There have been numerous lawsuits brought against the U.S. Securities and Exchange Commission (SEC) alleging that it has acted improperly and outside the law in regulating the crypto industry through enforcement actions and threats – rather than through regulation. See here (Consensys lawsuit) and here (Crypto.com lawsuit). On November 14, 2024, Attorneys General from 18 states brought their own lawsuit, naming as defendants the SEC, Chairman Gary Gensler, and each of the Commissioners (in their…