After hosting its first crypto roundtable earlier in March, the SEC has started reversing its traditional strong position on cryptocurrency under the Trump administration.
After holding its first crypto roundtable on March 21, the US Securities and Exchange Commission will convene four additional roundtables with a focus on cryptocurrency trading, custody, tokenization, and decentralized finance (DeFi).
The SEC stated in a statement on March 25 that the roundtables, which are being coordinated by the SEC’s Crypto Task Force, would begin on April 11 with a discussion on customizing regulations for cryptocurrency trading.
On April 25, there will be a roundtable on crypto custody; on May 12, there will be another roundtable to talk about tokenization and putting assets onchain. On June 6, the series’ fourth roundtable will address DeFi.
SEC Commissioner Hester Peirce, the task force head, said, “The Crypto Task Force roundtables are an opportunity for us to hear a lively discussion among experts about what the regulatory issues are and what the Commission can do to solve them.”
Each roundtable is available for the public to view online or attend in person at the SEC’s offices in Washington, DC, however the precise agenda and speakers have not yet been announced.
Acting SEC Chair Mark Uyeda established the agency’s Crypto Task Force on January 21. Its job is to provide a practical crypto framework that the agency can employ.
“How We Got Here and How We Get Out — Defining Security Status” was the topic of the task force’s first roundtable discussion on March 21.
According to a March 25 announcement, the SEC will also have a roundtable discussion on March 27 about AI’s role in the financial sector.
Uyeda, Peirce, and colleague SEC Commissioner Caroline Crenshaw are scheduled to speak at the discussion, which will cover the governance, dangers, and advantages of AI in the financial sector.
The SEC has been gradually reversing its strict position on cryptocurrency, which was established under previous SEC Chair Gary Gensler, under the Trump administration.
An increasing number of enforcement cases against cryptocurrency companies that the SEC brought under Gensler have been dropped.
Associated with: Before the US debut of XRP futures, Bitnomial dismisses the SEC case.
On March 17, Uyeda, who assumed leadership after Gensler departed on January 20, announced intentions to revoke a regulation that would have tightened crypto custody requirements for investment advisors that was introduced under the Biden administration.
In a speech on March 10, Uyeda also said that he had asked SEC employees for alternatives to a portion of the proposed amendments that would require cryptocurrency companies to register as exchanges and broaden the regulation of alternative trading systems.
Magazine: Important issues remain unanswered by the SEC’s U-turn on crypto
