The SEC may abandon the proposal requiring cryptocurrency companies to register as trading platforms

ChainCatcher news, according to Cointelegraph, SEC Acting Chair Mark Uyeda recently announced that he has asked staff to study the proposal to abandon the requirement for crypto companies to register as exchanges. Uyeda stated, "The public has raised a lot of negative comments about expanding the definition of 'exchange' to the crypto space, and linking the regulation of the U.S. Treasury market to the suppression of the crypto market is a mistake."

The rule was initially proposed by former SEC Chair Clayton in 2020, primarily targeting participants in the U.S. Treasury market. However, after former Chair Gensler took office, the regulatory scope was significantly expanded to include cryptocurrency companies under the definition of "exchange," leading to controversy.

After Gensler's resignation, the SEC's attitude towards the crypto industry has clearly shifted to a friendlier stance, withdrawing lawsuits against several crypto companies and establishing a dedicated group led by crypto-friendly Commissioner Peirce to develop a regulatory framework for digital assets.