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

The Acting Chairman of the U.S. SEC, Mark Uyeda, is reconsidering a proposal that would expand the agency’s jurisdiction over crypto trading platforms. This proposed rule, which is awaiting finalization, sought to regulate digital asset businesses alongside traditional exchange regulations. Uyeda highlighted the backlash against this definition and has instructed SEC staff to explore options for abandoning it, indicating concerns over the potential negative impact on the crypto market.