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The crypto regulation is entering a crucial phase. The SEC, long viewed as an inflexible fortress, is orchestrating a series of four roundtables between April and June. Trading, asset custody, tokenization, and DeFi: these key themes outline an unprecedented roadmap. Behind this initiative, a strategic shift is emerging, marked by the erosion of the Gensler doctrine. Decoding.


From a showdown to a tactical dialogue
During the Trump era, Gary Gensler, then Chairman of the SEC, had elevated crypto to public enemy status. Rejections of ETFs, barrage of lawsuits against Binance or Coinbase… A cold war.
But since January, the agency has undergone a transformation. Mark Uyeda, interim chairman, is quietly burying controversial rule-making projects.
Symbolic example: the abandonment of stringent asset custody standards, deemed stifling for investment advisors.
This shift is not coincidental. The Crypto Task Force, launched in January, embodies this new philosophy: to build rather than constrain.
The first roundtable on March 21 set the stage by questioning the very definition of security. A foundational debate, far from past anathemas. Hester Peirce, a pro-crypto commissioner, summarizes the spirit: listen to experts to shape suitable rules.
Yet, caution is warranted. While the SEC softens its tone, it does not capitulate. The agency maintains heightened vigilance over stablecoins and unregistered platforms.
The withdrawal of Bitnomial from its lawsuit against the SEC at the end of March serves as a reminder that the regulator keeps its muscles flexed. A delicate balance between openness and control.
Four initiatives to reinvent the crypto ecosystem
Let’s move on to the roundtables. Each selected theme reflects burning issues. On April 11, trading will kick off.
At the heart of the discussions: how to adapt transparency and liquidity rules without stifling innovation? The lessons from the FTX crash loom: securing markets while preserving their agility.
On April 25, asset custody will take over. A thorny subject, as breaches (hacks, fraud) fuel institutional distrust. Is the SEC looking to standardize practices? Possible. But crypto players will likely defend hybrid models that combine security and accessibility.
Tokenization and DeFi will wrap up the discussions. On May 12, the tokenization of real assets could seal the marriage between traditional finance and blockchain. Real estate, bonds… The opportunities are colossal, but the legal risks are too.
Finally, on June 6, DeFi will confront its regulatory destiny. How to oversee protocols without a central entity? A conundrum that could result in a bespoke framework.
As the SEC holds multiple roundtables to reshape the future of crypto regulation, Ripple takes a step back by dropping its counter-appeal against the regulator. In return, the company recovers 75 million dollars, thus putting an end to an emblematic legal battle.
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Fascinated by Bitcoin since 2017, Evariste has continuously researched the subject. While his initial interest was in trading, he now actively seeks to understand all advances centered on cryptocurrencies. As an editor, he strives to consistently deliver high-quality work that reflects the state of the sector as a whole.
DISCLAIMER
The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.