Crypto trade association Chamber of Digital Commerce takes action against the U.S. Securities and Exchange Commission (SEC) and Chair Gary Gensler for its “regulation by enforcement” campaign threatening the U.S. digital assets market and investors.

In order to prevent the SEC’s crypto crackdown in the U.S., the Chamber of Digital Commerce filed an amicus brief in the SEC v. Wahi, arguing that the case unfairly labeled several crypto assets as securities.

“Chamber of Digital Commerce, with help from Winston & Strawn LLP, filed an amicus brief in SEC v. Wahi. This case should be dismissed as it represents an unprecedented expansion of the SEC’s campaign of regulation through enforcement.”

According to an official announcement, the Chamber of Digital Commerce filed an amicus brief in the United States District Court for the Western District of Washington seeking to dismiss the SEC v. Wahi case and put an end to the SEC’s attempt at “back door” rulemaking.

(By Varinder Singh)

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