SEC Withdraws DeFi Appeal Under New Crypto-Friendly Leadership

• The SEC dropped its appeal to expand authority over the DeFi sector on Wednesday. 
• The SEC sought to redefine the term “dealer” to include DeFi protocols as well.
• Since Gensler’s departure, the SEC has seen various notable changes.

The US Securities and Exchange Commission withdrew its appeal in a case aimed at expanding securities laws to cover DeFi users and projects. 

The agency filed a four-page motion in the U.S. Court of Appeals for the Fifth Circuit on Wednesday, formally pulling the appeal without opposition.

Leadership Change & Regulatory Shift

The decision comes as part of a shift under new leadership. After former SEC Chair Gary Gensler’s departure, Acting Chair Mark Uyeda adopts a friendlier stance toward crypto. 

Uyeda will stay in charge until the Senate confirms Paul Atkins as permanent Chair under the Trump administration.

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SEC’s DeFi Regulation Efforts

The case began when the SEC tried to redefine “dealer” to include DeFi protocols, which would have forced projects to register as securities exchanges and brokers under strict ov…

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