House Financial Services Committee: The U.S. SEC’s final rule to expand the definition of “dealer” is too broad and risks damaging market vitality

The US House Financial Services Committee posted on social media that the US Securities and Exchange Commission's final rule expanding the definition of "dealer" is too broad and poses a risk to market vitality, especially in the digital asset ecosystem. The lack of clarity and consideration for implementation challenges exacerbates these issues, making market participants uncertain of their regulatory obligations and potentially disrupting the market. The US Securities and Exchange Commission should reconsider its final rule to ensure market stability and efficiency while promoting innovation.