Michael A. Mora

“Gensler's framework will continue to exist and be an option for whoever sits at the SEC going forward,” said Dorothy Lund, a leading expert on securities regulation and professor at Columbia Law School.

“So much credit goes to Shaq personally for wanting to help all of the other victims, and to our federal judges," said Adam Moskowitz, the managing partner at the Moskowitz Law Firm.

“There is a prevailing view that Republicans are not particularly aggressive in enforcement of these types of regulatory cases typically brought by the SEC, and I don't think that's true necessarily—at least in the FCPA space," said Richard Hong, a partner at Morrison Cohen.

“The next chair should: initiate rulemaking, withdraw the pending cases against crypto that do not involve fraud, and balance investor protection with promoting American innovation,” Paul Grewal, the chief legal officer of Coinbase Global Inc., said.

“The next chair should: initiate rulemaking, withdraw the pending cases against crypto that do not involve fraud, and balance investor protection with promoting American innovation,” Paul Grewal, the chief legal officer of Coinbase Global Inc., said.

Gensler made a regulatory choice on the crypto industry that was characteristic of a heated classic debate in administrative law: the degree that you want to consult with the industry in your enforcement, said Dorothy Lund, a leading expert on securities regulation.

“This decision affirms the importance of applying legal frameworks as intended and avoiding the temptation to force novel technologies into ill-fitting regulatory categories,” said Tonya M. Evans, a tenured professor at Penn State Dickinson Law whose research includes digital assets.

“This decision affirms the importance of applying legal frameworks as intended and avoiding the temptation to force novel technologies into ill-fitting regulatory categories,” said Tonya M. Evans, a tenured professor at Penn State Dickinson Law whose research includes digital assets.

“This complaint speaks to your average investor's lack of knowledge or unfamiliarity with these assets, highlighting the importance of diligence and understanding about what you are buying,” said Jonathan Groth, a partner at DGIM Law.

"As the decision correctly recognizes, the meaning of a statute doesn’t change to fit new contexts; it’s up to Congress to make new law to address new problems," said Judd Littleton, a partner at Sullivan & Cromwell and co-head of the Am Law 100 firm's Supreme Court & appellate practice who is not involved in the matter.