SEC Sued by Crypto Giant
Singapore-based cryptocurrency giant Crypto.com has filed a lawsuit against the U.S. Securities and Exchange Commission, according to a Tuesday announcement made by CEO Kris Marszalek.
Marszalek described the legal action as “unprecedented,” arguing that it is a “warranted response” to the agency’s controversial regulation-by-enforcement approach. The Crypto.com cofounder claims that this approach has hurt tens of millions of American cryptocurrency holders.
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Crypto.com, which boasts more than 80 million customers around the world, has accused the formidable regulator of inappropriately expanding the boundaries of its jurisdiction beyond the limits of the existing statutory authority.
“The SEC’s unauthorized overreach and…
