The US Securities and Exchange Commission is an important reversal of the policy of Biden era.
On Thursday, the committee confirmed that it was formal Withdrawal of 14 proposed rules Introduced between March 2022 and November 2023, including various who wanted to expand cars supervision of digital assets.
In a report, the SEC stated that “withdrawing certain notifications of proposed regulations” and made it clear that it does not intend to give final rules about these matters.
“If the Commission decided to take future regulatory action in one of these areas, this will issue a new proposed rule,” said the SEC.
One of the withdrawn rules was the proposed change of Rule 3B-16 under the Exchange Act, which was intended to define again what is eligible as an “exchange” under the federal securities laws.
The amendment, presented for the first time in March 2022, would have expanded the exchange definition with communication systems that facilitate trade in crypto and decentralized financial protocols.
Critics have warned that the language used in Rule 3B-16 could have treated many Defi platforms as regulated stock exchanges, even if they only offered protocols for buyers and sellers to communicate without direct intermediaries.
The proposed security rule for securing advisory assets rule, which would have tightened the custody requirements for registered investment advisers, which would be mandatory that all client assets, including crypto, were held with a “qualified custodian”.
Most crypto-native custody providers did not meet the proposed definition, which expressed concern that investment advisers would receive limited options or forced to leave completely digital assets.
Thursday’s rollback reflects a broader reorientation within the SEC. Under the Trump government, the committee has left the policy led by enforcement, so that it is called a “constructive” regulatory attitude.
Spieting That change is SEC chairman Paul Atkins, a former commissioner and a long -term advocate of limited government intervention. Since the performance in April in April, Atkins has commissioned the agency to scale up strategies managed by enforcement in favor of a clearer, innovation -friendly policy.
As part of this overhaul, the SEC has set up a new Task Force for Digital Assets to re -assess its approach to Crypto Supervision. Within a few weeks, the Task Force was moved to conclude various high -profile studies, including cases with Coinbase, Kraken, Consensys, Yuga Labs and OpenSea.
