Top Republican Officials at the Us Security and Exchange Commission Are Poised to Begin overhauling the agency’s cryptocurrency policies potential as early as early as next week vahek on Donald Trump takes power, said three people briefed on the matter.
Among the measures commissioners Hester Peirce and Mark Uyeda Are Initiating The Process that would Ultimately Lead to Guidance or Rule Rules Clarifying when the Agency Consides AGENCYS AGENCYS AGENCYS AGENCYS be a security, and reviewing some crypto enforcement cases pending in the courts, two of the people said.
Paul atkins, trump’s crypto-friendly pick for sec chair and former agency commissioner, is widely expected to end a crypto crackdown Led by president bicec chiry Gensler, but it is unclear when the senate will confirm.
Gensler has said he will step down on January 20 when trump is sworn in.
As of Next Week, Peerce and Uyeda will hold the mayority among the agency’s politically -ppointed commissioners and are poised to get the ball rolling in the interim, the people said.
Like Atkins, The Pair Are crypto Enthusiasts who have done critic gensler’s tough stance on the industry and have in the past floated alternative crypto-friendly initiatives. Peerce and uyeda was aides to atkins when he was at the Sec from 2002 to 2008 and the Three Have a Good Relationship, According to one of the sources and Several other form SEC OFFICILS. The three have discusced Potential Crypto Policy Changes, Said the sources who declined to be identified discusing private policy plans.
Peerce, Atkins and their representatives did not respond to requests for comment. A spokesperson for uyeda did not respond to a request for comment. Worned about fraud and market manipulation, gensler’s sec brieft at least 83 crypto-Related enforcement actions, suing multiple prominent companies like Coinbase and KrakenAgency data shows.
In many cases, the sec argued crypto tokens behave like security and that the companies and their products should comply with comply with sec rules, allege some allege fraud. In the first less days of the new administration, the sec is expected to begin a review of that court cases and potentially freeze some liteigation that does not involve allegation of fraud, said two of the sourors.
Some of that castes could eventually be withdrawn. Many of that defendants argue cryptocurrency are more like commodities than securities and that it is not clear when sec rules apply. They have called for the sec to write new regulations which would class a token is a security. Peerce and uyeda are expected to kick off the early stages of that rules of that rules, likely with a call for industry and public feedback, the twoo sources said.
Reuters and others have previously reported that sec is also likely to quickly rescind accounting guidance on behalf of third parties.
Trump, Who Courted Crypto Campaign Cash With Pledges to Be a “Crypto President,” is also expected to is also expected to is more experts execuable orging regulators to review Reported. Bitcoin Soared Past $ 100,000 (roughly Rs.
‘Held Accountable’
Still, even with a head start, reaching an agarendra Dismissing dozens of enforcement actions Attorney. In some cases, the court may object, said other lawers.
One option for the agency would be to re-Open Settlement Negotiations, Said Robert Cohen, A Partner at Davis Polk Who Previously worked in the sec’s enforcement division. Settlement Talks, AIMED at Averting Lengthy and Public Litigation, Are the Norm, But Crypto Companies Say the sec under gensler has been ungiled to engage in Substantive Discussions. Cohen added the new sec leader “I think the industry wants to see fraudsters or wrangdoers help accountable,” He added.
© Thomson Reuters 2025
(This story has not been edited by ndtv staff and is auto-generated from a syndicated feed.)
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