<ul><li>The SEC clarifies its usage of the term 'crypto asset securities' in a court filing.</li><li>Industry participants criticize the SEC for its explanation, stating it contradicts itself.</li><li>The SEC defines 'crypto asset securities' as the full set of contracts and expectations related to sales and distribution.</li><li>The SEC is facing criticism for its enforcement-based approach towards regulating the cryptocurrency industry.</li></ul>

SEC Clarifies Its Usage of “Crypto Asset Securities,” Drawing Major Criticism From Industry Participants

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