The Securities and Exchange Commission (SEC) has decided to abandon the proposed law for monitoring digital currency exchanges presented during Gary Gensler’s tenure. Mark Uyeda, the interim head of the organization, stated that the definitions in this law lacked sufficient transparency and could include protocols that were not originally intended for regulatory purposes. This law, which could have required digital currency exchanges to register with the SEC, was considered part of the new policies of the organization during Donald Trump’s presidency. In this regard, the SEC has decided to close several important cases against companies active in the digital currency sector, including Kraken, Coinbase, and Robinhood. Furthermore, the SEC’s Digital Currency Specialist Group, under the leadership of Hester Peirce, plans to examine and evaluate legal challenges and policies related to digital assets by holding specialized roundtable discussions. These actions indicate a shift in SEC’s approach towards the digital currency market and efforts to establish a more suitable legal framework.
