The crypto industry’s recent legal wins include the CFPB excluding crypto wallets from oversight and Gary Gensler’s planned resignation.
The broker-dealer rule from the United States Securities and Exchange Commission (SEC), which changed the definition of a ‘broker’ to include all liquidity providers and automated market makers controlling more than $50 million in capital, has been tossed out by a judge.
According to US District Judge Reed O’Connor, “The Court concludes that the SEC exceeded its statutory authority by enacting such a broad definition of dealer untethered from the text, history, and structure of the Exchange Act.”
Marisa Tashman Coppel, the legal head at the Blockchain Association crypto advocacy group, called the victory a “Huge win” for the nascent crypto industry.
