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<ul class="wp-block-list news-points"><li>The court invalidates the SEC’s Dealer Rule, citing it as unlawful agency overreach.&nbsp;&nbsp;</li><li>Ruling safeguards digital asset markets from regulatory overreach and promotes fair practices.&nbsp;&nbsp;</li><li>Blockchain Association and Crypto Freedom Texas celebrate a landmark victory for the industry.&nbsp;&nbsp;</li></ul>A U.S. District Court struck down the SEC’s controversial Dealer Rule, declaring it exceeded the SEC’s statutory authority under the Exchange Act. The court sided with the plaintiffs, including key industry stakeholders, who argued the SEC unlawfully expanded the definition of “dealer” to include entities and activities not covered by the statute.<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper"><blockquote class="twitter-tweet">DEALER RULE STRUCK DOWN! SEC exceeded its statutory authority. HUGE win for the entire industry <a href="https://twitter.com/BlockchainAssn?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">@BlockchainAssn</a> and <a href="https://twitter.com/CryptoFreedomTX?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">@CryptoFreedomTX</a> !!! <a href="https://t.co/Zv1Mhv1uwl" rel="noopener noreferrer nofollow">pic.twitter.com/Zv1Mhv1uwl</a>— Marisa Tashman Coppel (@MTCoppel) <a href="https://twitter.com/MTCoppel/status/1859638712575164664?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">November 21, 2024</a></blockquote></div></figure>Siding with the plaintiffs, the court found the rulemaking lacked legal principles or historical precedent. It emphasized the importance of adhering to statutory limits, especially in a dynamic area like crypto. The court concluded the SEC’s broad interpretation of “dealer” created unnecessary burdens for digital asset mar…The post <a href="https://coinedition.com/secs-dealer-rule-struck-down-defi-exchanges-safe-from-overreach/" rel="noopener noreferrer nofollow">SEC’s Dealer Rule Struck Down: DeFi Exchanges Safe from Overreach</a> appeared first on <a href="https://coinedition.com" rel="noopener noreferrer nofollow">Coin Edition</a>.

SEC’s Dealer Rule Struck Down: DeFi Exchanges Safe from Overreach

Coin Edition

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