Ripple's chief legal officer, Stuart Alderoty, has urged Congress to adopt innovation-friendly cryptocurrency regulations that focus on regulating activities rather than technology. He cautioned against enshrining abstract principles from previous policies without thorough study and consensus, amid criticism of the SEC's stringent enforcement approach. The evolving political landscape, particularly with President Trump's support for digital assets, may lead to more favorable regulations that balance investor protection with technological growth.
As Donald Trump prepares to take office in 2025, the Digital Chamber is advocating for a significant overhaul of the SEC's approach to cryptocurrency regulation. The group emphasizes the need for transparency and collaboration, criticizing past policies and urging a shift towards a more cooperative regulatory framework.The Chamber also calls for legislative action on stablecoins and opposes the reappointment of SEC Commissioner Caroline Crenshaw, citing her detrimental impact on crypto innovation. With a potential policy shift on the horizon, stakeholders are hopeful for a balanced approach that fosters innovation while protecting investors.
The Digital Chamber is calling for the SEC to "reset" its relationship with the crypto sector as Donald Trump prepares to return to the presidency. The advocacy group argues that Trump's crypto-friendly policies could foster transparency and cooperation, addressing regulatory concerns in his first 90 days. They also criticized the SEC's previous regulatory approach under Gary Gensler, advocating for clearer guidelines to help market participants comply with regulations.
A prominent crypto advocacy group is urging the SEC to reassess all crypto-related cases under the incoming Trump administration, anticipating a more cooperative regulatory environment. The proposal emphasizes the need for clear regulations and a shift away from "regulation by enforcement" to foster trust within the digital asset community. Additionally, new FASB guidance mandates that companies report digital assets at fair market value starting in 2025, enhancing transparency for investors.
The Digital Chamber of Commerce is urging the incoming SEC leadership to review all crypto-related investigations and lawsuits from day one, advocating for a reset in the SEC's relationship with the digital asset industry. They propose pausing probes not involving fraud or investor harm and repealing key regulations like SAB 121, which burdens crypto custody providers. With bipartisan support for these changes, the Chamber aims for a more transparent regulatory framework under new SEC Chair Paul Atkins, succeeding Gary Gensler.
Senator Tim Scott, the new chair of the U.S. Senate Banking Committee, plans to introduce the Financial Innovation and Technology for the 21st Century Act (FIT21) and a stablecoin bill to establish clearer crypto regulations in 2025. He aims to create a digital assets subcommittee and aligns with pro-crypto initiatives alongside the incoming Trump administration. Despite expected criticism from Senator Elizabeth Warren, Scott emphasizes the potential of crypto as the "next wonder of the world."
The U.S. Securities and Exchange Commission has issued a Wells Notice to the NFT project CyberKongz, indicating potential securities violations related to its ERC-20 token and blockchain game. CyberKongz plans to challenge the notice, arguing that the SEC misinterpreted a technical upgrade as a token sale. The situation raises concerns for the broader blockchain gaming industry, particularly for projects combining NFTs with utility tokens.
TD Cowen predicts that the SEC will likely proceed with crypto regulations without Democratic commissioners in the new year, following the departures of Chair Gary Gensler and Commissioner Jaime Lizárraga. Commissioner Caroline Crenshaw, the only remaining Democrat, faces challenges in her renomination, which could lead to an all-Republican commission under Chair Paul Atkins. This shift may expedite rule-making but poses risks to bipartisan support, potentially affecting the stability of future crypto regulations.
Paul Atkins, nominated by President Trump as the next SEC chair, is expected to shift the agency's approach to crypto regulation, moving away from the aggressive tactics of his predecessor, Gary Gensler. While Atkins is pro-crypto and advocates for clearer regulations, significant changes may take time due to existing legal precedents and ongoing lawsuits. His familiarity with current SEC staff, including pro-crypto commissioners, could facilitate a more accommodating regulatory environment for the industry.
Interest groups, including Public Citizen, are urging the US Senate to confirm Caroline Crenshaw for a second term at the SEC before the new Congress begins. With the potential for a Republican majority, the confirmation window is narrow, as Crenshaw could be the last remaining Democrat at the agency after key departures. Critics from the crypto industry are opposing her nomination, citing her previous votes against crypto-related initiatives.
Seems like the connection with the server has been lost. It can be due to poor or broken network. Please hang on while we're trying to reconnect...
Oh snap! Failed to reconnect with the server. This is typically caused by a longer network outage, or if the server has been taken down. You can try to reconnect, but if that does not work, you need to reload the page.
Oh man! The server rejected the attempt to reconnect. The only option now is to reload the page, but be prepared that it won't work, since this is typically caused by a failure on the server.
