Lummis, Clement Slam SEC's Kraken Suit As Crypto Overstep

By Aislinn Keely

Sen. Cynthia Lummis, R-Wyo., crypto industry groups and veteran appellate attorney Paul Clement have told a California federal judge in a series of amici briefs that the U.S. Securities and Exchange Commission's suit against crypto exchange Kraken expands the definition of investment contract beyond what Congress intended and overreaches its authority to issues lawmakers intend to address.

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