Crypto Lobbyists Challenge SEC's Dealer Definition

The Blockchain Association and the Crypto Freedom Alliance of Texas have filed a lawsuit against the U.S. Securities and Exchange Commission, alleging that its expanded definition of “dealer” unfairly to include ordinary digital asset trading.

Lawsuit challenges SEC's expanded definition of “dealer” in crypto space.

The Blockchain Association and the Crypto Freedom Alliance of Texas (CFAT) have filed a lawsuit against the U.S. Securities and Exchange Commission (SEC). The suit challenges a new rule that broadens the definition of a “dealer” in the realm of digital assets.

Two crypto industry groups sued the SEC over a newly adopted dealer rule that they say would have "disastrous effects" on the industry.

The Blockchain Association and a Texas-based crypto activist group are suing the SEC over its controversial “Dealer Rule” expansion, arguing it threatens the digital asset industry and innovation.

A U.S. Securities and Exchange Commission rule expanding the definition of a "dealer" to capture digital assets activity went too far, a lawsuit by the Blockchain Association and Crypto Freedom Alliance of Texas alleged.