The management change in the US Securities and Stock Exchange Commission (SEC) brought a radical differentiation in institutional priorities. During the new leadership, the institution is expected to reduce crypto money -oriented controls and turn to traditional securities fraud. According to Reuters, the SEC plans to terminate crypto currency inspections that have been going on for five years. The institution will now devote its resources to individual and institutional fraud cases.
Crypto Money Controls are thrown back to the background
According to the new strategy, the SEC reduces harsh sanctions on the crypto currency market. The intense crypto currency inspections carried out by the institution in the last five years will be replaced by cases for classical securities fraud. This choice of SEC shows that it turns to a more traditional line in contrast to previous administrations.
Some important issues about crypto currencies are also re -evaluated. These include whether the memecoins are considered as securities and the responsibilities of the companies engaged in Proof-of-Work mining. In the new period, a more flexible approach signal is given to these areas.
In addition, the former “Crypto Assets and Cyber Unit” was closed and replaced by “Crypto Task Force”. This new unit focuses more on communicating with market players. Instead of harsh sanctions, the understanding of problem solving by dialogue is highlighted.
The staff decreased, the focus has changed
SEC’s temporary executive director Sam Waldon said the decline in the number of personnel was effective in the new strategy. Waldon’s statement, “We are not where we want to be in terms of creativity” draws attention to the limitation of resources. This may cause difficulties in the pursuit of cases in the field of crypto money.
Ripple in the past 
$2.44 While cases such as SEC are the agenda of the SEC, the new management is currently following a different way. Paul Atkins’s candidacy process also shows that this change of direction is adopted institutional. It is known that Atkins look more hot on traditional securities regulations.
The application of the Freedom of Freedom of Information (FOIA) by Coinbase is also remarkable. Coinbase demanded the announcement of the financial impact of the strategic decisions of the last five years. This request reveals that more transparency is expected to have SEC’s past applications in crypto currency.
Responsibility Rejection: The information contained in this article does not contain investment advice. Investors should be aware that crypto currencies carry high volatility and thus risk and carry out their operations in line with their own research.
