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International Business Times
International Business Times
Business
Marvie Basilan

SHOCKING: Lejilex cfat challenge sec s authority to regulate digital assets | Mind Blowing Facts

SEC Lawsuit United States DEBT Box Crypto SBF
The seal of the U.S. Securities and Exchange Commission (SEC) is seen at their headquarters in Washington, D.C. (Credit: Reuters)

KEY POINTS

  • The suit alleges that SEC has been "increasingly aggressive" in its enforcement actions in the past two years
  • It argued that Congress has not provided the regulator with "broad authority" over digital assets regulation
  • CFAT is an association that advocates for "sensible" crypto and digital asset regulation

Digital assets company Lejilex and non-profit trade association Crypto Freedom Alliance of Texas (CFAT) have filed a complaint against the Securities and Exchange Commission (SEC), challenging the agency's assertion of its regulatory authority over "practically all digital asset transactions" in the state and across the U.S.

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