A seven-state coalition led by Iowa Attorney General Brenna Bird filed an amicus brief on July 10 opposing the Securities Exchange Commission's attempts to regulate cryptocurrencies. The coalition includes Arkansas, Indiana, Kansas, Montana, Nebraska and Oklahoma. The Coalition noted that the SEC's "expansion of power" would impede innovation, harm the cryptocurrency industry, and exceed its authority. The Iowa Attorney General's Office stressed that the SEC's actions to bypass the new powers given to itself by Congress are illegal, inhibit innovation, and allow scammers to go unpunished. The brief also explained that the SEC violated the Administrative Procedure Act and the Major Issues Doctrine, and called on the court to prevent the SEC from exceeding its authority. The Seven-State Coalition argued that the typical cryptocurrency does not fall under an investment contract under the Securities Act of 1934.