SEC looking to leave the effort that requires cryptic firms to register as exchanges

Suggested rule Change push for some crops companies to register that exchanges could be abandoned under the new directive of the President of the US Securities and the Care Commission.

During speech 10. March at the Washington Conference of the Institute of International Bankers, Chairman of the acting SEC Mark Uieda said He “asked staff staff for options for abandoning” part of the proposed changes that would expand the regulation of alternative trading systems (ATSS) to include crypto firms.

“In the light of a significant negative public comment, he received the definition of exchange related to the crippt, I wrote SEK staff for opinion of this part of the proposal,” he said.

“In my opinion, it was a fault that the Commission connects the regulation of the Treasury Market with a difficult attempt to suffocate to the crypto market.”

UIeda says that the rule was originally developed in 2020. as part of the former president Sec Jaia Clayton to establish more direct rules for alternative trade systems; The guidelines were intended to mainly affect American treasury market participants.

However, when it fell first SEC chair Gari Gensler To carry out the rule, he took a “very different direction” by expanding the list outside the ATSS only.

“Instead of focusing on narrow issues related to ATS securities, new re-investment proposed in 2022. years that redefined the regulatory definition of exchange,” Uieda said.

The “new definition of the terms of communication without clear definition of what this expression means. Efficiently, a significantly expanded definition of exchange would pick up different protocols used in terms of crypto funds,” he added.

Related: Coins finds the wrong analysis in the proposed delica Exchange SEC

Gensler’s time in SEC came with an Aggressive regulatory attitude towards CRIPTO.

He led up to 100 out of 100 regulatory actions against companies from 2021. to resignation 20. January, the same day when Donald Trump began another term as president of the United States. Abdomen He promised to shoot Gensler If he is selected.

After the resignation of Genlers, SEC has taken a new friendly approach to Kruptou since then taken. An increasing number of companies facing legal action from the regulator was rejected by their cases, including Crypto Exchange Gemini 26. February, Kraken 3. March and crypto trading firm Cumberland Drv 4. March.

Meanwhile, the agency also has The Cripto Working Group was launched dedicated to Develop a framework for digital assets running the Cryptological Commissioner Hester Peirce.

Journal: SEC is U-inclusion crypto leaves key issues unanswered