A federal court in Texas has ordered the SEC to rescind the rule expanding the definition of "dealer" to include cryptocurrency companies. Judge O'Connor stated that the SEC exceeded its authority by approving an overly broad definition that did not align with the Securities Exchange Act. This ruling followed a lawsuit filed by crypto associations, which argued that the rule unlawfully expanded the SEC's jurisdiction. The decision came on the same day that SEC Chairman Gary Gensler announced his resignation.
11/22/2024 12:22:31 PM (GMT+1)
The Texas court overturned the SEC rule expanding the definition of a dealer to include cryptocurrency companies, ruling it violated the law ⚖️
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This material was prepared by Khachatur Davtyan, developed and translated by artificial intelligence.
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