In this episode of Crypto Exchange, Ethan Ostroff and Alexandra Barrage are joined by partners Joanna Cline and Jay Dubow to discuss the evolving landscape of the SEC’s enforcement actions involving cryptocurrencies.

The episode highlights the demand for clear regulatory guidelines in the digital asset space, particularly regarding the classification of tokens and cryptocurrencies as securities. The recent establishment of the SEC’s cryptocurrency task force and public statements from key figures, including SEC commissioners and the newly nominated SEC chair Paul Atkins, signal a potential shift in regulatory approach.

The discussion covers the SEC’s historical reliance on enforcement actions, the impact of recent administrative changes, and the anticipated role of the task force in providing a comprehensive regulatory framework.

Additionally, the episode explores the broader implications of these developments, including potential legislative recommendations and the interplay between various regulatory bodies.


Transcript: Navigating 2025: The SEC’s Evolving Role in Cryptocurrency Enforcement (PDF)

Photo of Ethan G. Ostroff Ethan G. Ostroff

Ethan’s practice focuses on financial services litigation and compliance counseling, as well as digital assets and blockchain technology. With a long track record of successful litigation results across the U.S., both bank and non-bank clients rely on him for comprehensive advice throughout their

Ethan’s practice focuses on financial services litigation and compliance counseling, as well as digital assets and blockchain technology. With a long track record of successful litigation results across the U.S., both bank and non-bank clients rely on him for comprehensive advice throughout their business cycle.

Photo of Joanna Cline Joanna Cline

From arbitration and corporate disputes to complex class actions, clients count on Joanna for proactive, strategic advice and sound, effective advocacy in court.

Photo of Jay Dubow Jay Dubow

Jay co-leads the firm’s Securities Investigations + Enforcement Practice Group. He focuses his practice on complex business litigation, with a special emphasis on defending against shareholder derivative and securities class action litigation. He also represents clients involved in investigations by the U.S. Securities…

Jay co-leads the firm’s Securities Investigations + Enforcement Practice Group. He focuses his practice on complex business litigation, with a special emphasis on defending against shareholder derivative and securities class action litigation. He also represents clients involved in investigations by the U.S. Securities and Exchange Commission (SEC), the Pennsylvania Department of Banking and Securities, and various self-regulatory organizations, including the Financial Industry Regulatory Authority, Inc. (FINRA). He also conducts internal investigations on behalf of clients. Such investigations have included allegations involving the Foreign Corrupt Practices Act (FCPA), whistle blower claims, financial fraud, and civil and criminal violations of various federal and state laws.