🔥18 US States File Lawsuit Against SEC and Chairman Gary Gensler

The states claim that the SEC has "overreached" in enforcing cryptocurrency regulations without congressional approval. They criticize the SEC's unilateral regulatory actions, stripping states of their regulatory authority over the emerging industry.

👉The plaintiffs include states such as Nebraska, Tennessee, Wyoming, Kentucky, West Virginia, Iowa, Texas, Mississippi, Ohio, Montana, and more.

👉The move comes shortly after President-elect Donald Trump announced that he would fire Gary Gensler when he takes office in January 2025, and appoint a more crypto-friendly leader. Trump's announcement was shocking, but the lawsuit makes Gensler's position at the SEC even more precarious.

🤷With the current situation, the question is whether Gary Gensler can maintain his position until the end of his term, or will he have to leave his position earlier due to pressure from both the President-elect and the litigating states?

👍What do you predict for this seat of Mr. Gary Gensle? Let us know in the comments section below.

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