Since Gensler’s departure, the SEC has taken a noticeably friendlier stance toward crypto.
One such policy includes adding crypto firms to the regulation of alternative trading systems (ATSs). The SEC Chairman Mark Uyeda recently revealed that, following careful observation, the SEC was neglecting that part of the proposal. Uyeda cited negative public sentiment on the inclusion of crypto firms as a major factor.
He remarked, “In my view, it was a mistake for the commission to link together regulation of the Treasury markets with a heavy-handed attempt to tamp down the crypto market.”
Under former Chairman Gary Gensler, the agency pursued an aggressive crackdown on the industry, launching over 100 enforcement actions between 2021 and his resignation on Jan. 20.
Since Gensler’s departure, the SEC has taken a noticeably friendlier stance toward crypto. Several firms previously facing legal action have seen their cases dismissed, including Gemini, and Kraken.
At the same time, the SEC has introduced a new crypto task force focused on creating a clear regulatory framework for digital assets. The initiative is being led by Commissioner Hester Peirce, known for her pro-crypto views.
Crypto exchange Coinbase is reportedly in advanced talks over the acquisition of Deribit, a derivatives exchange. As per reports, the deal would strengthen Coinbase’s presence in the derivatives market, particularly in Bitcoin and Ether options trading, where Deribit is the largest platform.
If the acquisition goes through, Coinbase would need to secure regulatory approval in Dubai, where Deribit is licensed. Sources suggest the deal could value Deribit between $4 billion and $5 billion.
The information discussed by Altcoin Buzz is not financial advice. This is for educational, entertainment and informational purposes only. Any information or strategies are thoughts and opinions relevant to accepted levels of risk tolerance of the writer/reviewers, and their risk tolerance may be different from yours.
We are not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided. Bitcoin and other cryptocurrencies are high-risk investments, so please do your due diligence.
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ETH+2 moreThis is it – the moment we’ve been waiting for. The SEC will drop its appeal – a resounding victory for Ripple, for crypto, every way you look at it. The future is bright. Let's build.
