🚨 Big news! 18 states jointly filed a lawsuit to fight against the SEC's cryptocurrency regulatory policy
FOX reporter Eleanor Terret tweeted that 18 states in the United States jointly filed a lawsuit against the SEC (Securities and Exchange Commission), accusing them of "overstepping their authority" and "unfair persecution" in cryptocurrency regulation.
The Republican attorneys general of these states said that the SEC, under the leadership of Gary Gensler, has "seriously overstepped the authority of the government" in regulating the $3 trillion crypto market. They believe that the SEC has violated the rights of states to regulate their own economies and has not respected the existing regulatory framework for digital assets.
Among the states involved in the lawsuit, including Kentucky and Nebraska, they believe that the SEC is trying to "unilaterally seize regulatory power" through law enforcement actions without congressional authorization.
At the same time, Florida, which has always been at the forefront of the digital asset field and even once proposed to include Bitcoin in strategic reserve assets, is also actively participating in this lawsuit.
Even more interesting is that SEC Chairman Gensler recently hinted in a letter that he might resign. The letter reads like a farewell letter, which makes people full of speculation about the future of the SEC.
Over the past nine days, with Trump’s victory in the election, the total cryptocurrency market cap has approached the $3 trillion mark and is currently worth $2.8 trillion. Although digital asset prices have retreated in the last 24 hours, this number is still staggering!
What impact do you think this lawsuit will have on the cryptocurrency market? Do you think the SEC’s regulatory approach needs to change, or should it reduce its regulatory efforts in the market? Leave your thoughts in the comments!
