Crypto.Com Challenges SEC’s Reach Over Crypto Regulations
What’s going on here?
Crypto.com has filed a legal challenge against the US Securities and Exchange Commission (SEC), accusing it of overreaching in its regulatory role concerning cryptocurrencies.
What does this mean?
Crypto.com’s lawsuit highlights ongoing tensions between the crypto industry and regulators. The firm received a Wells notice indicating the SEC’s intention to classify tokens on its platform as securities – a move Crypto.com believes lacks legal basis. This issue isn’t isolated: Robinhood, Coinbase, and OpenSea have faced similar regulatory hurdles. By confronting the SEC in a Texas federal court and including its Chair Gary Gensler and commissioners as defendants, Crypto.com aims to shape future regulatory actions. The…
