Eighteen US states have filed lawsuits against the SEC and its members, accusing them of violating the constitution and exerting unfair pressure on the crypto industry under the leadership of agency chairman Gary Gensler.
The lawsuit, signed by 18 Republican attorneys general, says the agency is engaging in “big government overreach” with its enforcement efforts against the $3 trillion industry, which has resulted in a violation of states’ rights to regulate their economies.
*This is not investment advice.