The US SEC has completely transformed its stance towards crypto ever since Gary Genseler, the organization’s ex-chairman, was replaced by Donald Trump. Trump won the presidential election with a promise that he would transform the state into a model of pro-crypto stance.
Trump did try his best to fulfill his promise. As a result, he made major changes in the organizational structure of the US SEC, bringing in Mark Uyeda as an acting SEC chair. Uyeda shares Donald Trump’s vision and is making efforts to make the USA a crypto-friendly state to begin with.
The Winds Of Change
A recent roundtable conducted by the SEC emulates this feeling. The meeting brought some temporary regulation ease. Uyeda addressed the meeting by harking back to a historical anecdote.
He was heard saying, “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.”
He further added, “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.”
In other news, Uyeda is preparing to hand over his chairmanship to businessman Paul Atkins. Atkins shares a similar zeal to turn the US into a crypto state. Therefore, it will be interesting to see where things lead.
