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TechFlow news, on February 20, according to Decrypt, the U.S. Securities and Exchange Commission (SEC) voluntarily withdrew its appeal of a ruling that blocked the agency from expanding the scope of existing securities laws to cover DeFi users and projects.
Kristin Smith, CEO of the Blockchain Association, said the SEC's decision marks a significant victory for the digital asset industry.
According to Decrypt, the U.S. Securities and Exchange Commission (SEC) has voluntarily dropped its appeal of a ruling that blocked the agency from expanding the scope of existing securities laws to cover DeFi users and projects. In November last year, a federal judge in Texas ruled that the SEC's attempt to broaden the legal definition of "dealer" exceeded the regulator's authority. Kristin Smith, CEO of the Blockchain Association, said the SEC's decision marks a significant victory for the digital asset industry.
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