Last week, Gary Gensler spoke at the 56th Securities Regulation Annual Conference, reflecting on his tenure. Sources suggest he may resign, and with Trump potentially appointing a new SEC chair, the approach to crypto regulation could change. Under Gensler, the SEC filed multiple actions against the crypto industry for violating securities laws, but crypto professionals struggled to engage with the SEC.
The new SEC leadership may:
- Pause enforcement on registration violations until clearer crypto regulations are set.
- Issue updated guidelines on crypto assets as securities, including stablecoins.
- Propose tailored crypto rules to address the differences between crypto and traditional securities.
- Use exemptions to grant temporary relief to crypto participants.
- Update broker-dealer guidelines to align with the current crypto landscape.
As the SEC’s approach may shift, crypto market participants should prepare to engage with the new leadership.
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