Crypto.com sues the US stock exchange supervision SEC according to Wells announcement

• COM sued the SEC for exceeding its regulatory powers in relation to cryptocurrencies.
• The lawsuit questions the SEC rules that categorize most crypto transactions as securities.
• Com is looking for clarity about crypto derivatives.

crypto.com today submitted a lawsuit against the US stock exchange supervision SEC (Securities and Exchange Commission) in response to a corrugated announcement from the authority.

according to a Communication Starting from the stock exchange, the complaint aims to contest what crypto.com describes as an assault and misguided regulatory measures Threaten the future of the crypto sector in the United States.

the complaint claims that the SEC has wrongly expanded its area of responsibility by claiming that practically all cryptocurrency transactions are considered as securities, with the exception of affect Bitcoin (BTC) and Ethereum (ETH).

This claim is based on the claim that the SEC has issued an illegal regulation without the required notification and comment period prescribed in the Administrative Procedure Act.

According to Crypto.com, this arbitrary implementation contradicts the basic principles of fair regulatory practices, especially in view of the fact that the properties and sales methods of different crypto-assets are often not to be distinguished from BTC and ETH.

Crypto.com emphasizes that compliance and security have always been a priority, since the company works as a financial service company registered with the Financial Crimes Enforcement Network (fincen) and has over 40 state money transverse licenses. The company sees this lawsuit as a necessary step to stop the measures of the SEC, which in their opinion exceeds their legal powers and violate federal laws.

In addition to the lawsuit, the subsidiary of Crypto.com, Crypto.com | Derivative North America has submitted a petition to the Commodity Futures Trading Commission (CFTC) and the SEC. With this petition, a common interpretation is aimed at, which confirms that certain cryptocurrency derivatives only fall into the responsibility of the CFTC, which further underlines the commitment of Crypto.com for clarifying the regulatory framework for the industry.

While Crypto.com masters this unprecedented legal challenge, the company remains steadfast and confirmed that its commitment to comply with legal regulations will ultimately benefit its customers and the entire crypto ecosystem.

This lawsuit not only underlines the growing tensions between cryptocurrency companies and regulatory authorities, but also illustrates the urgent need for clearer regulations in the rapidly developing digital economy.