Did the SEC overstep its authority to regulate crypto markets?

Has the Securities and Exchange Commission (SEC) transgressed its jurisdictional bounds in its efforts to regulate the cryptocurrency markets? The question arises as the SEC has been increasingly assertive in its oversight of these emerging digital assets, implementing rules and regulations that some argue encroach upon the traditional boundaries of its authority. Critics suggest that the SEC is overreaching, potentially stifling innovation and growth in the crypto sector, while proponents maintain that such regulation is necessary to protect investors and ensure market stability. As the debate continues, it remains unclear whether the SEC's actions truly constitute an overstep of its authority or a necessary measure to safeguard the integrity of the crypto markets.