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SEC sued by crypto trade groups over definition of ‘dealer’

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Two crypto industry groups sue the SEC, challenging its recent expansion of the “Dealer Rule.”

A rule from the SEC that recently expanded the definition of a “dealer” to capture digital assets activity is a step too far, says the Blockchain Association (BA) and Crypto Freedom Alliance (CFA) of Texas in their complaint in a federal district court in Texas.

The suit, filed Tuesday, claims