2024

United

Bitcoin

<h4><strong>Crypto.com believes this action is necessary to protect the future of the cryptocurrency industry in the United States. </strong></h4>
<p>They are joining other companies in standing up to what they see as a federal agency overstepping its bounds.</p>
<h5><strong>Crypto.com Takes On the SEC</strong></h5>
<p>The exchange is <a href="https://crypto.com/company-news/complaint" target="_blank" rel="noopener noreferrer nofollow">responding</a> to a Wells notice they received from the SEC. This indicates that the agency is trying to impose rules that they believe are unfair and not legally justified.</p>
<p>Crypto.com argues that the SEC is trying to extend its authority beyond what the law allows. They claim that the SEC has created a confusing rule stating that most trades involving cryptocurrencies are considered securities transactions. However, similar transactions with popular cryptocurrencies like Bitcoin (BTC) and Ether (ETH) are not treated the same way. This inconsistency, according to Crypto.com, is unfair and doesn’t follow the proper legal processes.</p>
<blockquote class="twitter-tweet">
 <p dir="ltr" lang="en">Today, <a href="https://t.co/pFc4Pz9nFR" rel="noopener noreferrer nofollow">https://t.co/pFc4Pz9nFR</a> filed suit against the SEC to protect the future of crypto in the U.S.: <a href="https://t.co/kXxyhF7zFe" rel="noopener noreferrer nofollow">https://t.co/kXxyhF7zFe</a></p>
 <p>— Kris | Crypto.com (@kris) <a href="https://twitter.com/kris/status/1843642492518051978?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">October 8, 2024</a></p>
</blockquote>
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<p>The <a href="https://www.altcoinbuzz.io/?s=sec" target="_blank" rel="noopener noreferrer nofollow">SEC</a> didn’t allow the public to comment on this new rule, which is something that should have happened under federal law. Crypto.com feels that the SEC’s actions are not only arbitrary but also go against the law.</p>
<p>In their lawsuit, Crypto.com wants to put a stop to what they see as the SEC’s illegal actions. They believe these actions threaten the entire crypto industry and make it hard for legitimate businesses to operate. They have made detailed information about their lawsuit available to the public, highlighting their concerns about the SEC’s approach to regulation.</p>
<blockquote class="twitter-tweet">
 <p dir="ltr" lang="en"><a href="https://t.co/5IAvDaScly" rel="noopener noreferrer nofollow">https://t.co/5IAvDaScly</a> just filed a lawsuit against the SEC, asserting that the agency lacks the authority from Congress to regulate secondary market sales of crypto and challenging its ongoing practice of using enforcement actions to unlawfully expand its oversight of the… <a href="https://t.co/QvYM9vasgO" rel="noopener noreferrer nofollow">https://t.co/QvYM9vasgO</a></p>
 <p>— justin wales (@bitcoin_wales) <a href="https://twitter.com/bitcoin_wales/status/1843642770680099295?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">October 8, 2024</a></p>
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<p>Additionally, Crypto.com’s North American division has reached out to both the SEC and the <a href="https://www.cftc.gov/" target="_blank" rel="noopener noreferrer nofollow">Commodity Futures Trading Commission (CFTC)</a> with a petition. They want to clarify that certain cryptocurrency products should only be regulated by the CFTC. By using this petition under the Dodd-Frank Act, they hope to bring more clarity to the rules governing the industry.</p>
<p>This joint rulemaking allows anyone to ask the SEC and CFTC whether a product is a “swap” or a “security-based swap.” If the agencies deny this request, they must provide a written explanation.</p>
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<h6><strong>Disclaimer</strong></h6>
<p>The information discussed by Altcoin Buzz is not financial advice. This is for educational, entertainment, and informational purposes only. Any information or strategies are thoughts and opinions relevant to the accepted risk tolerance levels of the writer/reviewers and their risk tolerance may be different than yours. We are not responsible for any losses you may incur due to any investments directly or indirectly related to the information provided. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. Copyright Altcoin Buzz Pte Ltd.</p>
<p>The post <a href="https://www.altcoinbuzz.io/cryptocurrency-news/crypto-com-sues-sec-over-regulatory-disputes/" rel="noopener noreferrer nofollow">Crypto.com Sues SEC Over Regulatory Disputes</a> appeared first on <a href="https://www.altcoinbuzz.io" rel="noopener noreferrer nofollow">Altcoin Buzz</a>.</p>

Crypto.com Sues SEC Over Regulatory Disputes

Altcoin Buzz

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