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’s (BTC) Price Prediction and Why Ruvi AI (RUVI) Is The Most Promising Project in 2025?

Bitcoin is once again captivating the world of finance. The cryptocurrency recently surged to $95,000,…

April 28, 2025

Start Exploring Pigdom With A Surprise From The King Pig-The $KOPS ICO Is Fast Approaching

The memecoin market is always chaotic and holds lots of hidden surprises. Yet, many traders…

April 28, 2025

Bitcoin Price Prediction-Here’s What’s Incoming for the BTC Price Rally This Week

The crypto markets are displaying significant strength since the early trading hours, with the prices…

April 28, 2025

Supra Unveils AutoFi and SupraNova to Transform Cross-Chain DeFi

According to Supra, the future of DeFi is omnichain and fully interoperable, because therein lie…

April 28, 2025

This $0.025 Token Is on Track for a 3400% Run, According to Market Analysts

In a crypto market where many tokens are competing for visibility, only a few stand…

April 28, 2025

Here’s When Altcoins Will Rally

Crypto markets started the week with a bullish tone on Monday, with Bitcoin trading above…

April 28, 2025