The U.S. Securities and Exchange Commission seal. Photo: Diego M. Radzinschi/ALM Crypto.com Becomes Latest Industry Player to Sue the SEC
"The outcome of this case could have far-reaching implications, not just for Crypto.com, but for the broader crypto industry, particularly as it relates to secondary-market transactions and how they're regulated," said Tonya M. Evans, a professor at Penn State Dickinson Law whose research includes digital assets.
October 08, 2024 at 03:06 PM
4 minute read
Cryptocurrency
What You Need to Know
- Crypto.com confirmed that on Aug. 22 it received a Wells notice from the U.S. Securities and Exchange Commission.
- Rather than waiting to be sued or reacting defensively, Crypto.com sued the SEC in the U.S. District Court for the Eastern District of Texas.
Crypto.com confirmed Tuesday that it received a Wells notice from the U.S. Securities and Exchange Commission and went on the offensive in filing a complaint in a federal district court in Texas against the agency, arguing that it "overstepped its authority by claiming most crypto transactions are securities."
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