A US federal court has paused a lawsuit filed by 18 state attorney generals against the Securities and Exchange Commission (SEC) due to a change in agency leadership.
Reasons for Case Suspension
Kentucky District Court Judge Gregory Van Tatenhove ordered a 60-day stay on the case on April 16, noting that "this case could potentially be resolved" due to the leadership transition at the SEC.
New SEC Chairman
Paul Atkins, a Wall Street adviser and a past member of various crypto advocacy groups, was sworn in as the new SEC chair earlier this month, replacing acting chair Mark Uyeda.
Update on Other Lawsuit
Meanwhile, the DeFi Education Fund, Blockchain Association, and Texas Blockchain Council dropped their lawsuit against the Internal Revenue Service (IRS) on April 16, citing that the case had become moot.
The suspension of the lawsuit against the SEC and other legal updates highlight potential shifts in the regulation of the cryptocurrency sector under new leadership.
