đš BREAKING: Crypto.com Sues SEC! The XRP ETF Race Heats Up! đš
Crypto.com has officially filed a lawsuit against the U.S. Securities and Exchange Commission (SEC), citing regulatory overreach as the basis for its legal action. This lawsuit comes after Crypto.com received a Wells notice from the SEC, which typically indicates potential enforcement actions regarding securities laws.
Kris Marszalek, co-founder and CEO of Crypto.com, stated that the lawsuit aims to protect the future of the cryptocurrency industry in the U.S. and challenge the SEC's classification of most cryptocurrencies as securities without proper legal framework or public input. Crypto.com argues that the SEC has exceeded its jurisdiction, particularly by treating transactions involving cryptocurrencies as securities transactions while excluding Bitcoin and Ethereum from this classificationâ
The lawsuit seeks to halt what Crypto.com deems unlawful actions by the SEC and argues that the agency's rules are arbitrary and not based on sound legal principlesâ This move is part of a larger trend among cryptocurrency companies to challenge regulatory actions they view as detrimental to the industry.
Stay tuned as we monitor this critical situation!
#Crypto #XRP #SEC #CryptoNews #Binance
