> It is a fundamental principle of administrative law that agencies must treat like cases alike. This is from the circuit judge and is a big part of the proble

> It is a fundamental principle of administrative law that agencies must treat like cases alike. This is from the circuit judge and is a big part of the problem the SEC faces. The SEC has expanded its jurisdiction so far that it must discriminate between favoured and disfavored entities. From the perspective of the SEC, it’s necessary in the face of innovation and the risks of new players. However it also means their legal footing regarding crypto generally is quite weak, as seen both here and in the recent ripple case (court ruled that investment contracts about digital assets are securities, but the actual assets are not securities).