Staff at the U.S. Securities and Exchange Commission (SEC) are reviewing past crypto-related guidance to determine whether it still reflects the agency’s current priorities, according to a statement from acting chairman Mark Uyeda, posted on social media platform X.
Among several key documents, the SEC staff’s statement on funds registered under the Investment Company Act Investing in the bitcoin futures market is under review, according to the X post. Other documents include digital assets “investment contracts,” and custody frameworks. The reviews could result in more clarification for regulatory frameworks around the digital assets sector.
The request from Uyeda is related to Executive Order 14192, Unleashing Prosperity Through Deregulation and comes after a recommendation from Elon Musk’s D.O.G.E.
It is worth noting that the statement is coming from SEC staff and not from Commissioner Hester Peirce, making it less binding. However, it still shows the SEC’s willingness to ease pressure on the digital assets sector since the agency was taken over by President Donald Trump-appointed leadership.
The move is part of interim Chairman Mark Uyeda’s efforts to overhaul the regulator’s crypto position. That includes throwing out most of the prominent enforcement cases the agency had pursued against digital asset businesses.
Read more: U.S. SEC Staff Clarifies That Some Crypto Stablecoins Aren’t Securities
News source: SEC Staff to Reassess Biden-Era Crypto Guidance Amid Regulatory Shakeup
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