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Crypto Scores Crucial Court Win Against SEC as Gensler Calls It Quits

The so-called dealer rule as interpreted by the SEC would have treated DeFi projects and traders like securities exchanges and brokers.

A federal judge in Texas dealt a decisive blow to the U.S. Securities and Exchange Commission’s crypto policy on Thursday, ruling that the agency’s expansion of an existing securities law to apply to decentralized finance (DeFi) users and projects was unlawful and in excess of the regulator’s authority.

Crypto Scores Crucial Court Win Against SEC as Gensler Calls It Quits

The so-called dealer rule as interpreted by the SEC would have treated DeFi projects and traders like securities exchanges and brokers.

A federal judge in Texas dealt a decisive blow to the U.S. Securities and Exchange Commission’s crypto policy on Thursday, ruling that the agency’s expansion of an existing securities law to apply to decentralized finance (DeFi) users and projects was unlawful and in excess of the regulator’s authority. 
https://decrypt.co/292929/crypto-win-sec-dealer-rule-gensler