The U.S. Securities and Exchange Commission (SEC) is downsizing its Crypto Assets and Cyber Unit amidst leadership changes and policy shifts under President Donald Trump's influence.
New Staffing Changes at the SEC
Sources report that attorneys in the SEC's crypto and cyber unit are being reassigned to other divisions, with at least one senior lawyer leaving the division entirely. This move aligns with the Trump administration’s broader push to ease regulatory pressure on cryptocurrencies.
Policy Shifts Under Hester Peirce's Leadership
Acting SEC Chairman Mark Uyeda has introduced a policy requiring commissioner approval for launching formal investigations. SEC Commissioner Hester Peirce will lead a task force to review digital asset regulations.
Impact on Pending SEC Cases and Industry Response
The restructuring at the SEC raises questions about pending cases, such as the lawsuit against Coinbase. Some believe this could slow down investigations, while others hope for more constructive engagement with the crypto industry.
The SEC's policy change may indicate a shift from strict regulatory oversight to more sustainable engagement with the crypto industry. However, only time will tell how these reforms will impact the development of digital assets in the U.S.
