With the US President-elect set to be inaugurated in just five days, big things are expected for his incoming administration. Indeed, one of the biggest impacts should come within the digital asset sector. According to a Reuters report, Donald Trump’s US Securities and Exchange Commission (SEC) is set to revamp crypto policy while potentially pushing enforcement.
The report notes that the agency is set to embrace a “crypto overhaul” under Trump’s leadership. Additionally, the report notes that top Republican officials at the SEC are preparing for those changes to come “as early as next week,” after the 47th president’s return to the White House.
JUST IN: 🇺🇸 President-elect Trump’s SEC to revamp crypto policy and may pause enforcement, Reuters reports.
— Watcher.Guru (@WatcherGuru) January 15, 2025
Also Read: US Court Demands SEC Explain Denial of Crypto Regulations
Trump to Jump Start Crypto Overhaul as Enforcement Could Be Paused
The US presidential election in November of last year was always poised to be a historic race. In the end, it saw Republican nominee Donald Trump emerge victorious. Now, he is set to lead his second, non-consecutive term as commander in chief. One of the biggest industries affected by his return was always going to the digital asset sector.
During his campaign for reflection, the returning president emerged as the first true pro-crypto candidate. It appears as though he isn’t wasting any time following through on that. According to a recent report, US President-elect Donald Trump’s SEC is set to revamp crypto policy and potentially halt enforcement action.
Also Read: Donald Trump to Issue Executive Crypto Policy Orders on First Day in Office
The report notes that commissioners Hester Peirce and Mark Uyeda are discussing potential overhauls. Specifically, they’re targeting “rules clarifying when the agency considers a cryptocurrency to be a security.” Moreover, they are actively reviewing pending legal cases. Additionally, it notes that SEC Chair Paul Adkins is expected to “end a crypto crackdown,” led by former Chair Gary Gensler.
Gensler had a combative relationship with the industry over the last several years. He had often relied on regulation through enforcement. As a result, a host of crypto companies engaged in lengthy legal battles with the agency. However, Gensler is set to step down the same day Trump is inaugurated. Moreover, his hash regulatory standards are likely to leave with him.
