Crypto Groups Sue SEC Over Dealer Definition

Lawsuit challenges SEC's expanded definition of "dealer" in digital assets, alleging overreach.

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Allegation includes failure to engage with feedback and conduct required economic analysis.

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Lawsuit seeks declaration of arbitrariness and block on SEC enforcement.

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Criticism over lack of clarity in defining digital assets as securities by SEC.

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Industry voices concerns over regulatory ambiguity's impact on innovation and potential offshore migration.

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