The U.S. Securities and Exchange Commission (SEC) is too tough on crypto, 18 Attorneys General allege in a new lawsuit.
What Happened: AGs from 18 Republican-leaning states joined the DeFi Education Fund to file a lawsuit against the SEC for what they consider overly harsh regulation against digital assets.
The plaintiffs are complaining that the SEC, led by Chairman Gary Gensler, is exceeding its authority in an attempt to regulate the entire cryptocurrency sector.
The lawsuit contends that the SEC’s expansive approach lacks Congressional authorization, which would be necessary for it to assume such sweeping control.
Also Read: Pennsylvania Introduces Bitcoin Strategic Reserve Act To Invest Up To $700 Million In BTC
According to the states, the SEC’s “regulation by …
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