18 U.S. states sue SEC, alleging overreach in crypto regulation

Fox Business reporter Eleanor Terrett posted on X that 18 U.S. states have filed a lawsuit against the SEC and its commissioners, accusing the agency of unconstitutional overreach in its regulation of the crypto industry. The lawsuit, led by 18 Republican Attorneys General, claims the SEC's "regulation by enforcement" approach under Chair Gary Gensler infringes on states' rights to regulate their own economies.