Eighteen states have filed a lawsuit against the Biden administration over the Securities and Exchange Commission’s actions regarding cryptocurrency. The lawsuit, which was filed in federal court, accuses the SEC of overstepping its authority and violating the Administrative Procedure Act. The states argue that the SEC’s recent actions have created regulatory uncertainty and could harm the development of the cryptocurrency industry. The lawsuit is just the latest legal challenge to the Biden administration’s regulatory approach to cryptocurrency, which has faced criticism from industry groups and lawmakers. The outcome of the lawsuit could have significant implications for the future of cryptocurrency regulation in the United States.