- The SEC under acting chair Mark Uyeda compares current crypto regulation to the historic founding of securities trading, signalling a dramatic shift from Gensler’s restrictive approach.
- At an industry roundtable with representatives from Coinbase, Uniswap and others, the agency discussed a time-limited framework allowing US crypto firms to innovate while developing long-term solutions.
- Paul Atkins, recently confirmed as the next SEC chair, is widely viewed as a pro-crypto choice who brings experience advising digital asset organisations despite criticism over his industry connections.
After Gary Gensler’s departure as head of the US Securities and Exchange Commission (SEC), and with Trump’s return to the White House, US politics have never been more pro-crypto.
A recent SEC roundtable, which featured several industry participants, made the pivot especially clear when acting chair Mark Uyeda spoke about the relevance the newly formed SEC team is attributing to crypto:
Over 200 years ago, a group of stockbrokers gathered under a buttonwood tree to establish basic rules for the trading of securities on an organized market in New York City. Today, we are at a similar point in time in the history of markets as we gather to discuss the regulation of crypto asset trading within the United States.
Mark Uyeda, acting SEC chairThat’s quite a contrast to Gensler’s regulation-by-enforcement approach and his persistent refusal to offer any form of guidance, all while claiming that “the rules of the road are clear”.
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US SEC to Work on Long-Term Solution for Industry
This meeting was the second out of a total five planned, and was named “Between a Block and a Hard Place: Tailoring Regulation for Crypto Trading”.
Attendees included people from Coinbase, Uniswap Labs, FalconX and the New York Stock Exchange.
According to Uyeda, the agency is currently assessing how a ‘short-term crypto oversight framework’ could allow US-based crypto firms to continue innovating.
He said the SEC “should consider whether there may be a more efficient method of regulation under an accommodating federal regulatory framework”.
While the Commission works to develop a long term solution to address these issues, a time-limited, conditional exempt relief framework for registrants and non-registrants could allow for greater innovation with blockchain technology within the United States in the near term.
Mark Uyeda, acting SEC chairAtkins Seen as Pro-Crypto Choice
Uyeda will soon hand over to businessman Paul Atkins, who was confirmed as new SEC chair by the US Senate last week. He is generally seen as a pro-crypto choice for the top job.
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Atkins, who served previously as SEC Commissioner from 2002 to 2008, now leads consulting firm Patomak Global Partners and has advised several digital asset organisations.
His past industry ties have drawn criticism from lawmakers like Senator Elizabeth Warren over potential conflicts of interest, though Atkins maintains he complies with all ethics and divestment rules.
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