Mark Uyeda, Securities and Exchange Commission commissioner (SEC) of the United States, speaks at the 2024 financial market quality conference at Georgetown University in Washington, DC, United States, Tuesday September 17, 2024.
Al Drago | Bloomberg | Getty images
The Trump administration took its first steps Tuesday to a planned drop in regulatory obstacles for cryptocurrency.
In a long -awaited move from the digital asset industry, the Securities and Exchange Commission announced that the acting president Mark Uyeda has launched a “working group on crypto” aimed at “developing a complete and clear regulatory framework for cryptographic active ingredients “.
During the presidential campaign, Donald Trump promised a friendly crypto administration for the industry of 3.7 billions of dollars.
Although Uyeda has announced the initiative, it will be led by the SEC Commissioner, Hester Peirce. Uyeda holds the chair game until Paul Atkins passes the confirmation process and provides application resources.
According to the announcement of the SEC, the task of the panel will consist in developing a clear set of rules while addressing the problems concerning the registration of parts.
“We are impatient to work hand in hand with the public to promote a regulatory environment that protects investors, facilitates capital training, promotes market integrity and supports innovation,” said Peirce.
Bitcoin joined the announcement, up some 2.4% to more than $ 106,000.
Just before his inauguration, Trump underlined his support for digital currencies by publishing his own memes play, called $ Trump, while First Lady Melania Trump published a piece of memes called $ Melania. The two tokens experienced rapid overvoltages before greatly reducing the decline.
The point of view of the White House on the crypto differs strongly from the moment when Joe Biden was president. The president of the dry, Gary Gensler, was considered an enemy of the industry.
During the time of Peopleler to the Commission, he resisted efforts to establish negotiated funds in exchange for crypto, approved difficult accounting policies and filed application cases against the leaders of the industry.
“The clarity of who must register and practical solutions for those who seek to register have been elusive. The result was confused on what is legal, which creates an environment hostile to innovation and conducive to the fraud, “said the announcement of the commission. “The dry can do better.”
The working group intends to hold public hearings and request comments from the industry. He will work with the federal departments and agencies, including the Commodity Futures Trading Commission.
“This company will take time, patience and a lot of hard work. It will only succeed if the working group has the contribution of a wide range of investors, participants in industry, academics and ‘Other interested parties, “said Peirce.
