Cheyenne Ligon is a CoinDesk news reporter with a focus on crypto regulation and policy. She has no significant crypto holdings.
Ethereum developer Consensys has filed a lawsuit against the U.S. Securities and Exchange Commission, striking back against what the company calls an “unlawful seizure of authority” over Ethereum by the federal regulator.
In its suit, Consensys claims that it “built its business against the backdrop of this regulatory consensus”, and the SEC’s new grab for power – which it calls an “about-face” – over Ethereum would therefore “violate the Constitutional requirement of fair notice under the Due Process Clause.” The suit also leans on the"major questions doctrine," a Supreme Court ruling barring federal regulators from dramatically exceeding the scope of their Congressional mandates. Two judges have already rejected the idea that crypto falls under the doctrine during arguments brought by
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