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Gus at True Ventures
@gus
How it used to be: SEC investigation begins. Sometimes enforcement decides not to proceed. Sometimes it does and there's a Wells notice to give the company a chance to respond. Sometimes the Wells process gets enforcement to change its mind. Sometimes it doesn't, and there's a settlement or lawsuit.
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Gus at True Ventures
@gus
How it is now (with crypto): The SEC's mind is already made up—there's going to be an enforcement action. There's no convincing the enforcement staff that it's barking up the wrong tree. Buckle up for a lawsuit.
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