THE Commission of securities (Dry) can abandon a proposal that would be Develop the regulation of alternative trading systems (ATSS) has Include cryptographic companies.
Speaking on Monday (March 10) at a conference of the Institute of international bankersPresident of the dry Mark T. Uyeda said that he had asked the staff of the SEC options on the abandonment of this part of a proposal linked to regulatory changes to the TABLs of the ATSS government, according to Remarks released by the dry.
Uyeda said in His remarks that He made it “in the light of the important negative public commentary received on the definition of exchange in relation to the crypto”.
FurthermoreUyeda asked the DRI staff to work with the Treasury DepartmentTHE Federal reserve and market participants to determine if the dry should move forward with these regulatory changesdepending on the remarks.
After the committee under the former president of the dry Jay Clayton Issued a rule proposed in 2020, the Commission under the president Gary Gensler Rewrite this proposal in 2022 to redefine the regulatory definition of a “exchange” in a way that would extend the list of affected entities, said Uyeda.
“The new definition of the term” exchange “included” communication protocols “without clearly defining what this term meant,” said Uyeda in his remarks. “Indeed, the considerably extended definition of an” exchange “would have picked up various protocols used Regarding Cryptographic active ingredients. In my opinion, it was an error for the Commission to link the regulations of the treasury markets with a heavy attempt to suppress the cryptography market. »»
Uyeda’s remarks occurred a few days after the White House welcomed the nation First of all “”Crypto“, Who gathered President Donald Trump, Treasury Secretary Scott BessentTrade secretary Howard Libenick“AI and CSAR Crypto” David Sacks And more than two dozen cryptography leaders and representatives of federal agencies.
THE Summit aimed to share comments on how the United States can become a leader in digital asset spacePymnts reported Friday March 7).
In January, the SEC launched a Crypto working group focused on the development of a “complete and clear” regulatory framework for cryptographic assets. The working group will collaborate with SEC staff and the public, said the commission at the time in a press release.
