Crypto could get a second wind in the US as courts 'check the SEC' – Lawyer

Cryptocurrency lawyer Jeremy McLaughlin says the U.S. digital asset industry could rebound as the body The country's securities regulator racks up court losses.

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There are hopes the U.S. could experience another crypto resurgence after several rulings this year saw court judges “overpower the SEC,” according to a K&L Gates digital asset attorney.< /p>

On August 31, Jeremy McLaughlin, a partner at the international law firm, noted that several US court cases had trampled on the arguments of Securities and Exchange Commission Chairman Gary Gensler, who said that almost all digital assets were titles.

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McLaughlin was speaking at a panel at Intersekt23 in Melbourne alongside Effie Dimitropoulos, director of payment services company Novatti, and King Leung, chief financial technology officer of Invest Hong Kong.< /p>

He said the first crypto regulations happened at the state level and he was “pretty clear what you need to do,” but after the SEC and the Commodity Futures Trading Commission got involved, “a lot of the market started to close.”

“People delisted tokens, some companies pulled out of the US because they saw how aggressive the SEC was and continues to be,” McLaughlin said.

"Now that the courts are starting to scrutinize the SEC a bit, I think there is some hope that the industry will reignite again in the United States."

In recent months, the SEC suffered a loss in a lawsuit filed against a crypto firm and also lost a lawsuit filed by a crypto firm against it.

On August 29, a U.S. District Court judge ruled against the SEC over Grayscale Investments' denial of its request to convert its flagship Bitcoin (BTC) fund to an exchange-traded fund.

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Dimitropoulos (center-...