Crypto.com has just announced that it has taken legal action against the SEC after receiving a notice from the agency indicating its intention to take enforcement action against the platform.
In a statement, the company expressed its disappointment with the SEC's actions and stated that it had no choice but to take legal action after receiving a Wells notice.
Subscribe to our Telegram channel to get weekly short digests about events that shape the crypto world
According to Crypto.com, the decision to sue the SEC was prompted by the agency's unfair and unauthorized regulatory campaign, despite bipartisan support for a broader and more effective approach to regulating cryptocurrencies in the US.
Access more than 50 of the world's financial markets directly from your EXANTE account – including NASDAQ, London Stock Exchange and Tokyo Stock Exchange
The company's lawsuit argues the SEC has overextended its authority and disagrees with the agency's classification of most cryptocurrencies as securities.