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18 U.S. States Sue SEC and Gary Gensler Over Crypto Industry Persecution

Nov 14, 2024, 07:52 PM

Eighteen U.S. states have collectively filed a lawsuit against the Securities and Exchange Commission (SEC) and its commissioners, accusing the agency of unconstitutional overreach and unfair persecution of the cryptocurrency industry. The lawsuit, signed by 18 Republican Attorneys General, specifically targets the leadership of SEC Chair Gary Gensler. The states allege that the SEC's actions under Gensler's leadership have been excessively punitive and have overstepped legal boundaries, impacting the growth and regulation of the crypto sector. The news was first reported by Fox Business.