A US judge has suspended 18 states' cryptocurrency regulation lawsuits against the SEC

A federal judge in the United States on Wednesday agreed to suspend a lawsuit filed by 18 state attorneys general and a DeFi lobby group against the Securities Exchange Commission (SEC) after the parties noted that new leadership at the SEC was in place. The state attorneys general, all Republicans, filed the lawsuit with the DeFi Education Fund in November after Trump won the 2024 presidential election. They accused the federal securities regulator of overstepping its authority in suing cryptocurrency exchanges. In Wednesday's filing, the SEC said the lawsuit could end after Paul Atkins was confirmed as chairperson of the new agency. The judge ordered the parties to file a joint status report within 30 days, but suspended all deadlines for 60 days.
On Wednesday, a separate lawsuit filed by the DeFi Education Fund, the Texas Blockchain Commission, and the Blockchain Association against the Internal Revenue Service (IRS) was also dropped. The lawsuit argued that the IRS's DeFi broker rule exceeded the agency's authority. Trump last week signed a resolution passed jointly by the House and Senate under the Congressional Review Act, repealing the rule. In Wednesday's filing, the parties said the lawsuit had become "moot" after Trump signed the resolution.