Catenaa, Saturday, January 18, 2025 –The US Securities and Exchange Commission(SEC) is set to reassess its cryptocurrency policies following the inauguration of President-elect Donald Trump next week, signaling potential relief for the crypto industry.
SEC commissioners Hester Peirce and Mark Uyeda, both advocates for clearer crypto regulations, are expected to revise enforcement actions and redefine the criteria for classifying digital assets as securities.
The incoming administration may also target the repeal of the contentious Staff Accounting Bulletin No. 121, introduced in 2022, which has been criticized for imposing significant costs on public companies holding digital assets.
The Trump team has already indicated its priority to address crypto-related de-banking issues through executive orders.
Under outgoing SEC Chair Gary Gensler, the agency pursued 83 crypto enforcement actions against firms like Coinbase and Kraken. Peirce and Uyeda aim to reevaluate pending cases, potentially withdrawing actions that do not allege fraud. Industry leaders have long argued that many cryptocurrencies function as commodities, not securities, and require distinct regulatory approaches.
Paul Atkins, Trump’s nominee for SEC Chair, is expected to support these shifts, pending Senate confirmation.
While regulatory clarity is a top priority, finalizing new rules could take months or longer, with the SEC likely seeking public and industry feedback on proposed changes.
