SEC Commissioner Voices Concerns on Digital Asset Rules
A commissioner from the U.S. Securities and Exchange Commission (SEC) has raised concerns about the agency's current approach to regulating cryptocurrency.
In a recent conversation with Fox Business, Commissioner Mark Uyeda highlighted the strong influence of Chair Gary Gensler over the majority of SEC employees, which has created a tough regulatory climate for digital assets.
Uyeda humorously pointed out the power dynamics, saying, “Out of 5,000 SEC employees, he manages 4,995, while I’m left with five.”
He called for the SEC to quickly develop clear guidelines for crypto-regulation.
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Although he refrained from commenting on Gensler’s personal motives, Uyeda shared that, based on his 18 years at the agency, he finds the current approach to be misguided. He believes it is crucial for the SEC to define what qualifies as a security under the law.
According to Uyeda, without a solid understanding of what falls under securities regulations, productive discussions cannot happen. He advocates for a thoughtful evaluation of how brokers should handle these securities within the SEC’s purview.
Alexander Zdravkov
Reporter at CoinsPress
Alexander Zdravkov interessiert sich leidenschaftlich für Bedeutungsfragen. Er ist seit mehr als drei Jahren im Kryptobereich tätig und hat ein Auge dafür, aufkommende Trends in der Welt der digitalen Währungen aufzuspüren. Ob er nun tiefgreifende Analysen liefert oder tagesaktuell über alle Themen berichtet, sein tiefes Verständnis und seine Begeisterung für das, was er tut, macht ihn zu einer wertvollen Ergänzung für das CoinsPress-Team.
