Crypto Firms Take SEC Fight to Texas, With Eye on Supreme Court

The cryptocurrency industry, feeling the squeeze from securities regulators suing in New York, is going on offense in Texas, with backing from venture capital giants and US Supreme Court veterans.

At least twice in recent weeks, small crypto businesses wary of enforcement actions have teamed up with well-connected trade groups to sue the Securities and Exchange Commission, challenging how the agency polices their industry.

The lawsuits—filed in a circuit with a reputation for doubting agency powers, and piloted by the likes of former US Solicitor General Paul Clement—represent the crypto industry’s evolving legal strategy in response to the SEC’s crackdown.

To legal observers, the playbook seems clear: create a split among circuit courts and get the attention of the nation’s highest court.

Source: Crypto Firms Take SEC Fight to Texas, With Eye on Supreme Court