Lawyers Say Fuse Case Was ‘Easy,’ but the Signal Matters
Crypto-Detective
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Crypto attorneys reacted quickly to the Fuse decision, noting the token was clearly non-security under Howey. While the letter sets no new precedent, it reinforces that the SEC’s new leadership—under Chair Paul Atkins and crypto advocate Hester Peirce—is willing to engage constructively with builders. Many teams are now considering their own no-action requests.
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Sometimes the message behind the ruling is more important than the ruling itself.
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Even a simple case can set big precedents in crypto law.