365int
Regulatory Shift in the Crypto Landscape
The U.S. Securities and Exchange Commission (SEC) is reconsidering a proposal that would have required certain cryptocurrency firms to register as alternative trading systems. This move signals a potential shift in the regulatory approach toward the rapidly evolving crypto industry.
Background of the Proposal
Initially introduced in 2022, the proposal aimed to increase oversight and ensure regulatory compliance within the crypto sector. However, it faced significant criticism from industry stakeholders who argued that it could stifle innovation and impose undue burdens on emerging companies.
Statements from SEC Leadership
Acting SEC Chief Mark Uyeda acknowledged the concerns, stating that it was a mistake to link regulation of the Treasury markets with stringent measures on the crypto market. He emphasized the need for a more tailored approach that considers the unique aspects of digital assets.
Next Steps for the SEC
The SEC plans to renew discussions with the Treasury Department, Federal Reserve, and market participants to reassess the regulatory framework for government securities alternative trading systems. This collaborative effort aims to strike a balance between investor protection and fostering innovation within the crypto space.
GIPHY App Key not set. Please check settings