Employees at the U.S. Securities and Exchange Commission are currently reassessing previous guidance related to cryptocurrency to see if it aligns with the agency’s updated priorities, based on comments from acting chairman Mark Uyeda shared on the social media platform X.
The staff’s review includes a significant announcement about funds registered under the Investment Company Act that invest in the bitcoin futures market, along with other related documents such as those covering digital asset “investment contracts” and custody frameworks. These assessments could potentially lead to clearer regulatory guidelines within the digital assets industry.
This initiative from Uyeda ties back to Executive Order 14192, which aims to streamline regulations, and follows advice from a recent recommendation associated with the D.O.G.E. movement led by Elon Musk.
It’s crucial to highlight that this announcement originates from SEC staff rather than Commissioner Hester Peirce, hinting that it might carry less weight. However, it undeniably indicates the SEC’s intent to reduce regulatory pressure on the digital asset industry under the leadership appointed by President Trump.
This effort is part of Uyeda’s broader strategy to reform the agency’s stance on cryptocurrency, which includes abandoning numerous major enforcement actions previously prioritized against businesses in the digital asset sector.
Read more: SEC Staff Clarifies Certain Crypto Stablecoins Are Not Securities