The US regulatory SEC has withdrew its appeal on the expansion attempt to expand the “intermediary institution/market -making rule ği, which the Texas court canceled due to the authorization overdue. This decision is considered an important victory for the crypto sector, which opposes the rule seen as regulatory intervention.
SEC terminated the legal struggle for the market -making rule
The SEC, led by the temporary president Mark Uyeda, withdrew from the appeal process to regulate the definition of the intermediary institution. This regulation envisaged that high -frequency trade firms and certain crypto funds were accepted as intermediaries. However, some groups in the sector argued that this was an attempt to regulate the crypto exchanges indirectly without congress approval.
The Texas Court canceled the regulation, stating that the rule in question exceeded the limits of the SEC. The SEC initially objected to the decision, but then withdrew the appeal voluntarily. This step has confirmed that the Craft Corporate rule will not come into force.
Kristin Smith, CEO of Blockchain Association, stated that they welcomed this development and said:
We opened this case against the SEC’s attempt to expand unlawful authority. With the final decision taken today, we are now looking forward to focusing on a more constructive dialogue with SEC.
As Kriptokoin.com, we will be conveying the details of hot development.
The new era begins on crypto arrangements
This decision is seen as a great legal victory for the crypto industry. The sector representatives considered SEC’s attempt to expand the definition of brokerage institutions as an effort to directly regulate high -frequency trade companies and some crypto investment funds. However, the Texas Court ruled that this regulation exceeded the limits of authority of the SEC, which was against the law.
After the decision, the SEC had the right to object to the court’s opinion, but he withdrew from the appeal and confirmed that the regulation would no longer come into force.
The SEC’s step back indicates that there may be a change in its approach to crypto regulations under the new administration of the institution. Kristin Smith, CEO of Blockchain Association, said in a statement after the court decision, ik We filed this case to stop SEC’s authority. Now, we hope to start a more constructive dialogue ”.
This development is considered as an important step to provide regulatory clarity in the crypto ecosystem. How the crypto sector will be shaped in the future will become clearer with the policies that SEC will follow under the new leadership.
