the application of the Howey test.