U.S. SEC CLEARS 'DEALER' RULE EXPANSION THAT COULD ROPE IN DEFI

Summary from the TLDR Crypto newsletter

The SEC has expanded the definition of a 'dealer' in an attempt to bring more financial operations, including those dealing in crypto securities, under its jurisdiction. This 'dealer' rule could have significant implications for the digital assets industry, particularly DeFi. Unless exempted, those trading in a manner consistent with de facto market-making must register as dealers. The rule, opposed by some SEC Commissioners, officially goes into full effect in April 2025.