SEC to leave previous effort to include crypto companies in regulation

The Securities and exchange office commission (SEC) can leave the proposal that would Expand the regulation of alternative trade systems (ATSS) to Include crypto companies.

Speaking on Monday (10. Marta) at the conference Institute of International BankersDec The Chairperson Mark T. Uieda He said he set the SEC staff for options for abandonment of that proposal to regulatory changes for state securities at ATSS notes published to sec.

Uyeda said u his remarks that It has done “in the light of a significant negative public comment admitted to the definition of exchange in relation to crypto”.

FurtherUyeda asked SEC staff to work with Vault departmentThe Federal Reserve and market participants to consider whether move forward With these regulatory changesAccording to the notes.

After the Commission within the former president Sec Jai Clayton The proposed rule was issued in 2020 years, the SEC President Commission Gary Gensler He was reported by this proposal 2022. years, to redefine the regulatory definition of “exchanging” in a way that would expand the list of affected entities, said Uieda.

The “new definition of the term” exchange “included” communication protocols “without a clear definition that meant that expression”, said UIeda in its remarks. “Effective, significantly expanded definition of” exchange “would pick up different protocols in relation to CRIPTO property. In my opinion, it was a fault that the Commission connects the regulation of the treasury market with a difficult attempt to insert the cropto market. “

Uyeda’s remarks came for days after the white house was hosted by the nation first “Crypt“, Who brought together President Donald Trump, Secretary for Cashier’s Scott BessentTrade Secretary Howard Lunnick“AI and CRIPTO CZAR” David Sacks And more than two dozen crippto managers and representatives of the Federal Agency.

The Sammit aimed to share feedback on how the US can become a leader in the digital property spacePimnts reported Friday (7. Marta).

In January, SEC has launched a CRIPTO WORKING GROUP Focused on the development of a “comprehensive and clear” regulatory framework for cryptic property. The working group will cooperate with Securities and Public staff, the Commission said at the time in a statement for the public.