Crypto.com’s Sports Deals Top $1B as Company Sues SEC
Crypto.com, whose prominent sports partnerships include UFC and naming rights to the Los Angeles Lakers’ arena, is suing the U.S. government claiming it is overstepping its jurisdiction regarding cryptocurrencies and securities law.
The company’s suit, announced Tuesday morning, comes immediately after the U.S. Securities and Exchange Commission (SEC) served it with a Wells notice, an indication that the commission has wrapped up an investigation and is likely to charge the company with securities violations. Crypto.com claims the SEC is illegally acting outside of its authority, is using legal action as a substitute for rulemaking, and that the company’s tokens are not securities under federal law.
“We are…
