US regulator Securities and Stock Exchange Commission (SEC) was withdrawn from the appeal case against the Crypto Money Market for the “Dealer Rule” regulation. The regulatory institution voluntarily applied to the court to reduce the case. Crypto Money Sector He evaluated this development as a great victory. As it is known, the new SEC management announced that it would adopt a more open and balanced approach in crypto currency regulations.
What does it mean for SEC to give up the appeal?
SelectionIn November 2024, he objected to the decision of the Texas Federal Court. The court ruled that SEC had exceeded its authority with the “Dealer Rule” regulation. The arrangement of liquidity providers with more than $ 50 million assets securities lawsHe predicted to be subject to na. The two major organizations in the crypto currency sector filed a lawsuit, arguing that these rules would harm the sector.
SEC’s reduction of the case signals that the regulatory institution will pursue a new regulation policy. With the reduction of the case Crypto Money MarketFor large players, the arrangement pressure has decreased to a little bit. Blockchain Association CEO Kristin Smith“A victory for the crypto currency sector,” he celebrated the development.
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NEW SEC Management and Crypto Monetary Policy
The backstake of SEC is considered as a result of the change in the leadership of the regulatory institution. Former president Gary Genslerwas known for his harsh attitude towards crypto money companies. However, instead of Gensler, who handed over the task in January Mark T. Uyeda passed. Also former regulatory and crypto money pro – Paul AtkinsPresident Donald Trump was nominated for the presidency of the SEC.
The new management launched a program called “Secrepto 2.0 .. Within the scope of this program, “logical and clear” rules are planned to be established for the sector. Commissioner Hester Peirce A crypto currency working group was established under its leadership. This group will focus on determining which crypto currencies will not be classified as securities.
On the other hand, according to experts, the legal process between Binance and SECA may be affected by this transformation. The two sides made a joint application to stop the case process. In the future, SEC can review other crypto currency companies.
Responsibility Rejection: The information contained in this article does not contain investment advice. Investors should be aware that crypto currencies carry high volatility and thus risk and carry out their operations in line with their own research.
