Law360: SEC Motion Response Could Reveal New Crypto Approach

O’Melveny partner Jorge deNeve, counsel Bill Martin, and associate Shallum Atkinson co-authored this article discussing the US Securities and Exchange Commission’s (SEC) response to Cumberland DRW LLC’s motion to dismiss the SEC’s complaint alleging that the company unlawfully operated as an unregistered dealer when it purchased and sold digital asset securities as part of its business. “Cumberland’s motion to dismiss is representative of the arguments often made in defending against SEC enforcement actions, and to date, the SEC has won more often than not. But this point might become moot since the current administration has indicated a friendlier stance toward the digital asset industry,” they wrote.

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