SEC Loses Lawsuit Over Definition of ‘Dealer’ in Crypto, Impacting the U.S. Market
In a blow to the U.S. Securities and Exchange Commission, a federal court in Texas has dismissed the agency’s new rule that would have broadened the definition of a securities dealer to encompass more companies, including those in the cryptocurrency industry. This ruling deals a significant legal setback to SEC Chair Gary Gensler, who also announced his upcoming departure on the same day.
