*XRP OUTPERFORMS CRYPTO MARKET- WHATS THE REASON BEHIND BIG RALLY*
A major development has shaken the crypto industry, as 18 US states have collectively filed a lawsuit against the Securities and Exchange Commission (SEC) and its top officials, including Chairman Gary Gensler. The states, including Nebraska, Tennessee, Wyoming, Kentucky, West Virginia, Iowa, Texas, Mississippi, Ohio, and Montana, allege that the SEC has engaged in "unconstitutional overreach" in its regulation of the crypto sector.
This bold move comes hot on the heels of speculation surrounding Gensler's potential departure from the agency, as hinted at in The Kobeissi Letter. The lawsuit marks a significant escalation in the ongoing debate over the SEC's jurisdiction and authority in the crypto space.
*States Involved:*
- _Nebraska_
- _Tennessee_
- _Wyoming_
- _Kentucky_
- _West Virginia_
- _Iowa_
- _Texas_
- _Mississippi_
- _Ohio_
- _Montana_
