The SEC may halt non-fraud cryptocurrency cases, potentially leading to a shift in the agency's strategy.
Potential Changes in SEC Policy
According to sources, the SEC may start overhauling its cryptocurrency policies next week following Gary Gensler's departure. The new Republican majority on the commission, including Mark Uyeda and Hester Peirce, will work on clear rules to determine whether a token is a security.
Cryptocurrency Surge Amid News
The price of XRP, affiliated with Ripple, has surged to a multi-year high of $2.97. Meanwhile, Bitcoin's price is approaching the $100,000 mark, indicating a positive market sentiment.
Impact of Gensler's Departure
Paul Atkins was appointed as Gensler's replacement in December, receiving praise from the crypto community. This appointment is expected to lead to a crypto policy shift. Currently, the SEC is on track to file its appeal against Ripple, having refused to delay the filing of the opening brief.
Changes in the SEC are expected to significantly affect the approach to cryptocurrency regulation in the US, potentially impacting their prices and overall market condition.
