Controversial SEC chair Gary Gensler is named in the suit, along with other SEC commissioners. Gensler’s treatment of crypto during his time as chair has made him a punching bag for the industry — and for Republicans such as president-elect Donald Trump.

The lawsuit says the Securities and Exchange Commission is overreaching and crypto regulation should be left up to the states.

Sign up for State of Crypto, our weekly newsletter examining the intersection of cryptocurrency and government

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.

A group of attorneys general led by Kentucky’s Russell Coleman allege the agency and its commissioners “sought to unilaterally wrest regulatory authority away from the States” through crypto enforcement.

The plaintiffs include 18 state attorneys general as well the DeFi Education Fund, a digital asset advocacy organization. The complaint names not only the SEC but also its five commissioners as defendants.