Crypto.com filed a lawsuit against the SEC for classifying cryptocurrencies as securities.
The SEC’s actions have significant implications for the regulatory position of digital assets.
The U.S. regulator investigated the firm in February 2023 and issued a notice in August 2024.
Crypto.com has initiated a lawsuit against the U.S. Securities and Exchange Commission (SEC) for classifying cryptocurrency as a security. The legal battle highlights the ongoing debate over how digital assets are regulated in the U.S.
Under U.S. law, a cryptocurrency is considered a security if it qualifies as an investment contract, wherein investors expect profits based on the efforts of others. The SEC has been working to apply these regulations to cryptocurrencies, aiming to ensure that they meet the existing standards.
Crypto.com Takes Legal Action Against the SEC
On October 10, the CEO of Crypto.com Kris Marszalek announced a lawsuit against the SEC. This marks a significant moment in the ongoing clash between cryptocurrency exchanges and U.S. regulators. The SEC began investigating Crypto.com in February 2023, issuing a notice of enforcement action in August 2024.
T…
The post Crypto.com Sues SEC Over Cryptocurrency Classification as Securities appeared first on Coin Edition.