The legal debate on whether cryptocurrencies are subject to SEC rules just got more complicated

• A federal judge said the SEC has plausible reason to see Terraform's crypto as a security.
• This goes against another judge's decision last month that said XRP was not a security in some cases.
• The separate findings complicate the regulatory outlook for the crypto industry.

Where one federal judge gave the crypto industry reason to cheer last month, another brought down the gavel through a contradictory ruling on Monday.