Will Crypto Firms Face Fewer Crackdowns Now?
The post Will Crypto Firms Face Fewer Crackdowns Now? appeared on BitcoinEthereumNews.com.
In what could be the most eventful week in crypto history, we’ve seen many ups and downs, policy changes, and even a trade war brewing. Among the biggest headlines, the U.S. SEC has introduced a major shift in its approach to regulation, and it could change everything for the crypto industry. With new rules requiring staff to seek approval from top officials before launching investigations, this change comes after Gary Gensler’s departure and Mark Uyeda stepping in as Acting Chair. So, what does this mean for crypto companies and investors, and how might it affect ongoing cases, like the Ripple vs. SEC case? Let’s take a closer look. Changes to SEC Enforcement Process Under the old system, SEC enforcement staff could start investigations on their own. But with the new rules, they must now seek approval from politically appointed commissioners before issuing subpoenas or compelling testimony. This change comes after Gensler’s departure, who had led an aggressive crackdown on crypto firms accused of violating securities laws. With Uyeda, Hester Peirce, and Caroline Crenshaw now leading the SEC, it’s possible that the agency’s approach to crypto enforcement will shift. Step Toward Fairness or Delay in Action? NFT analyst Tyler Warner believes this new rule is necessary to prevent “rogue attacks.” He argues that it ensures investigations are based on solid evidence and not personal or political motivations. Huge news out of the SEC Enforcement staff can no longer launch formal investigations without approval from politically appointed leadership. Less autonomy in staff, more control up top pic.twitter.com/amP6jQ8Unb — TylerD 🧙♂️ (@Tyler_Did_It) February 3, 2025 However, retired SEC attorney Marc Fagel disagrees. He warns that this new approval process could slow down enforcement, allowing fraudsters more time to take advantage of regulatory delays. interesting move by the sec. needing top approval for investigations…
Filed under: News - @ February 4, 2025 3:27 pm