According to a statement posted by Acting Chairman Mark Uyeda on social media platform X, the U.S. Securities and Exchange Commission (SEC) staff is reviewing past crypto-related guidance to determine if it still reflects the agency’s current priorities.
Among several key documents, SEC staff statements on funds registered under the Investment Company Act investing in the Bitcoin futures market are under review, according to the X post. Other documents include digital asset “investment contracts” and custody frameworks. These reviews could bring more clarity to the regulatory framework surrounding the digital asset space.
Uyeda’s request is related to Executive Order 14192, which seeks to unleash prosperity through deregulation and was proposed based on the suggestion of Elon Musk’s DOGE
Notably, the statement came from SEC staff, not Commissioner Hester Peirce, and is therefore less binding. However, it still shows that the SEC is willing to take the heat off the digital asset industry, as it has been since the agency was taken over by leadership appointed by President Donald Trump.
The move is part of Interim Chairman Mark Uyeda’s efforts to reform the regulator’s stance on cryptocurrencies. This includes dismissing most of the notable enforcement cases the agency has filed against digital asset businesses.
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