One of the proposals for regulating the US stock and values commission. UU. It destined the segments of the cryptography space under the jurisdiction of the agency had tried to expand which places of commerce believe that they must register in a way that includes digital asset businesses, and interim president Mark Uyeda seeks to reverse that effort.
The rule has spent years in process and is waiting to be finished at the agency, but Uyeda has asked the sec personnel to stop that.
“In my opinion, it was a mistake for the commission to link the regulation of treasure markets with a hard hand attempt to eliminate the cryptography market,” he said in established comments for the delivery on Monday to the Institute of International Bankers in Washington. “In the light of the significant negative public comment received about the definition of exchange regarding cryptography, I have asked the SEC personnel on the abandonment of that part of the proposal.”
Read more: the SEC of the United States outside the limits to drag Defi to the proposed exchange rule, says Industry
The new way in which the agency had tried to identify exchanges under its jurisdiction was to say that it included certain “communications protocols”, but those were sufficiently identified, and the resulting proposal “would have collected several protocols used with respect to cryptographic assets,” said Uyeda.
The rule’s proposal had been among several events under the mandate of former President Gary Gensler, whose cryptographic work has been attacked by the new leadership elevated by President Donald Trump.
