Friday, June 6, 2025
No Result
View All Result
Coins League
  • Home
  • Bitcoin
  • Crypto Updates
    • Crypto Updates
    • Altcoin
    • Ethereum
    • Crypto Exchanges
  • Blockchain
  • NFT
  • DeFi
  • Metaverse
  • Web3
  • Scam Alert
  • Regulations
  • Analysis
Marketcap
  • Home
  • Bitcoin
  • Crypto Updates
    • Crypto Updates
    • Altcoin
    • Ethereum
    • Crypto Exchanges
  • Blockchain
  • NFT
  • DeFi
  • Metaverse
  • Web3
  • Scam Alert
  • Regulations
  • Analysis
No Result
View All Result
Coins League
No Result
View All Result

Crypto.com Files Suit Against SEC After Receiving Wells Notice

October 8, 2024
in Bitcoin
Reading Time: 2 mins read
0 0
A A
0
Home Bitcoin
Share on FacebookShare on TwitterShare on E Mail


On Tuesday, digital asset trade Crypto.com turned the most recent goal of the US Securities and Change Fee (SEC), which has been more and more using a regulation-by-enforcement technique over the previous yr. This newest motion follows the SEC’s earlier scrutiny of buying and selling platforms, together with Robinhood, only a few months in the past. 

Crypto.com Accuses SEC Of Overreach

In response to receiving a Wells Discover from the SEC, Crypto.com has filed a lawsuit towards the regulatory physique, aiming to safeguard the way forward for the cryptocurrency business in the US. In its assertion, Crypto.com emphasised the need of the authorized motion, stating: 

We’re doing so to guard the way forward for the crypto business within the US, becoming a member of a sequence of our friends who’re actively defending themselves towards a misguided federal company appearing past its authorization underneath the legislation.

The trade argues that the SEC is overstepping its jurisdiction and has unilaterally expanded its authority to categorise practically all cryptocurrency transactions as securities, aside from these involving Bitcoin (BTC) and Ethereum (ETH). 

This distinction, they declare, lacks a strong authorized foundation and fails to stick to required regulatory procedures, together with the notice-and-comment rule mandated by the Administrative Process Act.

Crypto.com contends that the SEC’s enforcement actions are “arbitrary and capricious,” significantly provided that many cryptocurrencies share traits and transactional strategies just like these of BTC and ETH. The trade seeks to halt what it describes because the SEC’s illegal actions that exceed its statutory authority and violate federal legislation.

 Push For CFTC Oversight Of Crypto Derivatives

Along with the lawsuit, Crypto.com | Derivatives North America (CDNA) has filed a petition with each the Securities and Change Fee and the Commodity Futures Buying and selling Fee (CFTC). 

This petition goals to make clear the regulatory framework governing sure cryptocurrency by-product merchandise, advocating for a joint interpretation that may designate these merchandise as solely underneath the jurisdiction of the CFTC. 

The companies concerned have 120 days to reply, both by issuing a collectively accredited interpretation or by offering written causes for any denial.

The 1D chart reveals CRO’s value trending downwards. Supply: CROUSDT on TradingView.com

On the time of writing, Crypto.com’s ecosystem token Cronos (CRO) is buying and selling at $0.075, down 5% within the final hour. 

Featured picture from DALL-E, chart from TradingView.com



Source link

Tags: Crypto.comfilesnoticereceivingSECSuitWells
Previous Post

Crypto.com sues the US SEC after Wells notice

Next Post

Solv Launches Staking Abstraction Layer (SAL) with BNB Chain, Ceffu, and Chainlink, Paving the Way for Mass Adoption of Bitcoin Staking

Related Posts

Alleged Crypto Kidnapping Boss Captured
Bitcoin

Alleged Crypto Kidnapping Boss Captured

June 6, 2025
Bitcoin Is An Unreplicable Lifeline In Authoritarian Regimes
Bitcoin

Bitcoin Is An Unreplicable Lifeline In Authoritarian Regimes

June 6, 2025
Messari Flags XRP’s Silent Rise As A Treasury Favorite—Here’s Why
Bitcoin

Messari Flags XRP’s Silent Rise As A Treasury Favorite—Here’s Why

June 5, 2025
Uber Eyes Stablecoins to Cut Global Payment Costs, CEO Says Bitcoin Is a ‘Proven Commodity’
Bitcoin

Uber Eyes Stablecoins to Cut Global Payment Costs, CEO Says Bitcoin Is a ‘Proven Commodity’

June 5, 2025
Zora Takes Off, Up 30% In 3 Days: Will Their Pivot To Creator Coins Pay Off?
Bitcoin

Zora Takes Off, Up 30% In 3 Days: Will Their Pivot To Creator Coins Pay Off?

June 5, 2025
XRP Price Enters Accumulation Phase – Why $2.08 Must Hold Or Risk A Crash
Bitcoin

XRP Price Enters Accumulation Phase – Why $2.08 Must Hold Or Risk A Crash

June 5, 2025
Next Post
Solv Launches Staking Abstraction Layer (SAL) with BNB Chain, Ceffu, and Chainlink, Paving the Way for Mass Adoption of Bitcoin Staking

Solv Launches Staking Abstraction Layer (SAL) with BNB Chain, Ceffu, and Chainlink, Paving the Way for Mass Adoption of Bitcoin Staking

Bitcoin’s Short-Term Rally Incoming? Expert Projects 60% BTC Growth In Q4

Bitcoin's Short-Term Rally Incoming? Expert Projects 60% BTC Growth In Q4

Trick or Treat: Investing Habits That Can Make or Break Your Portfolio

Trick or Treat: Investing Habits That Can Make or Break Your Portfolio

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Twitter Instagram LinkedIn RSS Telegram
Coins League

Find the latest Bitcoin, Ethereum, blockchain, crypto, Business, Fintech News, interviews, and price analysis at Coins League

CATEGORIES

  • Altcoin
  • Analysis
  • Bitcoin
  • Blockchain
  • Crypto Exchanges
  • Crypto Updates
  • DeFi
  • Ethereum
  • Metaverse
  • NFT
  • Regulations
  • Scam Alert
  • Uncategorized
  • Web3

SITEMAP

  • Disclaimer
  • Privacy Policy
  • DMCA
  • Cookie Privacy Policy
  • Terms and Conditions
  • Contact us

Copyright © 2023 Coins League.
Coins League is not responsible for the content of external sites.

No Result
View All Result
  • Home
  • Bitcoin
  • Crypto Updates
    • Crypto Updates
    • Altcoin
    • Ethereum
    • Crypto Exchanges
  • Blockchain
  • NFT
  • DeFi
  • Metaverse
  • Web3
  • Scam Alert
  • Regulations
  • Analysis

Copyright © 2023 Coins League.
Coins League is not responsible for the content of external sites.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In