Jesse Hamilton is CoinDesk's deputy managing editor for global policy and regulation. He doesn't hold any crypto.
A Republican lawyer and crypto defender who hopes to be Sen. Elizabeth Warren's opponent in the Massachusetts Senate race has filed a supporting brief in a Coinbase clash against the Securities and Exchange Commission.
Deaton is arguing in favor of the exchange's effort, saying the SEC is taking an unconstitutional shortcut in its accusations that certain token trading violates securities laws.in Coinbase Inc.'s effort to get a higher U.S. court to rule on a central question about when a digital token qualifies as a security.
Deaton contended that the"politically driven, compromised agency" leans on its interpretations of the legal tool known as the Howey test to define tokens permanently as securities, which is beyond its authority.
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