Acting SEC Chair Orders Review of Crypto Asset Warnings and Securities Determination Methods

Uk Jin

Summary

The SEC is reportedly set to review legal matters concerning crypto assets.
Acting SEC Chair Uyeda announced that an executive order has been issued to review the application of securities laws to digital assets.
It was reported that actions related to the determination of the securities nature of crypto assets through the Howey Test are included.

The U.S. Securities and Exchange Commission (SEC) is set to review legal matters concerning crypto assets (cryptocurrencies).

On the 5th (local time), according to the crypto-specialized media The Block, Acting SEC Chair Mark Uyeda ordered a review of issues related to the application of securities laws to crypto asset investments and digital assets through Executive Order 14192.

This action follows recommendations from the Department of Government Efficiency (DOGE).

Specifically, the items under review include ▲ the determination of the securities nature of crypto assets through the Howey Test, ▲ the 2021 investment caution guidelines for the Bitcoin (BTC) futures market, and ▲ the disclosure guidelines related to the bankrupt crypto asset firms in 2022.

Acting Chair Uyeda explained, "The purpose of this review is to identify staff guidance that needs to be modified or withdrawn according to the agency's priorities."