Lawyer: the SEC's strategy of ruling that crypto assets are securities based on other rulings may not succeed

The SEC's use of a recent ruling by a California court in another insider trading case to rule that tokens on Coinbase are securities is aggressive, and the regulator's legal strategy may not be successful, according to Terrence Yang, an attorney and managing director at Swan Bitcoin. Teresa Goody Guillén, a partner at the law firm BakerHostetler, also insisted that insider trading cases can't be overrepresented in the SEC's larger lawsuit against Coinbase. "The value or impact of an insider trading case is quite limited," he said.