In Episode 2 of the CryptoCounsel, hosts Josh and Frank decode recent litigation with the SEC and two key cases in the Southern District of New York. In the first case, a judge found that Ripple’s cryptocurrency XRP is not a security when sold to individual investors. But in the second case, a different SDNY judge found that 13 of Coinbase's listed cryptocurrencies are securities. These divergent cases underscore the complexity and uncertainty of applying existing securities laws to cryptocurrencies, which will continue to be contested in the courts.