U.S. SEC’s Acting Chair Walking Back Agency Proposal on Crypto Trading Platforms

The Acting Chair of the U.S. SEC, Mark Uyeda, is reconsidering a proposal that seeks to expand the agency’s jurisdiction over crypto trading platforms. He believes it was a mistake to link the regulation of Treasury markets with a strict approach to the crypto sector. Due to substantial public criticism, Uyeda has instructed SEC staff to explore alternatives to abandon that part of the proposal, which has faced pushback since its inception during the tenure of former chair Gary Gensler.