SEC staff to re-evaluate the Biden-era-crypto-guidance in the midst of legislative shaking

Personnel at the US Securities and Exchange Commission (SEC) reviews previously crypto-related guidance to determine if it still reflects the agency’s current priorities, according to a statement from acting chairman Mark Uyeda, published on Social Media Platform X.

Among several key documents are the SEC staff’s statement of funds registered under the law of the investment company investing in the Bitcoin Futures market, according to X Post. Other documents include digital assets “investment contracts” and custody frameworks. The reviews can result in more clarification for a legislative framework around the sector for digital assets.

The request from Uyeda is related to executive order 14192, free up wealth through deregulation and comes after a recommendation from Elon Musk’s DODE

It is worth noting that the statement comes from SEC staff and not from commissioner Hester Peirce, making it less binding. However, it still shows SEC’s willingness to facilitate the pressure on the sector for digital assets since the agency was taken over by President Donald Trump-appointed leadership.

The move is part of preliminary chairman Mark Uyeda’s efforts to review the regulator’s crypto position. It includes throwing most of the prominent enforcement cases that the agency had pursued against digital asset companies.

Read more: US SEC STAFF clarifies that some crypto -stableCoins are not securities

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