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The U.S. Securities and Exchange Commission building in Washington, D.C. Photo: Diego M. Radzinschi

SAN FRANCISCO — One of the U.S. Securities and Exchange Commission’s top enforcers Thursday laid out in detail his views on when an initial coin offering is a security under the law, giving new hints about the SEC’s approach amid an expansive investigation.

Ben Hancock

Ben Hancock is a San Francisco-based reporter covering litigation, technology, finance, and the future of law. He writes a weekly news briefing covering those topics called "What's Next." Ben can be reached via email at bhancock@alm.com, or on Twitter: @benghancock

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