Seven U.S. States Challenge SEC's Crypto Regulation with July 10 Brief

A coalition of seven U.S. states has united to challenge the U.S. Securities and Exchange Commission's (SEC) regulation of cryptocurrency.

The states involved include Iowa, Arkansas, Indiana, Kansas, Montana, Nebraska, and Oklahoma. The coalition, led by Iowa Attorney General Brenna Bird, filed an amicus brief on July 10.

The brief criticizes the SEC's alleged illegal behavior of bypassing the new powers granted to it by Congress and calls on the court to address these concerns.

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