Crypto.com has received a Wells Notice from the U.S. Securities and Exchange Commission (SEC), signaling that the agency may bring legal action against the company. The SEC's scrutiny centers around allegations that several of Crypto.com's products, such as its staking and lending offerings, might qualify as unregistered securities. This move is part of a broader regulatory clampdown on crypto platforms in the U.S.

In response, Crypto.com has taken legal action against the SEC, claiming that the agency is overreaching its authority by broadly categorizing most cryptocurrency transactions as securities, except for Bitcoin and Ethereum. Crypto.com is also seeking clarity on the regulation of crypto derivatives through a petition filed with the Commodity Futures Trading Commission (CFTC). The lawsuit challenges the SEC’s enforcement tactics, arguing they lack a proper legal foundation​

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