tl;dr
Mark Uyeda, Acting Chair of the US Securities and Exchange Commission (SEC), has encouraged input from the crypto industry on a proposed framework to ease regulatory pressure on digital asset trading. At the SEC’s Crypto Task Force roundtable, Uyeda highlighted the need for regulatory frameworks tha...
SEC's Acting Chair, Mark Uyeda, has encouraged input on a proposed framework to ease regulatory pressure on digital asset trading. The SEC is considering a federal licensing model to streamline crypto compliance, acknowledging the evolving nature of crypto markets. Uyeda has proposed a conditional relief framework and a unified federal licensing model to support innovation while maintaining investor protections.
At the Crypto Task Force roundtable, Uyeda highlighted the need for regulatory frameworks that align with the distinct structure of crypto platforms. He suggested a unified federal licensing model under the SEC to simplify compliance and enhance market consistency.
Uyeda likened the evolution of crypto markets to the early days of US securities trading, emphasizing the need for regulations that align with the distinct structure of crypto platforms. He emphasized the benefits of blockchain technology in improving transparency, efficiency, trading speed, and collateral management.
Uyeda acknowledged the challenges posed by existing rules and the patchwork of state-by-state licensing requirements in the crypto space. To address these gaps, he proposed a conditional relief framework and a unified federal licensing model under the SEC to simplify compliance and enhance market consistency.
Uyeda's remarks signal the SEC’s growing awareness of the need for digital asset regulation evolution and the proposed relief framework to create room for innovation without compromising market safeguards.