U.S. Senator Lummis, Crypto Lobbyists Urge Court to Dismiss SEC’s Coinbase Lawsuit

“It’s beside that common enterprise and that entrepreneurial effort which is the hallmark of investment contracts, which are securities. So I believe that’s where we are, that most of the tokens meet the traditional standards that our Supreme Court has laid out, and that we, the SEC, bear a role to help protect investors and instill and enhance trust in these markets,” he said. “They don’t just smack of securities, they are securities.”