According to Techub News, the cryptocurrency exchange Crypto.com received a Wells notice from the U.S. Securities and Exchange Commission (SEC). Crypto.com said it would file a lawsuit against the SEC, a move aimed at protecting the future of the U.S. cryptocurrency industry.

The exchange's lawsuit argues that the SEC unilaterally expanded its jurisdiction beyond statutory limits and that the SEC established an illegal rule that almost all transactions in crypto assets are securities transactions, regardless of how they are sold, while the same transactions in Bitcoin and Ethereum are not considered securities.