Shift in regulatory approach aims to ease pressure on crypto firms.
SEC to Rethink Crypto Trading System Registration
The U.S. Securities and Exchange Commission (SEC) has announced it will move away from its previous plan to require certain cryptocurrency firms to register as alternative trading systems (ATS). This change, driven by acting SEC Chairman Mark Uyeda, reflects a shift in policy after the initial proposal faced significant pushback from the crypto sector.
Concerns Over Overregulation of Crypto Markets
The 2022 proposal had raised concerns in the crypto community about potential increased oversight and additional regulatory burdens. Uyeda criticized the SEC’s attempt to connect the regulation of Treasury markets with stricter rules for the crypto sector, calling it a misstep. He emphasized the need for more targeted discussions with key market participants.
SEC’s Crypto Task Force Takes a New Direction
Under Republican leadership, the SEC has also launched a crypto task force to reassess its regulatory stance on digital assets. This shift includes pausing or dismissing pending lawsuits against crypto firms and reconsidering the broader framework that governs the sector.
Potential for Future Policy Adjustments
While the SEC has yet to finalize the abandonment of the 2022 proposal, the move signals a growing willingness to reassess the regulatory approach to crypto. The ongoing review could lead to more balanced policies that aim to protect investors without stifling innovation in the digital asset market.
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