CoinVoice has learned from Blockworks that as current chairman Gary Gensler is 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, expecting a reduced reliance on enforcement measures. Uyeda pointed out that there is currently a lack of regulatory transparency, particularly with the SAB 121 policy, which requires digital asset custodians to report liabilities and corresponding assets, but has not undergone the public comment process as stipulated by the Administrative Procedure Act.
Despite Congress's attempts to overturn the policy, it was ultimately vetoed by President Biden. Peirce acknowledged that adjusting the policy is not easy, but believes that the joint efforts of regulators and the industry can achieve the goal. [Original link]