On Wednesday, the US SEC voluntarily withdrew its appeal against a ruling that prevented the agency from expanding the scope of existing securities laws to cover DeFi users and projects. The SEC expressed its desire to "voluntarily withdraw this appeal" in a four page motion submitted to the US Fifth Circuit Court of Appeals, which was not opposed. Last November, a federal judge in Texas ruled that the SEC's expansion of the legal definition of "trader" exceeded the authority of the regulatory agency. The judge believes that the modification of SEC's trading rules is illegal because it conflates DeFi traders with financial brokers. Kristin Smith, CEO of the Blockchain Association, stated in a statement that the SEC's voluntary withdrawal of the appeal is a significant victory for the digital asset industry. （Decrypt） https://www. (wublock123.com)/index.php? m=content&c=index&a=show&catid=6&id=38193