Oh, the drama! In the latest SEC saga, Acting Chair Mark Uyeda has decided to take a hard, fresh look at crypto regulations. You know, just a casual “let’s see what we’re actually doing here” moment. The man’s out here asking his team to review how the government is handling crypto risks. This is all part of his big plan to align with Executive Order 14192—basically trying to make regulations *less* of a hassle. Because who doesn’t love a little bit of deregulation? 🥳
One of the first things on his chopping block? The 2019 Framework for Investment Contract Analysis of Digital Assets. This came from a speech in 2018 by Bill Hinman, a former SEC bigwig, who decided that the fate of a crypto token—whether it’s a security or not—depends more on how centralized the project is, and less on how it was sold. Wild, right? And naturally, that sent the crypto world into a full-blown identity crisis. Now, it seems like Uyeda’s ready to give that whole idea the side-eye and reconsider it. I mean, it’s 2025, let’s move on, shall we? 😏
Statement from Acting Chairman Mark Uyeda: Pursuant to Executive Order 14192, Unleashing Prosperity Through Deregulation, together with recommendations from DOGE, I have requested Securities and Exchange Commission staff promptly to review the following staff statements.
— U.S. Securities and Exchange Commission (@SECGov) April 5, 2025
But wait, there’s more! Uyeda isn’t stopping at Hinman’s old speech. He’s also cracking open some juicy documents for a second opinion, including:
- A 2022 guide for crypto companies on how to survive market chaos and bankruptcies (classic crypto vibes).
- A 2021 risk alert warning investors about crypto’s fuzzy rules (shocking, right?).
- A 2020 memo debating if banks should even be allowed to hold digital assets. Good times.
- A 2021 advisory about mutual funds dipping their toes into Bitcoin futures (we’re all just here for the drama).
- A 2020 note about COVID-19 messing with company disclosures (because why not throw a pandemic into the mix?).
Basically, Uyeda’s mission is to roll back some of the more draconian rules that were set in stone during Gary Gensler’s tenure as SEC Chair. Gensler, who was known for being a little…let’s say, *enthusiastic* about crypto regulation, didn’t win a lot of fans in the industry. In fact, courts even called his policies “arbitrary and capricious” (ouch). Now, with Uyeda steering the ship and crypto-friendly voices like Hester Peirce and Paul Atkins pushing for a little more transparency, it seems like the SEC might finally be ready to loosen its grip. Can we get a round of applause? 👏
The SEC is holding crypto roundtables, meeting with industry leaders, and just had a cozy little chat with BlackRock to discuss crypto ETFs. It’s all starting to look like a crypto renaissance is on the horizon. Everyone’s watching with bated breath to see how the rules will change, and who can blame them? Crypto’s been waiting for a little more sunshine and a lot less red tape. 🌞
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2025-04-07 07:07