The plaintiffs include Nebraska, Tennessee, Wyoming, Kentucky, West Virginia, Iowa, Texas, Mississippi, Ohio, Montana, and others.
The legal complaint reads:
"The Securities and Exchange Commission (SEC) has not respected this allocation of authority.
Instead, without Congressional authorization, the SEC has sought to unilaterally wrest regulatory authority away from the States through an ongoing series of enforcement actions."
According to the Blockchain Association, the Securities and Exchange Commission's various legal actions against the crypto industry cost crypto firms a collective $426 million bill to fight against the regulatory agency's enforcement actions and lack of clarity on a coherent digital asset policy.
Buh-bye, Gary!