Hester Peirce and Mark Uyeda, Republican members of the Securities and Exchange Commission (SEC), are reportedly evaluating ongoing enforcement actions against cryptocurrency firms.
They are exploring steps to establish clearer guidelines on when cryptocurrencies are classified as securities, anticipating changes under the incoming Trump administration.
According to sources cited by Reuters, Peirce and Uyeda may begin this regulatory process even before Donald Trump’s SEC chair nominee, Paul Atkins, is officially confirmed. Both commissioners have prior experience working under Atkins, which is expected to facilitate a smooth collaboration as they discuss potential shifts in crypto policy.
Additionally, there are reports that the SEC might pause certain litigation cases, particularly those unrelated to fraud allegations. This potential freeze has garnered attention from industry figures, including crypto entrepreneur Justin Sun, who posted a cryptic “👀” on X, seemingly reacting to the news.
Sun, currently embroiled in an SEC lawsuit, recently acquired a significant stake in Trump-endorsed crypto project World Liberty Financial, where he was subsequently named an advisor. As part of his new role, Sun plans to attend events related to Liberland, the self-proclaimed microstate where he serves as prime minister, during Trump’s inauguration week.
The U.S. Securities and Exchange Commission’s (SEC) crypto task force, led by Commissioner Hester Peirce, is continuing its behind-the-scenes engagement with digital asset firms as the agency weighs new approaches to crypto regulation.
In a major policy shift, the Federal Reserve announced on Thursday that it will no longer require state-chartered member banks to notify the central bank before engaging in crypto-asset activities.
A new report by the Bank for International Settlements has reignited the clash between traditional financial authorities and the crypto world.
Federal Reserve Chair Jerome Powell has hinted that U.S. banks may soon see more flexibility when it comes to handling digital assets—a notable shift from the cautious approach regulators have maintained in recent years.