report<\/a>.<\/p>\nUyeda asserted, “The Commission\u2019s aggressive stance on crypto must cease, especially enforcement actions spurred just by registration failures without evidence of fraud or harm. President Trump and the electorate have made their stance clear. Starting in 2025, the SEC must execute this mandate,\u201d he told FOX Business.<\/p>\n
His position echoes Trump’s campaign commitment to stop the rigorous enforcement initiated by current SEC Chair Gary Gensler. Under Gensler’s leadership, the SEC has undertaken more than a hundred enforcement actions against various firms over the past three years, addressing both fraudulent practices and unregistered securities trading.<\/p>\n
Some of these enforcement actions have centered around blatant fraud and money laundering, exemplified by charges against Sam Bankman-Fried of the defunct FTX exchange. However, other actions have focused on well-established entities like Coinbase, Ripple, Kraken, ConsenSys, and Cumberland DRW, accused of selling unregistered securities.<\/p>\n
Gensler believes that all tokens, except Bitcoin, should be classified as securities subject to SEC oversight\u2014a viewpoint that has encountered substantial pushback from the industry, legal experts, and lawmakers. Gensler, whose tenure lasts until 2026, has suggested he will resign with the new administration.<\/p>\n
Hester Peirce, another Republican SEC Commissioner known for her pro-crypto stance and often referred to as “Crypto Mom”, was initially viewed as a strong candidate for SEC chair. However, sources indicate she does not wish to pursue that role. Instead, Peirce is reportedly interested in heading an internal \u201ccrypto task force\u201d aimed at reassessing the SEC\u2019s strategy towards digital assets and encouraging conversations with industry representatives.<\/p>\n
Peirce has advocated for \u201csafe harbor\u201d provisions, enabling crypto companies to function under regulatory guidance without facing immediate enforcement risks. A representative for Peirce declined to elaborate on her future plans.<\/p>\n
Uyeda has also been critical of the SEC’s handling of cryptocurrency regulation, describing it as a \u201cdisaster for the entire industry\u201d during a FOX Business segment. \u201cWe have been imposing policy through enforcement without providing any guidance,\u201d he remarked.<\/p>\n
As of now, the total market capitalization of cryptocurrency is approximately $2.512 trillion.<\/p>\n
<\/p>\n","protected":false},"excerpt":{"rendered":"
As President-Elect Donald Trump gets ready to take office, the cryptocurrency sector is closely monitoring his potential choices for crucial financial regulatory roles. Anticipating an end to the “war on crypto” that began under the Biden administration, Trump is poised to change leadership at the SEC and other financial institutions significantly. Is Dan Gallagher the […]<\/p>\n","protected":false},"author":14,"featured_media":22223,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"slim_seo":{"title":"Trump's Strategy for Peace: Key Players in the Crypto Conflict - Bitrabo","description":"As President-Elect Donald Trump gets ready to take office, the cryptocurrency sector is closely monitoring his potential choices for crucial financial regulator"},"footnotes":""},"categories":[316],"tags":[2050,504,682,10052,10051,2133,2377,1018],"class_list":["post-22222","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-news","tag-bring","tag-crypto","tag-heres","tag-peace","tag-rely","tag-resolution","tag-trump","tag-war"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/posts\/22222","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/users\/14"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/comments?post=22222"}],"version-history":[{"count":0,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/posts\/22222\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/media\/22223"}],"wp:attachment":[{"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/media?parent=22222"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/categories?post=22222"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/tags?post=22222"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}