Crypto.com Sues SEC Over Crypto Regulation After Wells Notice
Key Takeaways
- Cryptocurrency exchange Crypto.com has sued the SEC, indicating it believes the agency has overstepped its legal boundaries in regulating the crypto industry.
- The lawsuit was filed Tuesday after the SEC earlier sent Crypto.com a Wells Notice, which informs the recipient that the SEC is considering formal legal action against it.
- Crypto.com’s lawsuit says the SEC has been inconsistent in its application of securities law to crypto, stating that other crypto assets deserve the leeway given to bitcoin and Ethereum’s token.
- Blockchain technology company Consensys also preemptively sued the SEC after receiving a Wells Notice earlier in the year.
Cryptocurrency exchange Crypto.com on Tuesday sued the U.S. Securities and Exchange…
