In a Bloomberg Law article, litigation & enforcement partner Helen Gugel commented on litigation in Texas federal district court involving a lawsuit brought by trading platform Crypto.com against the U.S. Securities and Exchange Commission.
Crypto.com sued the SEC after receiving a Wells notice, which indicated the regulator’s plan to bring an enforcement action against the digital asset exchange for operating as an unregistered broker-dealer and securities clearing agency.
“In response to what some have called the SEC’s war on crypto, some market participants have strategically filed suits against the SEC in jurisdictions that are considered to be more receptive to claims of regulatory overreach,” said Helen.
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