SEC considers dropping controversial rule affecting crypto firms
A controversial rule that expanded the definition of exchanges to include crypto firms may be abandoned as U.S. Securities and Exchange Commission Acting Chairman Mark Uyeda calls for a reassessment.
The regulation in question is a 2020 rule originally designed to refine oversight of Alternative Trading Systems but was later broadened under former SEC Chair Gary Gensler to cover crypto platforms.
Speaking at the Institute of International Bankers’ Washington Conference on March 10, Uyeda said the rule’s expansion was a mistake and has asked SEC staff to explore dropping the crypto-related provisions.
Uyeda explained that the rule was initially meant to improve transparency and oversight of Government…
