The US Securities and Exchange Commission (SEC) has lost another case involving crypto plaintiffs in Texas. In a new ruling, Judge Reed O’Connor said that the SEC’s use of the term “securities dealer” isn’t backed by any US laws. The plaintiffs, Blockchain Association and Crypto Freedom for Alliance of Texas, challenged the broad use of the term “dealer,” claiming it is not healthy for the general market growth.
Judge O’Connor sided with the plaintiffs, saying the SEC exceeded its authority by using such a broad definition of dealer. Many of the SEC’s policies remain controversial, and this ruling serves as a vote of no confidence. With Gary Gensler’s departure from the SEC, many are waiting to see who will take over and if they will change the SEC’s stance on crypto.
Source
<p>The post Crypto Scores Big Win As US SEC Suffers Loss In Dealer Lawsuit first appeared on CoinBuzzFeed.</p>