Crypto company Lejilex sues U.S. SEC over digital asset jurisdiction issues

Texas-based encryption company Lejilex and industry group Crypto Freedom Alliance of Texas (CFAT) filed a lawsuit against the U.S. Securities and Exchange Commission (SEC), accusing the regulator of exceeding its legal authority in the field of digital assets and requesting a judge to rule on the transaction. The digital assets traded do not constitute securities. Lejilex said the company plans to launch the Legit.Exchange platform to list digital assets including those that the SEC has deemed securities in its lawsuits against Coinbase and Binance. Lejilex and CFAT stated that the SEC was wrong to classify digital assets as "investment contracts." It is reported that the lawsuit has been filed in the federal court in Fort Worth, Texas, USA. (Reuters)