Court Rules SEC Exceeded Authority on Dealer Rule Under BSA, Major Win for Crypto Industry

Nov 21, 2024, 04:46 PM

A recent court ruling has been hailed as a significant victory for the cryptocurrency industry, particularly in its ongoing battle against the U.S. Securities and Exchange Commission (SEC). The court found that the SEC exceeded its statutory authority with its finalized dealer rule, which was criticized for blurring the lines between 'traders' and 'dealers.' Legal experts have noted that the ruling highlights the SEC's overreach and reinforces the need for clearer regulations in the crypto space. The decision is seen as a pivotal moment for decentralized finance (DeFi) advocates and may influence future regulatory frameworks surrounding cryptocurrency trading in the United States.