Eighteen states have filed a lawsuit against the Securities and Exchange Commission (SEC), its chairman Gary Gensler, and other commissioners, claiming regulatory overreach in the crackdown on the cryptocurrency industry. The suit, led by Republican Attorneys General, accuses the SEC of improperly applying securities laws to cryptocurrencies and stifling innovation in the space. This legal action comes ahead of a potential regulatory leadership change following the recent election. The states argue that the SEC's aggressive enforcement actions threaten the growth and development of the crypto market within their jurisdictions. As these developments unfold, they could significantly impact the future regulatory landscape for cryptocurrencies in the United States.

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