Crypto.com recently filed a lawsuit against the Securities Exchange Commission (SEC) in an attempt to prevent the agency from bringing cryptocurrency secondary market trading under its jurisdiction. The company hired former U.S. Attorney General Noel Francisco, showing that the case is crucial to it. Crypto.com seeking a declaratory judgment through a Texas court, if successful, it could significantly weaken the SEC's regulatory power over the crypto industry. The case is expected to be a key point in changing the rules of the industry.