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The SEC has retracted its attempt to appeal a court decision that halted its enforcement of the 'dealer rule' on crypto liquidity providers with large capital reserves.
What’s the Scoop?
- SEC Appeal Withdrawn: The SEC has submitted a motion to pull back its appeal against a court verdict that restricted its enforcement of the 'dealer rule' on crypto and DeFi stakeholders.
- Focus on Crypto Firms: The rule was aimed at compelling crypto liquidity providers with assets exceeding $50 million to adhere to existing securities regulations.
- Implications for the Industry: This move is perceived as a triumph for the crypto industry, underscoring the regulatory hurdles in the rapidly changing digital asset space.
- Encouragement for Dialogue: The withdrawal could pave the way for more meaningful dialogue between the SEC and the crypto community.
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