Eighteen states in the United States have filed a lawsuit against the SEC, accusing the agency of unfair persecution of the cryptocurrency industry and unconstitutional overreach.

Odaily Planet Daily News - Fox Business reporter Eleanor Terrett posted on the X platform that 18 states in the U.S. have filed a lawsuit against the SEC and its commissioners, accusing them of unconstitutional overreach under Gary Gensler's leadership and unfair persecution of the cryptocurrency industry. The lawsuit, signed by the attorneys general of these 18 states (all Republicans), details how the agency has implemented "severe government overreach" through enforcement against an industry worth $3 trillion, thus infringing on the regulatory and economic interests of the states.

Fox: 18 States in the U.S. Sue SEC, Accusing It of Unconstitutional Persecution of the Cryptocurrency Industry