You are currently viewing U.S. SEC Loses Crypto Lawsuit Over ‘Dealer’ Definition That Pushed Into Crypto
The U.S. District Court for the Northern District of Texas has ordered the Securities and Exchange Commission to throw out its so-called “dealer” rule, finalized in February. Crypto industry groups had sued the agency, arguing its rule marked an inappropriate stretch into the sector. The ruling emerged just as SEC Chair Gary Gensler was announcing his resignation and touted the agency’s legal wins against the crypto industry.

A Texas federal court has rejected the U.S. Securities and Exchange Commission’s recent rule expanding the definition of a securities dealer to include a wider swath of firms — including some in the cryptocurrency sector. This adds a significant legal loss to the crypto legacy of SEC Chair Gary Gensler on the same day he announced his January departure.

Keep reading this article on Coinbase.com.

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