18 states in the United States sued the U.S. Securities and Exchange Commission for 'unconstitutional overreach' on digital asset

Golden Finance reported that on Thursday afternoon, 18 states led by Kentucky Attorney General Russell Coleman, in cooperation with the Cryptocurrency advocacy organization Decentralized Finance Education Fund, jointly sued the United States Securities and Exchange Commission (SEC) and its five commissioners in the Kentucky District Court. They accused the SEC, under the leadership of Chairman Gary Gensler, of unconstitutional overreach and unfair persecution of the $30 trillion Cryptocurrency industry.

The lawsuit was jointly signed by 18 Republican state attorneys general, including Nebraska, Tennessee, West Virginia, Iowa, Texas, Mississippi, Montana, Arkansas, Ohio, Kansas, Missouri, Indiana, Utah, Louisiana, South Carolina, Oklahoma, and Florida.

This lawsuit was co-written in cooperation with the Cryptocurrency Advocacy Organization Decentralized Finance Education Fund, which advocates for the formulation of sound Decentralization financial policies.