The U.S. District Court for the Northern District of Texas has ruled against the SEC by ordering it to discard its "dealer" rule, highlighting ongoing tensions between crypto regulators and the industry.
SEC Chair Gary Gensler's resignation coincided with the court's ruling, emphasizing a notable moment as he previously celebrated the agency's legal actions against the crypto sector.
Kristin Smith, CEO of the Blockchain Association, hailed the ruling as a significant win for the crypto industry, reflecting the broader discontent with regulatory overreach.
In light of the decision, the SEC is currently assessing their response to the ruling while Gensler's tenure ends amidst ongoing challenges from crypto industry litigations.
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