What does the SEC’s warning shot at crypto mean?

Yesterday was a big day for the crypto industry. A former Coinbase product manager was arrested alongside his brother and a friend, and charged with running a cryptocurrency insider trading scheme by the U.S. Department of Justice (DOJ).
At the same time, the U.S. Securities and Exchange Commission (SEC) filed a separate document on the case, designating a number of the assets traded by the group as cryptocurrency securities, a classification that raised eyebrows.
“I think it’s odd the SEC would sue three individuals for violating securities law, arguing that at least nine of the 25 dig

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