HNewsWire November 25, 2024 www.texasattorneygeneral.gov PRESS OFFICE: (512) 463-2050 Communications@oag.texas.gov Attorney General Ken Paxton Sues Biden-Harris Administration for Unlawful Regulations Against Cryptocurrency Markets AUSTIN – Attorney General Ken Paxton, as part of an 18-state coalition, sued the U.S. Securities and Exchange Commission (“SEC”) and members of the Biden-Harris Administration for unlawfully promulgating sweeping new regulations on cryptocurrencies without any legal authority. The Administration’s recent rules aim to force digital asset platforms to register with the SEC as securities exchanges, dealers, brokers, and clearinghouses, and to comply with the requirements of federal securities laws—despite not being contemplated at all by the statutory text. The SEC claims such regulations are authorized by the Securities Act of 1933 and Exchange Act of 1934, however, these nearly century-old laws in no way contemplate digital assets such as cryptocurrencies or give a federal agency the […]