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

The U.S. SEC’s Acting Chairman Mark Uyeda is reconsidering a proposal aimed at expanding the agency’s jurisdiction over crypto trading platforms. Following significant public backlash against the proposal, Uyeda has instructed SEC staff to explore options for abandoning it. He noted that the previous approach mistakenly tied crypto regulation to Treasury markets, which raised concerns about overregulation in the crypto space.