Lejilex and the U.S. Securities and Alternate Commission (SEC) luxuriate in collectively requested a Texas court to attach off oral arguments put for February 20, 2025 and prolong choices on pending motions except April 11, 2025.
Lejilex’s Rush Against SEC
In a tear filed on February 11, the defendants, alongside side the SEC and its commissioners, requested the court to “lift away the February 20, 2025 argument from its calendar and reduction the pending dispositive motions in abeyance except April 11, 2025.” The tear cited the most contemporary leadership transition on the SEC and the introduction of a crypto job power as reasons for the prolong.
“A transition in Commission leadership took put on January 20, 2025,” Lejilex’s submitting said. It added, “And on January 21, 2025, Performing Chairman Charge T. Uyeda launched a crypto job power dedicated to helping the Commission originate the regulatory framework for crypto sources.” The SEC instructed that the job power’s work “can also simply have an effect on and can simply facilitate the aptitude decision of this case.”
The lawsuit, originally filed in February 2024 by Lejilex and the Crypto Freedom Alliance of Texas, challenges the SEC’s jurisdiction over digital sources. The plaintiffs are seeking “declaratory reduction addressing the utility of the federal securities felony pointers to crypto asset transactions and injunctive reduction referring to Securities and Alternate Commission enforcement actions.”
For the time being, the case has three pending motions: two motions to push apart filed by the SEC and a tear for abstract judgment from the plaintiffs. The SEC’s most recent submitting argues that postponing lawsuits would “enable the novel Commission ample time to be taught about crypto-connected concerns while also conserving judicial resources.”
The plaintiffs luxuriate in consented to the requested prolong. The SEC plans to file a standing story by April 11, 2025, to switch the court on any relevant trends and imply a agenda for extra lawsuits.
