A U.S. Securities and Exchange Commission (SEC) commissioner has voiced concerns about the agency's current direction regarding cryptocurrency regulation.
In a recent interview with Fox Business, Commissioner Mark Uyeda expressed that Chair Gary Gensler significantly influences most of the SEC staff, leading to a strict regulatory environment for digital assets.
Uyeda humorously noted the disparity in control, stating, “With 5,000 employees at the SEC, he controls 4,995, while I manage five.”
Uyeda urged the SEC to establish clear guidelines for cryptocurrency regulation promptly.
He refrained from commenting on Gensler’s personal motivations but emphasized that, based on his 18 years of experience with the agency, the current approach seems misguided. He believes that the SEC needs to provide distinct guidance on what qualifies as securities under the law.
According to Uyeda, without a clear understanding of what is included or excluded from securities laws, productive discussions cannot take place. He advocates for a thoughtful consideration of how brokers should manage these securities within the SEC’s jurisdiction.
Kazakhstan is taking a major step toward integrating digital assets into its national financial strategy, with plans to establish a state-managed crypto-reserve.
Bitvavo, Europe’s largest euro-denominated spot crypto exchange, has officially received a MiCA license from the Dutch Authority for the Financial Markets (AFM), allowing the firm to operate across all 27 European Union member states.
In just two months, crypto tax platform CoinLedger observed a staggering 700% surge in the number of U.S. users receiving IRS warning letters, signaling a sharp escalation in federal tax enforcement targeting digital asset holders.
Ripple CEO Brad Garlinghouse announced Friday that the company is officially dropping its cross-appeal in its long-running legal battle with the U.S. Securities and Exchange Commission (SEC), signaling a final move toward ending the years-long case.