CITY OF OKLAHOMA. (KSWO) – Oklahoma’s attorney general is opposing what he calls illegal regulations on cryptocurrencies like bitcoin.

AG Gentner Drummond joins more than a dozen other attorneys general in filing a lawsuit against the Biden administration’s regulations.

They say the SEC overstepped its authority by trying to classify cryptocurrencies as “investments.”

“We should encourage this vibrant new digital asset industry for its ability to innovate, create jobs and make financial services more accessible to millions of Americans,” Drummond said.

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