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 aimed at regulating crypto trading platforms, which was set to bring more digital asset businesses under the agency’s jurisdiction. Citing significant public backlash and the mistaken linkage of crypto regulation to Treasury markets, Uyeda has instructed SEC staff to explore options for abandoning this part of the proposal, which has been in development for years under previous chair Gary Gensler.