Great news from the Supreme Education Council – President Mark Oida asked the team to take a new look at how the government is currently dealing with the risks and coding systems. This comes as part of an attempt to comply with the executive demand 14192, which focuses on cutting the red strip and making the regulations more suitable for business.
One of the first goals is the 2019 framework for analyzing investment contracts for digital assets. This document was based on the 2018 letter made by former SEC company, Bill Heinmann, as it suggested that whether the encryption code is a security that depends more on the centrality of the project, instead of selling it. This idea was controversial in the world of encryption, and SEC appears to be ready to reconsider it.
Uyeda not only looks at the 2018 Bill Henman’s encryption letter – it also reviews the main documents, including:
- 2022 Directory for Curvement Company on market chaos and bankruptcy.
- Alerting the risk of 2021 about the threats of the encryption investor due to unclear rules.
- Memorandum 2020 to interrogate whether banks can keep digital assets legally.
- Consultant 2021 at Bitcoin Future Investment Funds.
- Note 2020 about the effect of Covid-19 on the company’s disclosures.
The review aims to decrease some of the most striking rules that were set during the Gary Ginsler period as SEC president. Jinsler was known for his cruel stance on Crypto, which many felt more about preventing innovation more than protecting investors. His approach even got a “arbitrary and volatile” by the courts more than once.
Now, with Uyeda charges and people like Hester People and Paul Atkins they pay for more transparency, SEC appears to open. They were carrying encrypted warehouses, meeting with industry leaders, and even getting sitting with Blackrock recently to discuss investment funds circulating in encryption and relevant issues.
SEC clearly started cleaning the house, getting rid of old rules, and giving way to a friend of encryption. Certainly investors and encryption lovers are closely watching to see what changes come after that.
