SEC Under Trump Administration to Review Crypto Policies: Report

The US Securities and Exchange Commission appears ready to make a major shift in its approach to regulating cryptocurrencies, likely starting as early as next week. President-elect Donald Trump He takes office.

What happened: Reuters I mentioned that the main republican commissioners, Hester Pierce and Mark Uedaplans to initiate a series of actions that could significantly change the regulatory landscape for digital assets.

The reason behind this shift is clear: a philosophical change in how the SEC views the industry, moving away from perceived “oppression” to what appears to be a more flexible stance.

Pierce and Ueda, they’re both known for it Pro-encryption viewsThey are said to be considering steps to establish clearer guidelines on when a digital currency is classified as a security.

This is crucial because the classification determines the regulations that apply, something that has been a major point of contention and confusion within the cryptocurrency industry.

Furthermore, they are looking to revisit ongoing enforcement issues, which began under the current administration, adding a layer of uncertainty and potential policy changes that could impact multiple companies.

This signals a potential shift in the way the SEC intends to approach cryptocurrency markets.

the Expected date to Paul Atkinsa well-known cryptocurrency advocate, as head of the Securities and Exchange Commission, is promoting the idea of ​​a major regulatory shift.

While his Senate confirmation is still pending, Atkins’ expected arrival signals a move away from the outgoing president’s tougher regulatory approach. Gary GenslerHis departure is scheduled to coincide with the inauguration ceremony.

Atkins’ appointment, along with planned actions by current commissioners, signals a deliberate and coordinated effort to review how the SEC oversees the cryptocurrency space.

Read also: Bitcoin is an ‘excellent’ buying opportunity if it drops below $90,000, says Standard Chartered.

Pierce and Ueda, who previously worked under Atkins at the SEC, agree with his views.

They have long criticized Gensler’s heavy-handed enforcement strategy and have discussed alternative, more crypto-friendly policies.

With Gensler’s impending departure, they are expected to form a majority on the committee, allowing them to move forward with their agenda as they see fit in the meantime.

This highlights the strategic importance of timing and the willingness of the Commissioners to take charge as soon as possible.

What’s next: It is important to note that the outgoing administration’s SEC, under Gensler’s leadership, initiated more than 80 enforcement actions, citing concerns about fraud and market manipulation.

Many of these lawsuits revolve around the argument that some cryptocurrency tokens operate as unregistered securities and are therefore subject to the jurisdiction of the SEC.

A potential shift in how the SEC classifies and oversees these assets could have a significant ripple effect across the industry.

This is important because companies targeted by the SEC may find themselves in a different legal position when implementing this new approach.

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