The American Securities and Exchange committee has canceled a list of rules that the agency has proposed under the Biden administration, two of which concerning the guard and cryptographic exchanges.
The SEC said on Thursday that it “withdrawn certain advice from proposal for regulation” which were issued between March 2022 and November 2023 under former President Gary Gensler.
The agency added that it “does not intend to issue final rules with regard to these proposals” and new rules will be proposed if it will change its position in future regulatory measures.
This is the latest regulatory decline by President Donald Trump, who promised a deregulation of crypto and traditional markets.
“Down goes 3B16, the qualified goalkeeper and all other unfinished people’s rules,” said Coinbase Leader Paul Grewal to X. told X.
Canceled exchange definition rule
Among the 14 rules withdrawn by the SEC appeared rule 3B-16, which would have expanded the definition of “exchange” to include decentralized funding protocols and tightened the cryptography guard standards for investment advisers.
The amendment has defined certain terms used in the definition of “exchange” to include “systems that offer the use of non -farmless negotiation protocols to bring together buyers and securities sellers”.
The broad declaration could have seen many decentralized financial protocols (DEFI) classified as exchanges of securities.
The SEC published for the first time the modifications proposed to rule 3B-16 under the exchange law in March 2022.
The president of the SEC with action of action Mark Uyeda proposed to abandon the change of rule to extend the definition of “alternative trading systems” to include cryptographic companies in March.
Current cryptocurrency
The SEC also killed a rule proposed in March 2023 which would have increased the requirements in terms of childcare for the crypto.
The asset rule of customers of safeguarding the drying of the dry would have extended the existing childcare rules under the 1940 placement advisers.
Investment companies would be required to hold all customer assets, including the crypto, with a “qualified goalkeeper”, which generally meant regulated banks or brokers.
Most crypto exchanges and portfolio providers did not respond to the definition of “qualified guards”, which could have forced advisers to change providers or leave space.
In relation: CFTC’s pham says that it will not give “an easy street” to anyone, Crypto included
In March, Uyeda asked its staff to possibly withdraw the proposed rule of the Cryptography Guard.
🚨 Last: the SEC officially removes several regulatory proposals, including the enlarged guard rule, rule 3B-16 for DEFI exchanges and improved ESG report requirements of the era people. pic.twitter.com/v0jo3fkk8h
– Cointtelegraph (@cointelegraph) June 13, 2025
Other rules canceled
The other rules withdrawn by the regulator included the management of cybersecurity risks and report rules for investment advisers and funds, which have had implications for Crypto fund managers and digital asset guards.
A rule for position reports for large security -based exchanges, potentially affecting entities with large exposures of cryptographic derivatives, has also been removed.
The regulator has also revoked its proposal to ensure that public companies comply with improved ESG (Environment, Social and Governance) report.
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