Eighteen states have collectively filed suit against the SEC, Gary Gensler, and his fellow commissioners, alleging crypto regulatory overreach.

Eighteen Republican attorneys general sued the Securities and Exchange Commission (SEC) and Chair Gary Gensler on Thursday for allegedly overstepping the agency’s authority in its enforcement actions against the cryptocurrency industry.

SEC Chair Gary Gensler defended the agency’s approach to regulating cryptocurrency, contending that his leadership has not differed much from that of former SEC Chair Jay Clayton.

In what sounded awfully close to a farewell speech, Gensler made only passing reference to his most controversial disclosure rule, on climate change.

Eighteen states in the U.S. are officially fed up with the Securities and Exchange Commission, and they’re aiming their frustration right at SEC Chair Gary Gensler. That’s according to Fox Business journalist Eleanor Terrett.