Oh my, oh me! The SEC’s crypto unit, once a mighty force to be reckoned with, is now being scaled back to the size of a tiny mouse 🐭. It seems the Trump administration is on a mission to ease regulations and let the crypto wild west run amok 🤠.
According to a New York Times report (and we all know how reliable those are 😉), some team members are being reassigned, and one top lawyer was moved out of the enforcement division. Ouch, that’s gotta hurt! Some folks are calling it a demotion, but we’re sure it’s just a “reorganization” 🙄.
It’s all part of President Trump’s master plan to “secure America’s position as the world’s leader in the digital asset economy.” Because, you know, the key to success is to just remove all the rules and let everyone run wild 🤪. One of his first executive orders was to “eliminate regulatory overreach” on crypto, because who needs regulations, anyway? 🙅♂️
Acting SEC Chair Mark Uyeda, a Republican with a heart of gold (or so we’re told), has formed a task force to review crypto rules. And who better to lead it than SEC Commissioner Hester Peirce, a known crypto supporter? 🤝 It’s like putting a fox in charge of the henhouse, but hey, what could possibly go wrong? 🐓
Corey Frayer, a former senior adviser to Gensler, is not amused. He says the new SEC leadership is trying to remove the “speed limits and guardrails” that have kept the SEC’s approach to crypto from becoming a total free-for-all 🚗. But hey, who needs speed limits when you can just drive as fast as you want and hope for the best? 🤯
And if all that wasn’t enough, Trump has nominated Paul Atkins, a longtime advocate for lighter regulations, to lead the SEC. Because what could possibly go wrong with that? 🤦♂️ His confirmation hearing is still pending, but we’re sure it’ll be a total cakewalk 🎂.
During his campaign, Trump vowed to end sweeping crypto crackdowns, and reports suggest the SEC may dismiss certain digital asset-related litigations that don’t involve financial fraud. Because, you know, a little bit of fraud never hurt anyone 🤑.
As crypto.news reported earlier, the “SEC 2.0” appears to be charting a course long suggested by the crypto industry, one focused on clarifying regulatory oversight and establishing guidelines for cryptocurrencies and digital assets. But let’s be real, it’s all just a bunch of mumbo-jumbo 🤯.
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2025-02-05 10:02