Crypto.com files lawsuit against the SEC
Singapore-based cryptocurrency exchange Crypto.com has initiated a lawsuit against the US SEC after receiving a legal threat from the regulator.
This action aligns with similar measures taken by other industry players who are challenging what they perceive as overreach by the SEC. The lawsuit follows the issuance of a Wells notice from SEC staff, and while Crypto.com asserts that pursuing legal action against a federal agency is unprecedented for them, they expressed that they felt compelled to respond to the SEC’s treatment of the industry.
The main point of the lawsuit is the assertion that the SEC has extended its jurisdiction beyond what is legally permissible. Furthermore, the lawsuit claims the SEC has implemented an…
