With Donald Trump assuming office, the US is preparing for changes in cryptocurrency regulation policies, necessitating a review of SEC's policies.
Changes in SEC with Trump's Arrival
Republican SEC officials, including Hester Peirce and Mark Uyeda, are preparing to revise crypto policies to clarify when a cryptocurrency is considered a security. These changes will begin as early as next week after Trump takes office.
Impact on Current Cases
There are plans to review current crypto-related cases which may be frozen. During Gary Gensler's tenure, over 83 cases were initiated, and some may now be reviewed or dismissed. The process is expected to involve consultations with industry and public bodies.
Implications for the Crypto Market
The planned policy revisions could have significant impacts on the cryptocurrency market. The upcoming changes could take months and face legal challenges. Philip Moustakis, a former SEC attorney, noted that dismissing many enforcement actions could set a risky precedent.
The anticipated policy changes at the SEC under Trump's administration could lead to substantial transformations in the cryptocurrency market and require careful assessment of potential consequences.
