SEC's Uyeda Considers Abandoning 2022 Proposal Requiring Crypto Firms to Register as Trading Systems Under Trump Administration

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Updated Mar 12, 2025, 12:51 AM

The U.S. Securities and Exchange Commission (SEC), under Acting Chair Mark Uyeda, is considering abandoning a 2022 proposal that would have required certain cryptocurrency firms to register as alternative trading systems (ATS). This proposal aimed to expand the definition of an exchange to include some crypto platforms, which faced opposition from the crypto industry. Uyeda criticized the linking of Treasury market regulations with what he described as a 'heavy-handed attempt to tamp down the crypto market.' He has instructed SEC staff to explore options for withdrawing the crypto-related portion of the proposal, specifically those involving 'communications protocols' that were part of the original rule. This development comes as part of a broader reevaluation of the SEC's stance on cryptocurrencies under the administration of President Donald Trump, with efforts to foster a more collaborative regulatory environment.

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Sources

jdsupra.com(5)decrypt.co(3)coindesk.com(2)reuters.com(2)

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