Is crypto a security? The SEC views many cryptocurrencies as securities, based on the Howey Test, but decentralized assets like Bitcoin and Ethereum are typically exempt. The debate continues, with regulatory impacts looming. #cryptocurrency #securities #HoweyTest #SEC

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Next year, the U.S. Securities and Exchange Commission (SEC) may reconsider its approach to regulating cryptocurrencies. The expected changes in the agency's management and regulatory strategy may signal a softening of the SEC's stance on the crypto industry. These changes reflect the desire for greater dialogue and transparency in the management of the rapidly developing digital asset market.
Changes in the composition of the SEC: the beginning of a new era
With the departure of SEC Chairman Gary Gensler and pending the approval of new candidates by the Senate, only two commission members will remain in the agency — Esther Pierce and Mark Ueda, both representing the Republican Party. This temporary period may be a turning point in SEC policy. Pierce, who has established herself as a proponent of a progressive approach to regulating cryptocurrencies, noted that the agency has a wide range of tools, but often relies on coercive measures.
Speaking at the Blockchain Association summit, she said that a change in the composition of the commission could open the door to a review of the SEC's regulatory methods and business strategy. Pierce pointed out the need for a more constructive approach that takes into account the complexity and diversity of the crypto sector.
Transparency and public participation: key challenges
Mark Ujeda, in turn, emphasized the importance of transparency in the process of developing regulatory policy. He noted that many discussions within the agency are held behind closed doors, which raises concerns about accountability.
The SAB 121 policy, which obliges digital asset custodians to reflect liabilities and related assets in their balance sheets, has been particularly criticized. This measure was introduced without prior discussion with the public, which contradicts the principles of the Law on Administrative Procedures. Despite the fact that Congress voted to repeal SAB 121, President Joe Biden vetoed the policy, leaving it in force.
Ujeda and Pierce stressed that public involvement in the development of regulations should be a priority. This will not only take into account the interests of market participants, but also increase confidence in the work of the SEC.
The need for cooperation: a look into the future
Esther Pierce also addressed the cryptocurrency industry, stating that successful progress will require efforts from both sides. She stressed that the current state of relations between regulators and the crypto sector leaves much to be desired, but cooperation is possible if there is a common goal.
"Moving forward will require the efforts of both sides, but it is achievable," Pierce said.
This comment reflects the SEC's desire to work towards a more stable and predictable regulatory environment that meets the interests of both government agencies and crypto market participants.
A Potential Turning Point for the SEC and the Crypto Industry
The new composition of the SEC is likely to focus on revising the current rules and developing a more flexible regulatory approach. The focus will be on transparency, public participation and collaboration with the industry. These changes can not only mitigate the agency's previously harsh approach, but also lay the foundation for the sustainable development of the cryptocurrency market.
For the crypto sector, these changes open up opportunities for more active interaction with regulators. By focusing on transparency and dialogue, both sides will be able to create a solid foundation for the development of the digital economy in the United States.
#cryptocurreny #SEC

1. Cryptocurrency-Friendly Leadership: A New Regulatory Approach
Under Paul Atkins' leadership, known for his support of cryptocurrencies and his pro-innovation approach, a more friendly regulation for digital assets is expected.
What does this mean?

This could translate to

fewer restrictions
and a more
flexible
regulatory environment for cryptocurrency companies. Commissioners like

Hester Peirce

and

Mark Uyeda
, also known for their pro-cryptocurrency stance, reinforce this direction.

Former US SEC legal counsel: SEC lawsuits against crypto companies will decrease next year.

According to a report by BlockBeats on December 26, Teresa Goody Guillén, a former litigation counsel for the U.S. Securities and Exchange Commission and partner at BakerHostetler, stated that the number of cases brought by the U.S. Securities and Exchange Commission against crypto companies is expected to decrease next year. The SEC will only be able to bring lawsuits in cases involving securities, and if the litigation does not involve securities, violators will be referred to the Department of Justice and other regulators, such as the U.S. Commodity Futures Trading Commission.

XRP lawyer John Deaton and Gemini co-founder Tyler Winklevoss have urged crypto firms to stop doing business with law firm Milbank following the hiring of anti-crypto former SEC director Gurbir Grewal. There’s a growing chorus within the crypto industry against Milbank for its controversial hiring of Grewal.
Ex SEC Official Gurbir Grewal Lacks Integrity, Says XRP Lawyer
Prominent XRP lawyer John Deaton has called on the cryptocurrency industry to cut ties with the law firm Milbank. His recent criticism comes as former SEC official Gurbir Grewal, known for his anti-crypto activities, especially in the Ripple lawsuit, will be joining the law firm.
In a post on X platform, Deaton accused Grewal of intentionally harming the industry and lying before Congress when questioned by Representative Warren Davidson, adding, “He lacks integrity. Period”. Deaton’s commentary came in response to Tyler Winklevoss, the co-founder of crypto exchange Gemini, who stated that such hiring of anti-crypto officials should stop soon. In a post on X platform Tyler wrote:

“This has gotta stop. Abusing government power to attack an industry then landing at a white-shoe law firm where you pitch clients at cocktail receptions w/ jetliner views saying, “I can protect you from the guys like me in government, who are doing to you what I did to crypto.””
This is not the first time that there’s growing dissent against former SEC official Gurbir Grewal. Earlier this month, Coinbase CEO Brian Armstrong issued a stark warning saying that his firm would reject working with other players who are hiring anti-crypto officials.
Armstrong announced that the crypto exchange has decided to immediately end any professional relationships with legal partners who employ such individuals. “It’s an ethics violation in my book to try and unlawfully kill an industry while refusing to publish clear rules,” he said.
Anti-Crypto Legacy of Grewal
As Gurbir Grewal joins Milbank as a partner, let’s understand why XRP lawyer John Deaton has been so outrightly opposing the former SEC official. Before announcing his resignation as the US SEC Director earlier in October, Gurbir Grewal led the agency’s Enforcement Division with a strict approach.
While overseeing more than 100 enforcement actions, Grewal targeted many crypto firms. Under his leadership, the SEC pursued major industry players such as Coinbase, Ripple, and Binance, alleging violations of federal securities laws.
One of the most notable outcomes was the Binance lawsuit, which resulted in a record $4.3 billion fine and the resignation of CEO Changpeng Zhao. Meanwhile, legal battles with Coinbase and Ripple remain ongoing, underscoring the SEC’s aggressive stance during Grewal’s leadership.

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The crypto gaming market and #NFT witnessed a lively week with a series of notable events, from token launches, in-game events, to promising new projects. Here are the most notable highlights from the past week:

The New Token Launch Craze

A series of gaming platforms on $ETH held token generation events (TGE) this week:

• Nifty Island launched token ISLAND with a market cap of 15 million USD.