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The Battle for Crypto Regulation: States vs. SEC
The U.S. Securities and Exchange Commission (SEC) is facing pushback from a coalition of 18 states that are challenging its attempts to assert regulatory control over cryptocurrency markets. This legal action aims to prevent the SEC from enforcing regulations, allowing these states to take charge of crypto oversight instead. Among the plaintiffs is the DeFi Education Fund, which operates as a lobbyist group advocating for decentralized finance interests.
Key Figures in the Controversy
At the center of this lawsuit is Gary Gensler, who serves as chair of the SEC, along with other commissioners within the agency. Gensler’s approach towards cryptocurrency has drawn significant criticism from industry stakeholders and political figures alike, including notable Republicans such as former President Donald Trump.
A Fragmented Regulatory Landscape
This ongoing dispute highlights a broader struggle for authority in regulating cryptocurrencies. Historically, two primary entities have vied for dominance in this space…
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