Republican States Pause Lawsuit Against SEC Over Crypto Regulation
- The lawsuit filed by 18 republican states against the US SEC is suspended as new leadership is in place.
- 18 state attorneys filed it against the SEC in November 2024 for suing crypto exchanges.
The US federal judge paused the ongoing lawsuit against the SEC as there is a new leadership in place after Trump’s re-election. Attorneys from 18 US states filed this case in 2024 to fight the harsh stance of the SEC towards crypto firms in the country. Since the SEC is taking a new approach towards crypto regulation with new leadership, the federal judge paused the lawsuit.
Kentucky District Court Judge Gregory Van Tatenhove paused the lawsuit for 60 days in the latest hearing. The reason behind the pause is the anticipation that the case could potentially resolve with the new leadership of the SEC. As per the order, both parties must file a joint report within 30 days to confirm that the case is being resolved.
Attorney Generals (AGs) from 18 US republican states filed the lawsuit against the SEC, along with the DeFi Education Fund. All of them belong to the Republican Party in the US. They accused the SEC of overstepping its boundaries, filing lawsuits against crypto exchange platforms.
This incident took place after Trump’s re-election in the US in Nov 2024. Though it’s been months since the beginning of Trump’s presidency in the US, the SEC leadership is about to change with Paul Atkins’ recent confirmation as the SEC chair.
DeFi Education Fund Dropped Another Lawsuit
The DeFi Education Fund also dropped another lawsuit against the IRS yesterday. It filed a separate lawsuit against the agency in December 2024, alleging that the IRS went beyond its authority.
Donald Trump recently repealed the IRS broker rule and reversed the policy introduced in the Biden administration. DeFi protocols do not need to report transactions to the IRS anymore. Trump’s administration has dropped numerous lawsuits against crypto firms and entities this year.
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Republican States Pause Lawsuit Against SEC Over Crypto Regulation
- The lawsuit filed by 18 republican states against the US SEC is suspended as new leadership is in place.
- 18 state attorneys filed it against the SEC in November 2024 for suing crypto exchanges.
The US federal judge paused the ongoing lawsuit against the SEC as there is a new leadership in place after Trump’s re-election. Attorneys from 18 US states filed this case in 2024 to fight the harsh stance of the SEC towards crypto firms in the country. Since the SEC is taking a new approach towards crypto regulation with new leadership, the federal judge paused the lawsuit.
Kentucky District Court Judge Gregory Van Tatenhove paused the lawsuit for 60 days in the latest hearing. The reason behind the pause is the anticipation that the case could potentially resolve with the new leadership of the SEC. As per the order, both parties must file a joint report within 30 days to confirm that the case is being resolved.
Attorney Generals (AGs) from 18 US republican states filed the lawsuit against the SEC, along with the DeFi Education Fund. All of them belong to the Republican Party in the US. They accused the SEC of overstepping its boundaries, filing lawsuits against crypto exchange platforms.
This incident took place after Trump’s re-election in the US in Nov 2024. Though it’s been months since the beginning of Trump’s presidency in the US, the SEC leadership is about to change with Paul Atkins’ recent confirmation as the SEC chair.
DeFi Education Fund Dropped Another Lawsuit
The DeFi Education Fund also dropped another lawsuit against the IRS yesterday. It filed a separate lawsuit against the agency in December 2024, alleging that the IRS went beyond its authority.
Donald Trump recently repealed the IRS broker rule and reversed the policy introduced in the Biden administration. DeFi protocols do not need to report transactions to the IRS anymore. Trump’s administration has dropped numerous lawsuits against crypto firms and entities this year.
Highlighted Crypto News Today:
Base’s Unofficial Token Sparks Market Frenzy, Crashes 92% in Hours
Read More
US SEC Plans to Host Third Crypto Roundtable on April 25