Lawsuit Filed Against SEC by Blockchain Association and Texas Crypto Alliance Over 'Dealer Rule' Expansion

Quick Summary:

Securities and Exchange Commission, alleging that its expanded definition of “dealer” unfairly to include ordinary digital asset trading.

The lawsuit requests that the court rule the regulation as “arbitrary, capricious, or otherwise not in accordance with law” under the Administrative Procedures Act, and seeks an injunction to prevent the SEC from enforcing this rule.

The suit, submitted to the District Court for the Northern District of Texas, argues that the rule’s broad scope unjustly targets individuals just trading in digital assets.

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Article Details

Author / Journalist: Shayan Chowdhury

Category: Crypto

Markets: United States

Topics: News Cryptocurrency

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-04-23 @ 14:50:09 (1 weeks ago)

News Timezone: GMT +8:00

News Source URL: coinpedia.org

Language: English

Article Length: 481 words

Reading Time: 3 minutes read

Sentences: 29 lines

Sentence Length: 17 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Coinpedia

News ID: 20772169

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