In the lawsuit filed by state lawyers and Defi Education Fund against the SEC, the Federal Judge approved the application for temporarily suspended. In the complaint, allegations that the regulatory institution exceeded the limits of authority in sanctions on crypto exchanges.
Claims for SEC
According to the complaint, the Second Security was using a unilateral authority to regulate crypto assets. In the statement in the text of the case, “SEC tried to unilaterally take the regulatory authority unilaterally through a series of sanctions targeting the crypto asset industry based on the theory that almost all purchases and sales of crypto assets are ‘investment contracts’ without the authority to congress.
The judge decision and reason
Judge Gregory Van Tatenhove of Kentucky Eastern Region decided to pause a 60 -day pause after the newly appointed CRIBE SECA President Paul Atkins started the task. This decision is considered important in terms of the course of existing applications and relevant legal transactions.
It experienced a positive change in SEC’s approach to the crypto asset sector, which was effective in pause the case. The fact that the investigations of important files such as Ripple and Kraken were terminated before was an indication that it has adopted a different approach in the policy of the regulatory institution.
While the proceedings lead to controversy on the limits of the regulatory authority’s interest in interest, differences of opinion about how sharing authority should be between the relevant parties draw attention. The relevant actors criticize the inadequacy of the existing regulations. Ultimately, the fact that SEC is trying to rasp its criticism of the period in which the case was opened is essentially unnecessary Kis.
The changes in the case process and the practices of the SEC may be effective in determining the dynamics that the digital asset market may face in the future. Readers may consider that it may be useful to follow regulatory developments and updates in sectoral applications.
Responsibility Rejection: The information contained in this article does not contain investment advice. Investors should be aware that crypto currencies carry high volatility and thus risk and carry out their operations in line with their own research.
