SEC withdraws from revisiting digital currency legislation case. Victory for digital asset industry. Hope for constructive discussions under new SEC leadership.
The U.S. Securities and Exchange Commission (SEC) withdrew its request to revisit a case related to limiting the extension of securities laws to the DeFi sector. This decision came after a federal judge in Texas declared SEC’s proposed changes to the definition of traders, equating DeFi users with financial brokers, as illegal. Kristin Smith, CEO of the Blockchain Association, considered this withdrawal a major victory for the digital asset industry and expressed hope for more constructive discussions between this industry and the regulatory body under the new SEC leadership.
