One of the top officials at the U.S. Securities and Exchange Commission (SEC) thinks the regulator needs to change course in terms of the way it approaches crypto.
SEC Commissioner Mark Uyeda tells Fox Business that hasn’t laid out adequate rules to spur innovation in the sector.
“We have not provided the rules of the road for crypto, other than to declare that nearly all are securities, nor have we provided a practical pathway to comply with our rules. Instead, we have wasted time and money on crypto enforcement actions that provide limited guidance at best. At the same time, we are using enforcement resources on crypto, the commission is falling short in protecting seniors from relationship and affinity scams, which can be devastating when their retirement investments are stolen…
Presuming that everyone in the market is a potential scammer and fraudster unless proven innocent is the wrong course of action — and not the American way.”
President Joe Biden appointed Uyeda, a Republican, to his role as commissioner in 2022. He and fellow Republican Commissioner Hester Peirce have often criticized SEC Chair Gary Gensler for his active approach toward the crypto sector. Both have also dissented against multiple SEC enforcement actions.
Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Check Price Action
Follow us on X, Facebook and Telegram
Surf The Daily Hodl Mix
 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Generated Image: Midjourney
The post SEC Needs To End War on Crypto and Return to Being a Constructive Regulator, Says Commissioner: Report appeared first on The Daily Hodl.
One of the top officials at the U.S. Securities and Exchange Commission (SEC) thinks the regulator needs to change course in terms of the way it approaches crypto. SEC Commissioner Mark Uyeda tells Fox Business that hasn’t laid out adequate rules to spur innovation in the sector. “We have not provided the rules of the
The post SEC Needs To End War on Crypto and Return to Being a Constructive Regulator, Says Commissioner: Report appeared first on The Daily Hodl. Regulators, Crypto, News, SEC, U.S. Securities and Exchange Commission