The Crypto unit of SEC, which expanded under its former chair, is now being scalled back.
The US Securities and Exchange Commission is allegedly scaling back to its crypto enforcement unit as the Trump administration is ready to reduce the rules. According to New York Times ReportWhich cites close sources of the case, some members of the team are being re -assigned. A top lawyer was taken out of the enforcement division, which some people see as a demotion.
The step is part of a comprehensive change under President Donald Trump. One of his first executive orders called “To end” regulatory overrech “on Crypto in an attempt to secure the position of America as the world leader in the digital asset economy.
Acting SEC President Mark Uyda, a Republican, has already formed a task force to review the Crypto rules. He also appointed a known Crypto supporter, SEC Commissioner Hester Peerus to lead it. However, some of the latest changes are seen as a step to remove the “speed limits and guards”, which has shaped the SEC outlook for Crypto.
Corer Fire, a former senior advisor to Gensor, criticized the changes, saying, “What is the proposal of new SEC leadership for Crypto, this speed limit and railing have been removed which has made our capital markets the strongest in the world . “
Meanwhile, Trump has nominated a long -time lawyer Paul Atkins for light rules to lead SEC. Their confirmation hearing is still pending.
During his campaign, Trump vowed to end the Crypto Cripdown, and reports suggest that the SEC may dismiss some digital asset cases that do not include financial fraud.
As Crypto.news reported earlier, “SEC 2.0” appears to be a long -term chart to a course suggested by the Crypto industry, one on clarifying regulatory monitoring and establishing guidelines for cryptocurrency and digital assets be focused.
