Already losing its legal struggle with the cryptographic industry on a rule that would have expanded the definition of regulated securities dealers to include a wide range of digital asset operations, the Commission of Securities and Securities of the United States has renounced its appeal.
The SEC has been in reset mode in its tangles in the courtroom with cryptography problems, since the leadership elevated by President Donald Trump has reversed years of the agency’s adversary position. The last movement was to formally eliminate the appeal in a case in which the Blockchain association and the Crypto Freedom Alliance of Texas sued the SEC and a federal Texas judge agreed that the regulator “exceeded its legal authority.”
“With the new leadership in the agency that leads to today’s final dismissal Blockchain, Kristin Smith, in a statement.
The re -written concessionaire rule was one of the main efforts of the Agency for Cryptographic Regulations under the mandate of former President Gary Gensler, and was prepared with the agency’s position in mind that existing laws were enough to handle space supervision of digital assets. The position of the industry was that the rule made unsustainable demands on decentralized finances (DEFI) and was also attacking cryptographic merchants who did not offer distributors services.
The agency did not immediately respond to a request for comments on legal retirement.
Since he was installed as an interim president of the SEC, Mark Uyeda has begun to aggressively review the main personnel of the agency and its legal approach to the cryptographic sector. It is ready to be replaced when Trump’s permanent selection, Paul Atkins, can be confirmed by the United States Senate, although ATKINS is expected to continue on the same way.
Earlier this month, the SEC also sought to stop its application struggle with Binance for the accusations of the agency’s violations of the agency so that the matter could be resolved differently.
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