Paradigm: SEC's allegations against Bittrex exceed its jurisdiction, and the court should dismiss the case.

BlockBeats news, on July 11, crypto venture capital firm Paradigm submitted a non-party amicus brief to the U.S. Securities and Exchange Commission (SEC) in the case against bankrupt cryptocurrency exchange Bittrex. The brief argues that the SEC's charges against Bittrex exceed its statutory jurisdiction and that the case should be dismissed because it does not involve "investment contracts" and therefore does not fall within the SEC's regulatory authority over securities transactions, and the SEC has no authority to regulate secondary market trading of cryptocurrencies.