Crypto.com sues the SEC, which may weaken its regulatory power over the crypto industry

ChainCatcher news, Crypto.com has recently filed a lawsuit against the U.S. Securities and Exchange Commission (SEC), attempting to prevent the agency from bringing cryptocurrency secondary market trading under its jurisdiction. The company has hired former U.S. Attorney General Noel Francisco, indicating that this case is crucial for them.

Crypto.com is seeking a declaratory judgment through a Texas court, which, if successful, could significantly weaken the SEC's regulatory power over the crypto industry. This case is expected to become a pivotal point in changing the regulatory rules of the industry.