{"id":21354,"date":"2025-02-20T17:52:40","date_gmt":"2025-02-20T15:52:40","guid":{"rendered":"https:\/\/forklog.com\/en\/sec-eases-stance-on-cryptocurrency-and-defi-regulation\/"},"modified":"2025-02-20T17:52:40","modified_gmt":"2025-02-20T15:52:40","slug":"sec-eases-stance-on-cryptocurrency-and-defi-regulation","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/sec-eases-stance-on-cryptocurrency-and-defi-regulation\/","title":{"rendered":"SEC Eases Stance on Cryptocurrency and DeFi Regulation"},"content":{"rendered":"<p>On February 19, the <span data-descr=\"U.S. Securities and Exchange Commission\" class=\"old_tooltip\">SEC<\/span> filed a motion to withdraw its appeal against a ruling that limits the application of securities laws to cryptocurrency users and DeFi services.<\/p>\n<blockquote class=\"twitter-tweet\" data-lang=\"en\">\n<p lang=\"en\" dir=\"ltr\">1\/ Today marks a complete victory for us \u2013 and the broader industry \u2013 in our lawsuit against the SEC over the dealer rule.<\/p>\n<p>The SEC voluntarily dismissed its appeal of the lawsuit over the dealer rule brought by us and <a href=\"https:\/\/twitter.com\/CryptoFreedomTX?ref_src=twsrc%5Etfw\">@CryptoFreedomTX<\/a>.<a href=\"https:\/\/t.co\/ajuJdrLOI4\">https:\/\/t.co\/ajuJdrLOI4<\/a> <a href=\"https:\/\/t.co\/pbHClVefud\">pic.twitter.com\/pbHClVefud<\/a><\/p>\n<p>\u2014 Blockchain Association (@BlockchainAssn) <a href=\"https:\/\/twitter.com\/BlockchainAssn\/status\/1892305029375078433?ref_src=twsrc%5Etfw\">February 19, 2025<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>In February 2024, the Commission <a href=\"https:\/\/u1f987.com\/en\/news\/sec-establishes-oversight-rules-for-defi-dealers\">broadened<\/a> the definition of &#8220;dealer,&#8221; bringing more financial operations, including those involving cryptocurrencies, under its jurisdiction. <\/p>\n<p>Under the provisions, market participants managing and owning cryptocurrencies worth over $50 million were required to register their status with the agency. The rules were expected to take full effect in April 2025. Commissioners Mark Uyeda and Hester Peirce opposed their adoption. <\/p>\n<p>The Blockchain Association and Crypto Freedom Alliance of Texas <a href=\"https:\/\/www.theblock.co\/post\/342370\/sec-voluntarily-dismisses-appeal-in-case-to-push-dealer-rule-on-crypto-defi\">filed a lawsuit<\/a> against the SEC, seeking to overturn the agency&#8217;s decision. The plaintiffs argued that the Commission violated the Administrative Procedure Act by unlawfully expanding the interpretation of the term &#8220;dealer.&#8221; The potential impact of the agency&#8217;s initiative on the industry was described as &#8220;catastrophic&#8221; in their statement.  <\/p>\n<p>In November, a Texas District Court <a href=\"https:\/\/theblockchainassociation.org\/blockchainassociation-and-cfat-prevail-against-sec-dealer-rule-struck-down\/\">ruled<\/a> that the SEC had overstepped its authority by applying &#8220;dealer rules&#8221; to cryptocurrencies. In January, the Commission filed an appeal, which it has now withdrawn.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>&#8220;Today we achieved a complete and final victory in the case against the SEC over the dealer rules. With the Commission voluntarily dismissing its appeal, the crypto industry can breathe a sigh of relief. Our industry has a bright future. Let&#8217;s keep building,&#8221; said Blockchain Association CEO Kristin Smith.<\/p>\n<\/blockquote>\n<p>On January 20, SEC Chairman Gary Gensler <a href=\"https:\/\/u1f987.com\/en\/news\/gary-genslers-departure-a-retrospective-on-the-sec-chairs-tenure\">resigned<\/a>, having been accused by the community of waging a &#8220;war&#8221; against the industry.<\/p>\n<p>Uyeda became the interim head of the Commission. Peirce <a href=\"https:\/\/u1f987.com\/en\/news\/hester-peirce-to-lead-secs-cryptocurrency-task-force\">took charge<\/a> of the cryptocurrency task force. One of the structure&#8217;s priorities, she noted, was to classify which digital assets should be considered securities.<\/p>\n<p>President Donald Trump <a href=\"https:\/\/u1f987.com\/en\/news\/trump-nominates-paul-atkins-as-sec-chair\">nominated<\/a> Paul Atkins, a former commissioner and cryptocurrency advocate, for the position of SEC Chairman.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>On February 19, the SEC filed a motion to withdraw its appeal against a ruling that limits the application of securities laws to cryptocurrency users and DeFi services. 1\/ Today marks a complete victory for us \u2013 and the broader industry \u2013 in our lawsuit against the SEC over the dealer rule. The SEC voluntarily [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":21353,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1162,36,128,26],"class_list":["post-21354","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-court-cases","tag-regulation","tag-sec","tag-usa"],"aioseo_notices":[],"amp_enabled":true,"views":"23","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/21354","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=21354"}],"version-history":[{"count":0,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/21354\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/21353"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=21354"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=21354"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=21354"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}