Crypto.com Files Suit Against SEC After Getting Wells Notice (2)

Crypto.com filed a lawsuit against the US Securities and Exchange Commission after receiving a Wells Notice indicating the regulator’s intention to sue the digital-asset exchange for operating as an unregistered broker-dealer and securities clearing agency.

The lawsuit contends that the regulator has “unilaterally expanded its jurisdiction beyond statutory limits and separately that the SEC has established an unlawful rule that trades in nearly all crypto assets are securities transactions no matter how they are sold,” according to a statement Tuesday by Singapore-based Crypto.com.

The SEC does not comment on the existence or nonexistence of a possible investigation, an agency spokesperson ...