Crypto.com sues SEC for ‘illegal actions’ in crypto regulation following Wells Notice
Today, Oct. 8, Crypto.com reported it has filed a lawsuit against the US Securities and Exchange Commission to challenge what it describes as the agency’s overreach in regulating the crypto industry. The company aims to protect the future of crypto in the United States by contesting the SEC’s authority and its methods of enforcement. It has demanded a jury trial.
The legal action follows a Wells notice that Crypto.com received from the SEC staff, indicating potential enforcement action. The company argues that the SEC is engaging in unauthorized regulation by enforcement, acting beyond its legal mandate. This move aligns Crypto.com with other industry peers who are actively defending themselves against what they consider ill intent…
