ChainCatcher news, according to Blockworks, with the current chairman Gary Gensler set to depart, the U.S. Securities and Exchange Commission (SEC) retains only Republican commissioners Hester Peirce and Mark Uyeda, awaiting Senate approval of new commissioners nominated by Trump.
Peirce stated at the Blockchain Association policy summit that the SEC's regulatory stance on the crypto industry will undergo a significant shift, with expectations to reduce reliance on enforcement measures. Uyeda pointed out that there is currently a lack of regulatory transparency, especially regarding SAB 121 policy, which requires digital asset custodians to report liabilities and corresponding assets, but has not gone through the public comment process as mandated 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 a collaborative effort between regulators and the industry can achieve the goals.