Cryptography company Consensus said on Thursday85bonuspoker, the company has developed a comprehensive approach to the Ethereum blockchain85bonuspokerfiled a lawsuit with the U.S. Securities and Exchange Commission (SEC) on regulatory issues.

Regulation of the industry has become a controversial issue because the industry's largest companies, including Coinbase Global, claim that the SEC has no jurisdiction on the grounds that cryptocurrencies are not securities.

In its complaint, Councilsys alleges that U.S. market regulators have been "attempting to illegally regulate Ethereum through ad hoc enforcement actions against Councilsys and other companies."

Councilsys said it is seeking court confirmation that the SEC has no legal authority to regulate user-control software interfaces built on Ethereum or the Ethereum blockchain.

The U.S. Securities and Exchange Commission does not currently regulate crypto assets. It has not yet approved applications from multiple exchange-traded funds seeking to track their spot prices.