The cryptocurrency startup Lejilex has filed a petition in federal court in Texas seeking a preventive decision that would protect it from potential actions by the U.S. Securities and Exchange Commission (SEC) before the launch of its cryptocurrency exchange.
Lejilex, part of the Crypto Freedom Alliance of Texas, claims that it will facilitate cryptocurrency transactions, not the sale of securities, accusing the SEC of overstepping its authority.
Founded last year, the company plans to open its exchange by the end of 2024. In its October 3 statement, Lejilex noted that the regulator is attempting to improperly classify crypto assets as securities, which the startup believes is an unjustified move by the SEC.
In turn, the SEC argues that Lejilex's lawsuit is aimed at obtaining a court ruling that cryptocurrencies can never be considered securities. In addition, the regulator raises the issue of the validity of the case since no claims have been brought against Lejilex by the agency so far.
Lejilex states that it wants to obtain a court ruling that listing existing tokens will not violate securities laws.
