Howard Fischer authored an article titled, "The War on Crypto Isn’t Ending. It’s Just Changing Battlefields."

While some believe a new “golden era” for digital assets is here under a more crypto-friendly SEC, legal risks remain. Court rulings from the prior administration still hold that most digital assets qualify as securities, and states like New York and Oregon are stepping in with their own aggressive enforcement. Meanwhile, many former SEC lawyers are joining the plaintiff’s bar, bringing deep securities expertise to private litigation. Federal oversight may wane, but state actions and private lawsuits ensure the fight over crypto regulation is far from over—it’s simply moving to new arenas.