Eighteen U.S. states have filed a lawsuit against the SEC and its chair, Gary Gensler, accusing him of overreaching control over the crypto industry.
Reasons for the Lawsuit
The initiative was led by Republican attorneys general, claiming Gensler enforces market control excessively, interfering with states' economic autonomy.
Complaints Against Gensler
Critics say Gensler's 'regulation by enforcement' approach undermines state rights and the original SEC mandate. They accuse him of more control-driven tactics rather than investor protection.
Crypto Industry Reaction
For the crypto industry, Gensler has become public enemy number one. His numerous lawsuits against major players are viewed as an attempt to suppress business under legal threats.
This lawsuit might become a critical point in the battle for state rights and the future regulation of the crypto industry in the U.S. It also raises the demand for clear and transparent regulatory rules.
