TEXAS CRYPTO COMPANY SUES SEC FOR 'OVERREACH' ON DIGITAL ASSETS

Summary from the TLDR Crypto newsletter

Texas-based crypto firm Lejilex and lobby group Crypto Freedom Alliance of Texas have sued the SEC, accusing it of overstepping its authority in regulating digital assets. They contend that the SEC lacks clear jurisdiction over the crypto industry and have asked the court to recognize that digital assets on exchanges not be considered securities. The entities also seek to prevent the SEC from suing its members for listing pre-existing tokens.