SEC Improperly Asserts Authority Over Crypto Futures, Suit Says
Bitnomial Exchange LLC, already approved by a commodities regulator to sell futures contracts on digital assets, is seeking a court order to keep the SEC from regulating it as a securities exchange.
The Securities and Exchange Commission is improperly asserting jurisdiction over a product that’s exclusively governed by the Commodity Futures Trading Commission, Bitnomial says in its complaint, filed Thursday in the US District Court for the Northern District of Illinois.
The suit is the latest development as the $2 trillion cryptocurrency industry takes the offense in its effort to fight SEC control. Crypto.com, formally known as Foris DAX Inc., …
