The new Trump administration is set to significantly impact SEC's cryptocurrency policy, promising a reconsideration of current regulatory practices.
Appointment of new SEC chair
Donald Trump has appointed Paul Atkins as the new SEC chair. Known for his crypto-friendly views, Atkins is expected to work closely with Republican commissioners Hester Peirce and Mark Uyeda, who have been critical of former Chair Gary Gensler's tough stance on the crypto industry.
Regulatory review plans
The new SEC administration is considering reviewing enforcement actions, including freezing or dismissing cases not involving fraud allegations. There are plans to discuss when cryptocurrencies should be classified as securities and to ease accounting rules, making cryptocurrencies more appealing for companies.
Impact on the crypto industry
The change in SEC policy could significantly affect the cryptocurrency industry. The industry awaits new regulatory guidelines that may be more favorable, especially with the rising value of Bitcoin.
Changes in SEC leadership and policies are likely to lead to a more flexible approach in regulating crypto assets, potentially fostering growth and innovation in the U.S. cryptocurrency industry.
