Crypto investment firm Paradigm has submitted an amicus brief in support of exchange Bittrex, arguing that the SEC is exceeding its jurisdiction. Paradigm claims that the SEC has wrongfully attempted to regulate crypto secondary markets, which it says is an undue extension of the Howey test.

The filing marks the second time Paradigm has backed an exchange facing legal action from the SEC, having previously filed an amicus brief in support of Coinbase. The SEC has recently brought three cases against crypto exchanges, including Bittrex, Coinbase and Binance.