SEC Abandons Crypto Registration Plan!

The U.S. SEC, under acting Chairman Mark Uyeda, is rethinking a rule to force crypto firms to register as exchanges. Originally part of an effort from 2020, under ex-SEC chair Jay Clayton, to simplify regulations for alternative trading systems (ATSs), the rule found renewed focus under Gary Gensler. Gensler expanded it to include a wide range of crypto activities, sparking public backlash. Now, Uyeda seeks options to scrap it, marking a friendlier shift in the SEC's approach to the crypto industry. The SEC's current stance marks a stark departure from its previously aggressive policies under Gensler.