Blockchain Association (BA) and the Crypto Freedom Alliance of Texas (CFAT) filed a lawsuit against the Securities and Exchange Commission (SEC) in the Northern District of Texas that challenges the SEC’s misguided attacks on the U.S. digital asset industry and the Commission’s arbitrary and capricious rulemaking. BA and CFAT seek a court order “to strike down the SEC’s Dealer Rule due to the SEC’s various Administrative Procedure Act (APA) violations that prevent industry participants from being able to operate under clearly communicated rules that have gone through a fair and transparent rulemaking process.” The ... (full story)