Some of the worst lawyers in the government.
These are the same folks that pissed off a federal judge so badly that he ruled all “joint ventures” to fail the ‘no direct participation’ element of the Howey Test. The oil and gas pirates were pleased with the SEC’s incompetence...
They should stick to watching porn.
The SEC takes the ridiculous position that most cryptocurrencies are securities. In no other country on earth are they considered securities.
As such, the SEC has been on a 2+ year vendetta against Ripple and their XRP Token. This is just another attempted power grab by the feds. They want to clear the way for their CBDC by wiping out as many crypto currencies as they possibly can. It is vital that they lose this case and it appears extremely likely they will.