Crypto Law Firm Hodl Law PLLC Sues SEC

The US Securities and Exchange Commission (SEC) has been sued by the cryptocurrency-focused law firm Hodl Law PLLC on the grounds that the agency has not made clear when it has jurisdiction over digital assets and when it considers them securities.

Nouriel Roubini, an economist, has shared a link to a piece about the cryptocurrency-focused law firm Hodl Law PLLC on LinkedIn, claiming that the firm has filed a lawsuit against the Securities and Exchange Commission of the United States and that it is based entirely on flimsy allegations.

He expressed his displeasure with cryptocurrency and Web3 on Twitter. Roubini also mentioned a LinkedIn article written by John Reed Stark, a former director of the SEC Office of Internet Enforcement:

One of the numerous false claims made by the corporation, according to Roubini, was that the SEC was to blame for the recent collapse of FTX.

This comes after Ripple Labs was the target of legal action brought by the SEC. In a complaint filed against Ripple Labs and XRP, it claimed that the latter was unregistered securities and accused the company’s top executives of selling it to investors.

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