SEC Continues Positive Moves for Cryptocurrencies! “First Concrete Step Taken, Restructuring Has Started!”

Gary Gensler, known for his anti-cryptocurrency stance, resigned from his position and left the SEC on January 20, the day Trump took office.

After Gensler’s departure, the SEC was expected to reduce cryptocurrency enforcement and soften its stance, with interim SEC Chairman Mark Uyeda establishing a task force to loosen regulations.

The SEC’s newly formed crypto task force is expected to bring more clarity to cryptocurrency regulations.

As expectations for the SEC rise, the SEC has decided to downsize its cryptocurrency enforcement unit.

The U.S. Securities and Exchange Commission is taking steps to downsize its special unit for cryptocurrency enforcement actions, The New York Times reported, citing five sources familiar with the matter.

Accordingly, the SEC has decided to downsize a special unit of more than 50 attorneys and staff members responsible for cryptocurrency enforcement.

While it was stated that some lawyers working in the unit in question were reassigned to other departments in the SEC, the change of duties of some key lawyers was seen as an unfair action.

While this was the first concrete step taken by the Trump administration regarding the regulation of cryptocurrencies and digital assets, it was stated in the statement that some of the lawyers in the sanctions unit were reassigned to other departments.

Republican SEC member Hester Peirce recently said that the working group will work to classify different cryptocurrencies and activities, determining which ones qualify as securities.

US President Donald Trump has nominated Paul Atkins, known for his long-standing support for cryptocurrencies, as SEC chairman.

*This is not investment advice.