SEC Commissioner Mark Uyeda Proposes a Friendly Environment for Cryptocurrency in the United States

Mark Uyeda, a commissioner of the U.S. Securities and Exchange Commission (SEC), has proposed reforms aimed at creating a more friendly environment for cryptocurrency in the United States, especially if he is appointed as SEC Chairman. Uyeda criticized the current strict policies under Gary Gensler, which he describes as a "war against cryptocurrency." He emphasized that there needs to be more clarity on regulations rather than harsh enforcement actions against cryptocurrency projects that are unclear about their legality.

One of the key ideas that Uyeda proposed is to create a testing environment (sandbox) for cryptocurrency projects. This model would promote innovation while requiring cooperation from Congress and the White House to establish a clear legal framework for the industry. Uyeda also suggested that some types of cryptocurrency may not fall under the jurisdiction of the SEC, which opens up the possibility of redefining the role of this agency in the cryptocurrency space.

If these reforms are implemented, they could help reshape U.S. regulations on cryptocurrency, making the country a hub of innovation and development in the digital currency sector. Especially for coins like XRP, ADA...