The US Securities and Stock Exchange Committee (SEC) may transfer its position on encryption regulations, as Commissioner Mark Oida calls for the abolition of certain judgments from the 2020 base that was expanded during the era of former President Gary Ginsler.
The list, which was originally aimed at enhancing the supervision of alternative trading systems (ATS) that deal with government securities, was later to include encryption platforms.
Uyeda now argues that this expansion was wrong, with a mysterious language that is likely to be subject to a wide range of entities related to encryption to strict exchange regulations.
His comments come at a time when the Supreme Education Council appears to have retracted some aggressive measures taken against encryption companies in recent years.
SEC has turned into the encryption policy
Uyeda raised concerns About the expansion of al -Qaeda at the International Bankers Institute conference in Washington on March 10.
He pointed out that SEC’s decision to extend the list beyond its original scope had unintended consequences.
The revised rule, presented under Gensler in 2022, included mysterious terms such as “Communications Protocols”, which Uyeda argues that it was supposed to have been forced by the DEFI (DEFI) and other coding entities for registration for registration.
He described the move as a “mistake” and claimed that linking the Ministry of Treasury market as an aggressive occurrence on Crypto was a transgression.
Uyeda has issued SEC instructions now to explore the possibility Remove these provisions related to encryption While maintaining the primary goal of the base of improving transparency and supervising the government securities ATSS.
Industry recovery and SEC changes
The general response to the expanded definition of exchange was significantly negative.
Participants in the industry criticized the Supreme Education Council for their failure to provide clear organizational guidelines and impose excessive compliance burdens on encryption platforms that do not work traditional devices.
Uyeda comments indicate that SEC is now re -evaluating its location, and perhaps in response to a widespread violent reaction and the legal challenges that followed.
This shift in the approach follows the recent SEC decisions to drop many prominent enforcement cases against encryption companies, including Gemini and Kraken.
The organizer launched a work group aimed at developing clearer policies of digital assets, indicating a possible departure from its previous heavy strategy of enforcement.
Under the leadership of Jinsler, the Supreme Education Council began more than 100 enforcement cases against encryption companies, as it placed themselves as one of the most aggressive organizers in space.
SEC rethinking legal battles
Uyeda position is in line with other recent developments that indicate that SEC re -evaluates some of its policies targeting the encryption sector.
On February 20, the agency withdrew its appeal in a case against the Texas Court’s decision that had dropped a separate base of the mediator.
This rule, which was presented under Gensler, has sought to classify some Defi platforms, liquidity offices and market makers as traders, making it subject to registration requirements.
The withdrawal of the Securities and Stock Exchange from this issue, as well as pushing UYDA to eliminate the provisions related to encryption from the ATS base, indicates a review of regulatory methods on digital assets.
Although it is unclear to what extent the Securities and Stock Exchange Committee will go to back down from previous measures, the agency’s recent procedures indicate that it is away from the strict policies that have defined its position under Jinsler.
The results of this regulatory re -evaluation can have long -term effects on the encryption industry.
The decline in these provisions may reduce the pressure of compliance on Defi platforms and other encryption companies, which may pave the way for more innovation in this sector.
However, it also raises questions about how SEC plans to regulate digital assets to move forward, especially with the continued development of new enforcement strategies and regulatory frameworks.
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