https://techcrunch.com/2022/07/22/what-does-the-secs-warning-shot-at-crypto-mean/

Yesterday was a big day for the crypto industry. A former Coinbase product manager was arrested alongside his brother and a friend, and charged with running a cryptocurrency insider trading scheme by the U.S. Department of Justice (DOJ).

At the same time, the U.S. Securities and Exchange Commission (SEC) filed a separate document on the case, designating a number of the assets traded by the group as cryptocurrency securities, a classification that raised eyebrows.