News View Non-AMP

Crypto News: SEC Voluntarily Dismisses Appeal in Landmark Crypto Rulemaking Case

Published by
Anjali Belgaumkar

The U.S. Securities and Exchange Commission (SEC) has voluntarily dismissed its appeal in a lawsuit over its controversial “dealer rule.” The SEC’s decision came after the Blockchain Association challenged the rule, arguing that it represented arbitrary and capricious rulemaking that could harm the emerging crypto sector.

SEC Drops Appeal in Dealer Rule Lawsuit

The SEC’s filing, which was made public today, states that it is withdrawing the appeal under Federal Rule of Appellate Procedure 42(b). Both sides have agreed that each party will bear its own costs, with the plaintiffs — including the Blockchain Association — not opposing the motion. The SEC had initially appealed a district court ruling from November 2024, which had favored the plaintiffs and criticized the agency’s rulemaking as overreaching.

The rule in question had raised concerns across the crypto industry, as it potentially threatened to stifle innovation and disrupt the growth of digital assets by imposing unnecessary regulations on digital asset dealers. The Blockchain Association had argued that the SEC’s actions were harmful to the industry, claiming the agency’s stance amounted to unjustified regulatory overreach.

Today’s motion to dismiss, filed by the SEC, marks the conclusion of a lengthy legal battle and a policy shift within the agency. The decision is seen as a win not only for the Blockchain Association but also for innovators, entrepreneurs, and developers working in the blockchain and cryptocurrency sectors.

Following the announcement, the Blockchain Association hailed the dismissal as a “complete victory.” In a statement, the association said,

“Today marks a complete victory for us – and the broader industry – in our lawsuit against the SEC over the dealer rule. We first challenged the SEC’s dealer rule in April of last year, arguing that the SEC’s misguided attacks against the industry amounted to arbitrary and capricious rulemaking.”

The association celebrated the ruling as a triumph for the digital asset industry, stressing the importance of preserving innovation and fostering a regulatory environment that supports the growth of new technologies.

Anjali Belgaumkar

Writer by choice, CryptoCurrency Writer, and Researcher by chance. Currently, focusing on financial news and analysis, as well as cryptocurrency news and data. One may not call me a crypto “Enthusiast” but trust me I'm getting there.

Recent Posts

Bitcoin Price To Hit New All‑Time High Coming Week, Says Analyst Michaël van de Poppe

The crypto market has remained stable today. Bitcoin is trading at $107,375, up 0.3% in…

June 28, 2025

Brian Armstrong Reveals Coinbase’s Dominance in Crypto ETF Market

Coinbase CEO Brian Armstrong took to X this week to spotlight a major shift in…

June 28, 2025

US House Passes Blockchain Bill 2025

The US House of Representatives has passed the bipartisan Deploying American Blockchains Act of 2025.…

June 28, 2025

AAVE Price on Track for $480: Whale Accumulation & On‑Chain Strength in Focus

Aave (AAVE) price is trading 18% higher at $256 at the time of writing, following…

June 28, 2025

Will Cardano (ADA) Price Hit $1 in 2025?

Cardano (ADA) is gaining attention again, and traders are asking one big question: Can it…

June 28, 2025

Trump Calls Bitcoin “Amazing”, Says “I Built the Bitcoin Industry”

U.S. President Donald Trump is now calling Bitcoin “amazing” and positioning the United States as…

June 28, 2025