The U.S. Securities and Exchange Commission (SEC) has withdrawn its appeal of a ruling that blocked its attempt to extend securities laws to decentralized finance (DeFi). This means that the DeFi space might no longer be subject to securities laws. The SEC had appealed a November ruling that prevented it from implementing a change to the definition of a dealer, which would have required certain crypto liquidity providers to register with the Commission. Crypto trade groups opposed this change, arguing that it would impose unenforceable requirements on DeFi protocols. With the case dismissed, the industry is looking forward to discussions with the SEC under new leadership. The SEC has also delayed or paused litigation against several crypto firms, signaling a shift in its approach towards the industry.



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