SEC falls appeal against the verdict that blocked the controversial crypto broker-dealer rule
The United States Commission for Securities and Currency voluntarily withdrawn the complaint of the Texas Federal Court, which hit its broker-dealer rule, which strored to expand the agency’s supervision.
The Commission appealed against the verdict after the US District Judge Reed O’Connor of the Northern Texas County found that Sex “exceeded his legal authority” with a rule.
Politics, first finalized in February 2024. years, wanted to classify Decentralized finance platforms, liquidity providers and automated market manufacturers with over 50 million dollars of capital as a dealer, subject to registration requirements.
O’Connor ruled that this moment was “unregistered” from American laws on securities, based in industrial groups that disputed the Regulation.
The BLOCCCKAINS ‘and CRIPTO FREEDOM FREEDOM ALJANSAKS claimed that the rule will impose non-compliant burdens in accordance with the deficiency, which lacks central operators capable of applying your customer requirements and cash washing.
19. February, SEC submitted a notice With the appeals on the fifth round, stating that he was moving “to voluntarily dismiss this appeal”, thus bringing legal dispute to the end.
Kristin Smith, the Director General of Blockain, welcomed the SEC decision, describing it as a turning point for the Agency after the former regulatory regulation of Gary Glenslav on Cripto.
She characterized the SEC’s broker-dealer rule as a “illegal fiber” that tried to redefine the statutory authority of the Agency without proper justification.
SEC is a withdrawal at a rule of broker-dealers is just the latest sign of moving tide in Washington access to the CRIPT. With Gensler from the image, the Agency submitted the main correction of the course under the new leadership.
President Donald Trump without time Remembringing things and compensating a second away from aggressive crypto drawing. Chair Mark Uieda Since then, he has been managed by the Agency according to the measured approach, selecting efforts back ahead that defined Gensler’s mandate.
And a rule of broker-dealers is not the only bore tire that gets cold shoulder-several cases of high profiles against prominent cryptian firms Stage and coinbas are now placed pause.
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2025-02-20 11:14:00
