The U.S. Securities and Exchange Commission (SEC) is actively reassessing its past guidance related to cryptocurrencies as part of a broader effort to recalibrate the agency’s regulatory framework. According to a statement from acting chairman Mark Uyeda, posted on the social media platform X, this review aims to ensure that existing crypto-related guidance aligns with the SEC’s current priorities.
Among the key documents under review are the SEC staff’s statements regarding funds registered under the Investment Company Act that invest in the bitcoin futures market. This reassessment also encompasses other critical documents related to digital assets, including ‘investment contracts’ and custody frameworks. The implications of these reviews could herald greater clarity in the regulatory landscape surrounding the digital assets sector.
Uyeda’s directives are linked to Executive Order 14192, titled ‘Unleashing Prosperity Through Deregulation,’ and follow recommendations from digital currency advocates, including noted entrepreneur Elon Musk’s D.O.G.E. The request signals a potential shift in the SEC’s approach to cryptocurrency regulation, indicating a desire to mitigate the previously stringent oversight that has characterized the agency’s stance.
It is essential to note that this review originates from the SEC’s staff rather than a directive from the commissioners, such as Hester Peirce. While this makes the review less binding, it nonetheless reflects the SEC’s openness to alleviating regulatory pressures on the digital assets sector, especially following a change in leadership under President Donald Trump’s appointees.
The current move is also part of interim Chairman Uyeda’s broader strategy to reformulate the SEC’s stance on cryptocurrencies, which includes reconsidering many high-profile enforcement actions previously taken against digital asset businesses.
For more insights into the evolving landscape of cryptocurrency regulation, follow updates on the SEC’s position, including clarifications regarding the status of various crypto stablecoins not being classified as securities.
