US SEC acting chair walking back to agency’s proposal to crypto trading platforms
One of the proposals in the US Securities and Exchange Commission regulations that were meant to take up crypto space segments under the agency’s jurisdiction seemed to expand what areas of trading are believed to register in a way that includes digital businesses, and the moving chairman Mark Uyeda is looking for that effort.
The rule is years of labor and Awaiting to be confined to the agencyBut Uyeda asked the SEC staff to put the brakes on.
“In my view, it was a mistake for the commission to linked the regulation of Treasury markets with a heavy attempt to overthrow the crypto market,” he said of the statements set for delivery on Monday to the Institute of International Bankers in Washington. “In connection with the significant negative comment of the public received in the sense of exchange with respect to crypto, I asked the SEC staff for abandoning options in part of the proposal.”
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The new way the agency is seeking to identify the exchanges under its constituents is to say that with some “communication protocols,” but they are well identified, and the resulting proposal “will take a variety of protocols used with respect to crypto assets,” Uyeda said.
The proposal rule is among the many acts under the tenure of former chairman Gary Gensler, whose crypto work is targeted by the new leadership raised by President Donald Trump.
