Winston & Strawn lawyers have asked a federal judge to put an end to “back door” rule making in a securities fight stemming from secondary market trading of cryptocurrency. 

“The SEC’s leadership has issued a series of shifting and often contradictory statements—many of which have been criticized by other regulators and even dissenting SEC commissioners—or otherwise simply attempted to ‘enforce’ its way to a regulatory framework,” wrote Winston & Strawn lawyers Dan Stabile and George Mastoris in an amicus brief filed on behalf of the Chamber of Digital Commerce in claims against a pair of former Coinbase employees who’ve since been convicted of insider trading.