What You Should Know:
- The U.S. SEC is reviewing previous cryptocurrency guidance to ensure it aligns with current objectives, as indicated by Acting Chairman Mark Uyeda.
- Significant documents under scrutiny include statements regarding bitcoin futures, digital asset investment contracts, and custody frameworks.
- This evaluation aims to alleviate regulatory pressures affecting the digital assets industry and may result in the establishment of new regulatory guidelines.
SEC staff are revisiting earlier guidance related to cryptocurrencies to verify if it still reflects the agency’s contemporary priorities, according to a post by Acting Chairman Mark Uyeda on social media platform X. Among the various key documents, the SEC’s statement concerning funds catering to the Investment Company Act for bitcoin futures is currently under revision, as referenced in another X post. Additional documents being examined cover digital asset ‘investment contracts’ and custody frameworks. Such reviews may bring more clarity to regulatory frameworks encompassing the digital assets sector.
Continued Efforts: This directive from Uyeda pertains to Executive Order 14192, aimed at deregulating following recommendations from Elon Musk’s D.O.G.E.
It is essential to note that this statement emanates from SEC staff, not from Commissioner Hester Peirce, rendering it less obligatory. Nevertheless, it demonstrates the SEC’s intent to ease the constraints placed on the digital assets sector following the agency’s transition under leadership appointed by former President Donald Trump.
This initiative falls within the efforts of Interim Chairman Mark Uyeda to revamp the agency’s stance on cryptocurrency, which involves dismissing numerous major enforcement actions previously directed at businesses in the digital asset realm.
Read more: U.S. SEC Staff Clarifies That Some Crypto Stablecoins Aren’t Securities.
