Summary
- The U.S. Securities and Exchange Commission (SEC) has reportedly decided to officially withdraw major virtual asset regulations introduced during the tenure of former Chairman Gensler.
- It was announced that the digital asset custody regulatory expansion, the DeFi (Decentralized Finance) securities law amendment, and the strengthened ESG reporting requirements are among those being withdrawn.
- This decision reflects the practical regulatory demands of the crypto industry and a shift in the SEC’s stance, aiming to create a balanced digital asset regulatory environment.
Reports state that the U.S. Securities and Exchange Commission (SEC) has decided to officially withdraw key virtual asset (cryptocurrency) regulations introduced during the tenure of former Chairman Gary Gensler.
On the 13th (local time), crypto-specialized media outlet Coinpedia reported that "the SEC will withdraw the controversial digital asset custody regulatory expansion, the amendment to Securities Law 3b-16 which sought to include DeFi (Decentralized Finance) within the scope of securities exchanges, and the strengthened ESG reporting requirements."
The outlet added, “This decision appears to reflect practical regulatory demands from the crypto industry and a shift in stance within the regulators,” and that “the SEC will aim for a more balanced digital asset regulatory environment through this move.”
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.
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