Crypto Advocacy Group Asks SEC to Rethink Lawsuits day 1
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The Digital Chamber calls for a review of ongoing crypto-related lawsuits and investigations under the SEC. It urges the SEC to repeal the 2019 Howey test framework and the controversial “Hinman Speech.” The group advocates for clearer crypto regulations and the repeal of burdensome rules like SAB 121 to support innovation. Digital Chamber Urges SEC to Rethink The Digital Chamber, a prominent crypto advocacy group, urges the U.S. Securities. Exchange Commission (SEC) to reconsider its ongoing crypto-related investigations, Wells notices, and lawsuits from the first day of the incoming Trump administration. This call is part of a strategy to repair the SEC’s strained relationship with the crypto industry and foster mutual trust between regulators and digital asset businesses. The group believes that most players in the crypto space are working responsibly. The SEC should recognize this to create a more transparent and supportive regulatory environment. The Digital Chamber’s Token Alliance, has ties to Paul Atkins Trump’s nominee for SEC Chair. Which proposes a fresh approach to regulating the crypto sector. Under its current leadership, it has engaged in legal disputes with industry giants like Binance, Coinbase, and Ripple. By creating friction between the regulator and crypto firms. Key Priorities for the SEC in the First 90 Days The group argues that these ongoing cases should be reviewed and, in some instances, paused. This would give the SEC time to refine its regulatory approach, ensuring it fosters innovation rather than hindering it.In its agenda, the Digital Chamber outlines several key priorities for the SEC during the first 90 days of the new administration. One of the most significant proposals is to halt litigation in cases that do not involve fraud, investor harm, or immediate risk. This would help the SEC reassess its strategy and reduce unnecessary legal burdens on the industry.…
Filed under: News - @ December 19, 2024 6:25 pm