The Blockchain Association and DeFi Fund have filed an amicus brief in support of cryptocurrency exchange Kraken in its legal battle against the U.S. Securities and Exchange Commission (SEC), accusing the SEC of overreaching its authority by attempting to regulate most digital assets within its jurisdiction. Additionally, attorneys general from several states have filed an amicus brief, arguing that the SEC exceeded its authority in suing Kraken. A group of eight U.S. state attorneys general have claimed that the SEC's actions against Kraken exceed its delegated powers, challenging the SEC's lawsuit and asserting that the SEC should not regulate crypto assets as securities. They urged, "Gary plz stop suing crypto exchanges for existing."
The Attorney Generals of 8 U.S. States are siding with @krakenfx against the SEC. "The SEC’s enforcement action exceeds its delegated powers" they say. Gary plz stop suing crypto exchanges for existing. a) no one asked for that b) you don't even have the authority. https://t.co/Z2ggPCOYF4
A pivotal development: 8 U.S. state attorneys general said the SEC overstepped and have filed a joint amicus brief challenging the SEC's lawsuit against Kraken. The AGs assert that the SEC has exceeded its delegated powers. The SEC shouldn't regulate crypto assets as securities…
A group of eight U.S. state attorneys general claims the Securities and Exchange Commission (SEC) exceeded its authority in its case against cryptocurrency exchange Kraken https://t.co/kFm8fJWO6r
UPDATE: ATTORNEYS GENERAL FROM SEVERAL STATES FILED AN AMICUS BRIEF ARGUING THAT THE US SEC EXCEEDED ITS AUTHORITY IN SUING CRYPTO EXCHANGE #KRAKEN
1/ Today, @BlockchainAssn and @fund_defi filed an amicus brief in support of @krakenfx's fight against the SEC. The case is yet another overreach of authority in the SEC’s long campaign to force most digital assets into its jurisdiction. 🧵 https://t.co/ekYoCGmL5V https://t.co/WRhoLxkAb3
🚨NEW: Crypto trade group @DigitalChamber has filed an amicus brief on behalf of @krakenfx in the exchange’s challenge to the @SECGov’s enforcement action against it. 👇🏼 https://t.co/StIuNMBnft