SEC
securing a favorable ruling regarding institutional sales.
SEC
still has the option to appeal the court's judgement in the future.
Sequel to
SEC’s favorable ruling on institutional sales, several US lawmakers have called
on Congress for regulatory clarity regarding the crypto industry.
In a
statement, the lawmakers said that the ruling had given large institutional
investors greater protections than everyday Americans, adding that the development
was precipitated by regulators compelling courts to make policy instead of
Congress.
They equally
said that their comprehensive market structure legislation would give all
investors, customers, and market participants the same longstanding protections
found in traditional financial markets.
They
urged to pass the Lummis-Gillibrand Responsible Financial Innovation Act,
emphasizing the need for regulatory clarity.
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