“Our lawsuit contends that the SEC has unilaterally expanded its jurisdiction beyond statutory limits and separately that the SEC has established an unlawful rule that trades in nearly all crypto assets are securities transactions no matter how they are sold, whereas identical transactions in bitcoin (BTC) and ether (ETH) are somehow not,” reads the filing.
Crypto.com has filed a suit against the US Securities and Exchange Commission (SEC) after receiving a Wells notice from SEC. A Wells notice is a letter sent by the SEC that states that the commission is planning to initiate enforcement against the recipient.
By filing the suit, Crypto.com joins its peers to “protect the future of the crypto industry” in the US, it says in its Oct 8 statement.
