Cryptocurrency exchange Bittrex has submitted a motion to dismiss in its legal dispute with the United States Securities and Exchange Commission (SEC).

In its recent court filing, Bittrex argues that the SEC does not have the authority to regulate cryptocurrencies as securities unless explicitly granted by Congress. This assertion challenges the SEC’s interpretation of existing securities regulations and seeks to establish a more defined regulatory framework accommodating digital assets.

Bittrex’s motion to dismiss (screenshot). Source: CourtListener