Many speculate that the American Commission for Securities and Exchange, under a new direction since the inauguration of President Donald Trump, could abandon some of his implementing cases against cryptographic companies.
According to several deposits to the SEC, on February 24, in the past seven days, those responsible for the committee’s crypto working group have met representatives of several companies and industry leaders to discuss questions “linked to the regulation of cryptographic assets”. The working group, launched on January 21 and led by Commissioner Hester Peirce, met the crypto council for innovation advocacy group, the infrastructure provider Zero Hash, the investment company Crypto Paradigm Operations and Strategy Executive Flesh Michael Saylor.
February 21 Memo on the dry meeting with Michael Saylor. Source: SECOND
All the companies and individuals involved in the discussions have provided documents suggesting that the SEC re-evaluates its previously detained position according to which many cryptocurrencies were titles under its reach. The Commission has several measures to apply the law opposite companies, the majority of which were submitted under Gary Gensler at the time, but abandoned an investigation into Robinhood Crypto and Opensea. He can decide to end a case against Crypto Exchange Coinbase.
The reported meetings followed similar discussions between the Crypto dry working group and the representatives of the Blockchain Association, Jito Labs, Multicoin Capital and others. We do not know if the Commission intends to move forward with the trace of a different regulatory path under the acting president Mark Uyeda or to wait for the US Senate to confirm an official chief for the agency – providing for the former commissioner Paul Atkins.
In relation: Dry agree to delete the application file against Coinbase
In a declaration of February 21 entitled “There must be a way to get out of here”, Peirce called for the public’s contribution concerning the agency by considering a regulatory framework for the crypto, which “may not be security itself”. The SEC Commissioner suggested that the agency could consider a regulatory sandbox for projects to solve jurisdictional problems.
Dry “crypto-friendly” or rushing to industry?
Without president of the SEC confirmed by the Senate and with the one -month -old working group, the agency always suggested that it intended to pursue regulatory and legal paths promoting industry. The apparent change is an American president who campaigned to withdraw regulatory roadblocks for industry and launched his own same days before taking office.
On February 19, the Commission moved for a court to voluntarily reject its appeal by blocking a controversial rule of broker on certain crypto companies. The call was filed before peopleler leaves the dry.
Since February 24, the senatoric banking committee had not set a hearing date to discuss the appointment of Atkins to direct the dry. Some of the other Trump’s appointments have mainly crossed the party’s parties, notably the High Speculative Fund manager, Scott Bessent as Secretary to the Treasury.
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