The SEC's sweeping assertion of regulatory jurisdiction is untenable. The digital assets implicated here are just that - assets, not investment contracts covered by federal securities laws.
DeFi, and crypto broadly, promises to make financial services and the digital economy more accessible, efficient, interoperable, dependable, and consumer-focused. The SEC currently stands as a barrier to realizing this promise.
The suit argues that the SEC's 'crypto policy' is 'unlawful executive action' and violates the Administrative Procedures Act.
The lawsuit asserts the SEC's approach to crypto encroaches upon states' rights to police the industry on their own.
Collection
[
|
...
]