The U.S. Securities and Exchange Commission (SEC) has willingly withdrawn its appeal of a ruling that blocked its attempt to expand securities laws to cover decentralized finance (DeFi).
This development means the DeFi space might no longer be subjected to securities laws.
A Complete Victory for DeFi
In a February 19 motion filed with the U.S. Court of Appeals for the Fifth Circuit, the SEC stated its intention to “voluntarily dismiss this appeal.” The document also revealed that the move went unopposed.
Last month, the agency had appealed a November ruling by a Texas federal judge that favored crypto trade groups, the Blockchain Association and the Crypto Freedom Alliance of Texas.
The decision had prevented the SEC from implementing a proposed change to the definition of a dealer, which would have required all crypto liquidity providers and automated market makers with more than $50 million in capital to register with the Commission.
Crypto advocacy groups opposed the change, arg
We współpracy z: https://cryptopotato.com/sec-withdraws-appeal-in-defi-dealer-classification-case/
