SEC Scrutiny and Crypto Turbulence: A Look at Recent Regulatory Developments
by aria-crypto.com
March 18, 2025 at 05:55
SEC Scrutiny and Crypto Turbulence: A Look at Recent Regulatory Developments
In a critical commentary, Charles Hoskinson, co-founder of the Cardano blockchain, lambasted the SEC for its severe regulatory tactics towards the crypto industry, even going so far as to say the regulator would have celebrated the failure of crypto projects if it had the chance. Hoskinson expressed relief at the supposed end of the U.S. "war on digital assets," highlighting the significant financial and reputational damage incurred from the SEC's numerous lawsuits and investigations. The SEC, under the current scrutiny, reportedly faces resistance from the legal community, with some firms hesitant to interact with SEC staff involved in crypto regulation.
Meanwhile, significant policy shifts are occurring under the acting SEC Chair, Mark Uyeda, who is reconsidering rules imposed during the Biden administration, particularly concerning crypto custody standards. Uyeda has voiced concerns about the broad implications of the 2023 rule requiring stringent custody requirements for investment advisers, proposing to either alter or completely eliminate this rule. This potential backtrack signals a shift towards more flexible, industry-favorable regulations under Uyeda's short tenure, informed by industry backlash and the input of Trump-appointed replacements awaiting confirmation.
Such regulatory vacillations reflect a broader uncertainty and evolving stance within the U.S. governmental landscape regarding cryptocurrency regulation, with implications for investor and industry practices moving forward. As the SEC navigates these complex issues, the crypto industry watches closely, wary of the regulatory pendulum that could swing with political changes.
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