Singapore-based crypto platform files lawsuit against US Securities and Exchange Commission; here’s why
Cryptocurrency trading platform Crypto.com has reportedly filed a case against the US Securities and Exchange Commission (SEC). According to a Reuters report, the Singapore-based company alleges that the federal agency is overstepping its jurisdiction by regulating the cryptocurrency industry. Crypto.com recently received a ‘Wells notice’ from the SEC stating that tokens traded on its platform qualified as securities.For those unaware, a Wells notice is a formal declaration that the regulator’s staff intend to recommend an enforcement action.
Crypto.com CEO responds
Taking to X (formerly Twitter), Crypto.com CEO Kris Marszalek said: “This unprecedented action by our company against a federal agency is a warranted response to the…
