Crypto.com has initiated a lawsuit against the U.S. Securities and Exchange Commission, contesting its jurisdictional claims.

Crypto.com’s Commitment to Compliance

Recently, Crypto.com received a notice from the SEC regarding possible infractions on its platform. In response, the company filed a lawsuit seeking judicial protection and urging the SEC not to overstep its authority. Crypto.com emphasizes its dedication to safety and regulatory compliance, referencing over 100 approvals in various countries.

Business as Usual Amid Legal Challenges

Despite legal challenges, Crypto.com continues its operations. The exchange also sought clarification from the CFTC concerning jurisdiction over certain products. Crypto.com hopes the U.S. judiciary will affirm the legality of its operations.

Market Reactions

Following CEO Kris Marszalek's announcement of the lawsuit, the market reacted negatively, with Cronos (CRO) falling 4.7%. As of the time of writing, it trades at $0.075, down 6.25% in the last 24 hours.

The litigation between Crypto.com and the SEC could set a new precedent in U.S. cryptocurrency regulation, impacting the future operations of the exchange.