lejilex, sec seeks delay seeking Texas court lawsuit over crypto regulations

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Lejilex and the U.S. Securities and the Securities and Exchange Commission (SEC) have put forward the oral discussion set for February 20, 2025 and have put forward the Texas Court to delay decisions regarding pending claims until April 11, 2025. We have jointly requested it.

Resilex’s moves against seconds

In the complaint filed on February 11, the defendant, including the SEC and its committee, said, “We have removed the discussion on February 20, 2025 from the calendar and relied on until April 11, 2025 to pending violations. He asked me to hold on to the movement. The allegations cited the recent leadership transition in the SEC and the creation of a cryptographic task force as a reason for the delay.

“The committee’s leadership transition took place on January 20, 2025,” Resilex’s submission states. “And on January 21, 2025, acting Chairman Mark T. Weda launched a cryptographic task force dedicated to helping the committee develop regulatory frameworks for crypto assets.” The SEC said. The task force’s work suggested that “may facilitate a potential solution to this case.”

The lawsuit, originally filed in February 2024 by Lejilex and The Crypto Freedom Alliance of Texas, challenges the SEC’s jurisdiction over digital assets. The plaintiffs seek “declarative relief that addresses the application of federal securities laws to cryptocurrency transactions and injunctive relief regarding the enforcement action of the Securities and Exchange Commission.”

Currently there are three pending moves in the incident. Two dismissal claims filed by the SEC and a summary judgment motion from the plaintiff. The SEC’s latest filing argues that the deferred lawsuit “when the current committee allows for an appropriate time, it will allow it to consider crypto-related issues and at the same time protect judicial resources.”

The plaintiff agreed to the requested delay. The SEC plans to file a status report by April 11, 2025, update the court for related developments and propose a schedule of further proceedings.