![United States: The SEC's Limited Guidance On Crypto Tokens In No-Action Letters - Kramer Levin Naftalis & Frankel LLP](https://cdn.newsserve.net/ONPglobe256.png)
United States: The SEC's Limited Guidance On Crypto Tokens In No-Action Letters - Kramer Levin Naftalis & Frankel LLP
The Securities and Exchange Commission (SEC or Commission) has been accused of "regulation by enforcement" when it comes to the standard for determining whether a crypto token is a security.
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