Securities
Jul. 26, 2024
Crypto industry demands regulatory clarity amid SEC overreach
A trade association submitted an amicus curiae brief in a case brought by a new digital asset exchange against the SEC, seeking to end the agency’s overreach and regulation by enforcement that has crippled the digital asset industry. The lawsuit aims to bring some regulatory certainty to the crypto industry.
Teresa Goody Guillén
Partner, Baker & Hostetler LLP
Andrew Grossman
Partner, Baker & Hostetler LLP
Isabelle Corbett Sterling
Counsel, Baker & Hostetler LLP
Alexandra Trujillo
Associate, Baker & Hostetler LLP
Christopher Lamb
Associate, Baker & Hostetler LLP
In February 2024, LEJILEX and the Crypto Freedom Alliance of Texas sued the U.S. Securities and Exchange Commission in the Northern District of Texas seeking regulatory clarity amidst the SEC’s aggressive enforcement against the industry. The SEC has increasingly sought to expand its jurisdiction by asserting that most crypto and secondary trading thereof, are “securities”—in particular, “investment contracts”—subject to the SEC’s oversight. LEJILEX intends to launch ...
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