SEC Considers Revising Cryptocurrency Proposal Under New Leadership

According to BlockBeats, on March 11, FOX Business journalist Eleanor Terrett reported that the U.S. Securities and Exchange Commission (SEC), under the leadership of Acting Chairman Mark Uyeda, is contemplating abandoning parts of a 2022 proposal from the Gensler era. This proposal aimed to expand the definition of Alternative Trading Systems (ATS) to include certain cryptocurrency companies. During Uyeda's speech at the annual Washington conference of the International Bankers Association, he stated, "Given the strong negative public feedback on including cryptocurrencies in the trading platform definition, I have asked SEC staff to provide options for abandoning that part of the proposal." Uyeda also requested that staff re-engage with the U.S. Treasury, the Federal Reserve, and market participants to discuss areas where the commission should advance regulatory changes for alternative trading systems.