{"id":127358,"date":"2025-04-17T06:15:27","date_gmt":"2025-04-17T06:15:27","guid":{"rendered":"http:\/\/cryptospotters.net\/?p=127358"},"modified":"2025-04-17T06:15:27","modified_gmt":"2025-04-17T06:15:27","slug":"us-court-pauses-state-ags-suit-against-sec-after-agencys-leadership-change","status":"publish","type":"post","link":"http:\/\/cryptospotters.net\/?p=127358","title":{"rendered":"US court pauses state AGs&#039; suit against SEC after agency\u2019s leadership change"},"content":{"rendered":"<p>Source: Cointelegraph.com NewsA US federal judge agreed to pause a lawsuit filed by 18 state attorneys general and the crypto lobby group DeFi Education Fund against the Securities and Exchange Commission after all parties said new SEC leadership could make the action moot.<br \/>\nKentucky District Court Judge Gregory Van Tatenhove ordered a 60-day stay on the case on April 16, noting a mid-March filing from the SEC that \u201cthis case could potentially be resolved\u201d due to a leadership transition at the regulator.<br \/>\nHe added that the parties must file a joint status report within 30 days.<br \/>\nPaul Atkins, a Wall Street adviser who has held board positions with crypto advocacy groups, was sworn in as the new SEC chair earlier this month, replacing acting chair Mark Uyeda and taking over from Gary Gensler.<br \/>\nThe 18 attorneys general, all hailing from Republican states, filed the lawsuit with the DeFi Education Fund against the securities regulator in November, alleging that the SEC exceeded its authority when targeting crypto exchanges with lawsuits, accusing the regulator and then-chair Gensler of \u201cgross government overreach.\u201d\u00a0<br \/>\nThe plaintiffs included attorneys general from Nebraska, Tennessee, Wyoming, Kentucky, West Virginia, Iowa, Texas, Mississippi, Ohio, Montana, Indiana, Oklahoma and Florida, among others.<br \/>\n\u201cWithout Congressional authorization, the SEC has sought to unilaterally wrest regulatory authority away from the States through an ongoing series of enforcement actions,\u201d the lawsuit stated.\u00a0<br \/>\nScreenshot from filing ordering pause of proceedings. Source: CourtListenerDeFi groups drop case against IRS over killed broker rule<br \/>\nMeanwhile, the DeFi Education Fund, Blockchain Association, and Texas Blockchain Council dropped their lawsuit against the Internal Revenue Service on April 16.\u00a0<br \/>\n\u201cThe parties hereby stipulate to voluntary dismissal of this action without prejudice because the case has become moot,\u201d stated the filing.\u00a0<br \/>\nThe lawsuit, filed in December, argued that the so-called IRS DeFi broker rule went beyond the agency\u2019s authority and was unconstitutional.<br \/>\nRelated: NY attorney general urges Congress to keep pensions crypto-free \u2014 \u2018No intrinsic value\u2019<br \/>\nOn April 11, President Donald Trump signed a bill to revoke the rule that would have required DeFi protocols to report transactions to the IRS.<br \/>\nIt comes as the SEC has paused or dropped several high-profile lawsuits against crypto companies this year under its new leadership.<br \/>\nMagazine: Illegal arcade disguised as \u2026 a fake Bitcoin mine? Soldier scams in China: Asia Express<a href=\"https:\/\/cointelegraph.com\/news\/court-pauses-state-ags-suit-sec-following-leadership-change?utm_source=rss_feed&amp;utm_medium=rss&amp;utm_campaign=rss_partner_inbound\" target=\"_blank\" class=\"feedzy-rss-link-icon\" rel=\"noopener\">Read More<\/a><\/p>","protected":false},"excerpt":{"rendered":"<p>Source: Cointelegraph.com NewsA US federal judge agreed to pause a lawsuit filed by 18 state attorneys general and the crypto lobby group DeFi Education Fund against the Securities and Exchange&hellip; <\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[5],"tags":[],"_links":{"self":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/127358"}],"collection":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=127358"}],"version-history":[{"count":0,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/127358\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=127358"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=127358"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=127358"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}