The U.S. Securities and Exchange Commission faces challenges from various entities regarding its lawsuit against cryptocurrency exchange Kraken. The Blockchain Association and fund_defi submitted an amicus brief supporting Kraken's motion to dismiss, as did eight state attorneys general. SEC Commissioner Hester Peirce expressed concerns about regulatory hurdles faced by crypto developers, while the House Financial Services Committee voted to overturn an SEC guideline blocking banks from entering crypto custody. Pressure mounts on the SEC from lawmakers and state AGs, questioning its authority over crypto assets.