How far we’ve come from Howey’s citrus groves. Today’s cryptocurrency products would have almost assuredly left the drafters of the most utilized laws in the criminal and regulatory securities context utterly befuddled.
Because Congress has failed to enact modern legislation governing crypto assets, including cryptocurrency, the U.S. Department of Justice (DOJ), Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC) have been compelled to shoehorn their crypto related fraud enforcement strategies into distinct enforcement schemes that are many decades old.
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