CoinVoice has learned from Blockworks that as current Chairman Gary Gensler is set to depart, the U.S. Securities and Exchange Commission (SEC) is left with only the Republican commissioners Hester Peirce and Mark Uyeda, awaiting Senate approval of new commissioners nominated by Trump.
At the Blockchain Association policy summit, Peirce stated that the SEC's regulatory stance on the cryptocurrency industry will undergo a significant shift, and it is expected to reduce reliance on enforcement measures. Uyeda pointed out that there is currently a lack of regulatory transparency, especially regarding the SAB 121 policy, which requires digital asset custodians to report liabilities and corresponding assets but has not gone through the public comment process as required by the Administrative Procedure Act.
Although Congress attempted to overturn the policy, it was ultimately vetoed by President Biden. Peirce acknowledged that policy adjustments are not easy, but believes that the joint efforts of regulators and the industry can achieve the goals. [Original link]