Mark Weda, interim president of the Bag and Securities Commission (SEC), has directed that Bitcoin (BTC) and cryptocurrency companies are not registered as alternative trading systems. The change marks a turn for businesses in the sector that have met these regulations since 2022. Uyeda is trying to reverse its previous policy and ease the oversight of these companies.
In an audience with American bankers, Weda ordered SEC officials to find a way to abandon the regulations. In 2022, under the direction of Gary Gensler, Agents have expanded the concept of alternative trade systems Includes some cryptocurrency companies.
Alternative negotiation systems, or ATS) are platforms that allow you to sell financial value other than traditional bags, such as the NYSE and Nasdaq. These structures facilitate transactions between buyers and vendors in a flexible way.
The 2022 scale has placed a great deal of scrutiny on companies in the sector. In that sense, Ueda announced that he had directed the plan to be eradicated. “It is an expansion of previous efforts aimed at operating in the treasure bond market,” according to the interim president. In his words, “It was a mistake to combine the regulations of the treasure market with a harsh attempt to stop the cryptocurrency market.”
Uyeda reported that he asked SEC officials to resume conversations with the Treasury and the Federal Reserve. We also included other market participants in the dialogue. the goal It is to reconsider the original plan for changes to the alternative negotiation system of government values. These arguments seek to align policies with less restrictive approaches to cryptocurrency.
The Uyeda Ordinance is part of the new SEC policy for the sector. In January, the agency created a working group on cryptocurrency. The team began to dismantle previous restrictions such as the Bulletin Sab 121. New SEC too Dismissed the case against the company Coinbase, Uniswap, Robinhood, and others were previously requested under the control of Gensler. These actions, of course, indicate changes in our relationship with the industry.
It was reported at the end of February that the SEC would prepare a roundtable with representatives from the sector. Reporter Eleanor Terrett indicated that the first five sessions are scheduled for March 21st. The meeting will be held at the SEC office in Washington, DC, these meetings They are trying to establish a direct dialogue with the industry and coordinate regulatory policies.
Ueda’s turn contrasts with Gensler’s position, which led the SEC until January last year. Under its management, The agency has stepped up oversight of the cryptocurrency market. Registration requirements as an ATS were one of the most controversial measures. Companies in this sector argued that the rules did not adapt to the nature of the business. Ueda’s decision is in part in response to those criticisms.
The working group created in January already shows the results. The elimination of SAB 121, which imposed strict accounting requirements, is an example. Requests rejected against Coinbase and other companies reinforce this trend. Apparently SEC is using it A more cooperative position under Weeda’s interim leadership.
Uyeda’s announcement reflects a major change. The SEC moves from its strict stance towards cryptocurrency. The coming weeks will be critical to measure the impact of this decision, and the industry is hoping to take action Follow the course drawn by the interim president.
(tagstotranslate)bitcoin(btc)
