{"id":18791,"date":"2025-03-24T14:16:45","date_gmt":"2025-03-24T14:16:45","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=18791"},"modified":"2025-03-24T14:16:45","modified_gmt":"2025-03-24T14:16:45","slug":"mark-uyeda-says-policymakers-regulators-are-still-grappling-with-critical-questions-around-crypto","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=18791","title":{"rendered":"Mark Uyeda Says Policymakers, Regulators Are Still Grappling With Critical Questions Around Crypto"},"content":{"rendered":"<div>\n<p><span style=\"font-weight: 400\">Acting US Securities and Exchange Commission (SEC) Chairman Mark T Uyeda has rejected the enforcement-first approach to cryptocurrency regulation.<\/span><\/p>\n<p><span style=\"font-weight: 400\">\u201cThis approach of using notice-and-comment rulemaking or explaining the Commission\u2019s thought process through releases\u2014rather than through enforcement actions\u2014should have been considered for classifying crypto assets under the federal securities laws,\u201d <a href=\"https:\/\/www.sec.gov\/newsroom\/speeches-statements\/uyeda-remarks-crypto-roundtable-032125\" target=\"_blank\" rel=\"nofollow\">said<\/a> Uyeda on 21 March 2025 during the crypto roundtable.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">Uyeda pointed out that it has been seventeen years since Satoshi Nakamoto made the Bitcoin whitepaper. However, market participants, lawyers, academics, policymakers, and regulators are still grappling with critical questions related to the status of these novel crypto assets under federal securities laws.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">\u201cThis disagreement is most pronounced when it comes to the application of the investment contract test established by the Supreme Court in its 1946 opinion in <\/span><i><span style=\"font-weight: 400\">SEC v. W.J. Howey Co.<\/span><\/i><span style=\"font-weight: 400\"> (known as the \u201c<\/span><i><span style=\"font-weight: 400\">Howey<\/span><\/i><span style=\"font-weight: 400\"> test\u201d) to crypto assets,\u201d said Uyeda.<\/span><\/p>\n<p>He pointed out the lack of uniformity in Howey test application.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\"><img decoding=\"async\" src=\"https:\/\/s.w.org\/images\/core\/emoji\/15.0.3\/72x72\/1f4a1.png\" alt=\"\ud83d\udca1\" class=\"wp-smiley\" style=\"height: 1em; max-height: 1em;\">Key Takeaways from the SEC\u2019s First Crypto Roundtable:<\/p>\n<p><img decoding=\"async\" src=\"https:\/\/s.w.org\/images\/core\/emoji\/15.0.3\/72x72\/1f539.png\" alt=\"\ud83d\udd39\" class=\"wp-smiley\" style=\"height: 1em; max-height: 1em;\"> Regulatory Clarity in Focus \u2013 SEC aims to refine digital asset oversight.<br \/><img decoding=\"async\" src=\"https:\/\/s.w.org\/images\/core\/emoji\/15.0.3\/72x72\/1f539.png\" alt=\"\ud83d\udd39\" class=\"wp-smiley\" style=\"height: 1em; max-height: 1em;\"> Hester Peirce Pushes for Flexibility \u2013 Calls for a workable crypto framework.<br \/><img decoding=\"async\" src=\"https:\/\/s.w.org\/images\/core\/emoji\/15.0.3\/72x72\/1f539.png\" alt=\"\ud83d\udd39\" class=\"wp-smiley\" style=\"height: 1em; max-height: 1em;\"> Mark Uyeda on Policy Gaps \u2013 Says SEC should have clarified\u2026 <a href=\"https:\/\/t.co\/LmbJzQCeKM\" target=\"_blank\" rel=\"nofollow\">pic.twitter.com\/LmbJzQCeKM<\/a><\/p>\n<p>\u2014 CryptoPotato Official (@Crypto_Potato) <a href=\"https:\/\/twitter.com\/Crypto_Potato\/status\/1903366886345130306?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"nofollow\">March 22, 2025<\/a><\/p>\n<\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p><strong><span data-preserver-spaces=\"true\">Explore: <\/span><a class=\"editor-rtfLink\" href=\"https:\/\/99bitcoins.com\/cryptocurrency\/new-cryptocurrency\/\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">Best New Cryptocurrencies to Invest in 2025<\/span><\/a><\/strong><\/p>\n<h2><strong>Hester Peirce Led Crypto Roundtable\u00a0<\/strong><\/h2>\n<p>\u201cWhen judicial opinions have created uncertainty for market participants in the past, the Commission and its staff have stepped in to provide guidance,\u201d Uyeda pointed out.<\/p>\n<p><span style=\"font-weight: 400\">Uyeda\u2019s comments mark a significant shift from the SEC\u2019s previous stance under Gary Gensler.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">Furthermore, the roundtable, organized by the Crypto Task Force, addressed long-standing regulatory gaps. <\/span><\/p>\n<p><span style=\"font-weight: 400\">SEC Commissioner Hester Peirce, leading the roundtable, pushed a flexible framework, while the Spring Sprint Toward Crypto Clarity series focused on distinguishing securities from non-securities.<\/span><\/p>\n<p>\u201cSpring signifies new beginnings and we have a new beginning here, a restart of the commission\u2019s approach to crypto regulation,\u201d said Peirce.<\/p>\n<p><strong>Explore: <a href=\"https:\/\/99bitcoins.com\/news\/sec-crypto-roundtable-unveiled-the-game-changing-rules-you-need-to-know\/\">SEC Crypto Roundtable Unveiled: The Game Changing Rules You Need to Know<\/a><\/strong><\/p>\n<h2 id=\"will-biden-era-crypto-asset-custody-proposal-be-scrapped\"><strong>Uyeda Hints At SEC Scrapping Biden-Era Crypto Asset Custody Proposal<\/strong><\/h2>\n<p>The SEC is considering abandoning a controversial proposal from the Biden administration that would have significantly impacted how financial firms safeguard crypto assets for their clients.<\/p>\n<p>In February 2023, Gensler proposed expanding the existing custody rules to explicitly include crypto assets. This proposal would have required qualified custodians\u2014typically banks, broker-dealers, and certain trust companies\u2014to maintain crypto assets on behalf of investment advisers.<\/p>\n<p>Uyeda, speaking at a securities conference in Florida, indicated that the commission is now considering scrapping the proposal entirely.\u00a0According to a\u00a0<a href=\"https:\/\/www.reuters.com\/world\/us\/sec-may-scrap-biden-era-crypto-asset-custody-proposal-acting-chief-says-2025-03-17\/\" target=\"_blank\" rel=\"nofollow noopener nofollow\">Reuters report<\/a>\u00a0dated 17 March 2025, Uyeda said the SEC \u201cneeds to prioritize effective and cost-efficient regulations that respect the limits of our statutory authority,\u201d<\/p>\n<p><strong><span data-preserver-spaces=\"true\">Explore: <\/span><a class=\"editor-rtfLink\" href=\"https:\/\/99bitcoins.com\/analysis\/crypto-forecast-best-crypto\/\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">10 Coins with High Returns: Crypto Forecast 2025<\/span><\/a><\/strong><\/p>\n<h2 id=\"trumps-choice-of-sec-chair-nominee-paul-atkins-to-face-panel-next-week\"><strong>Trump\u2019s Choice Of SEC Chair Nominee, Paul Atkins, To Face Panel On 27 March 2025\u00a0<\/strong><\/h2>\n<p>On 27 March 2025, SEC Chair nominee Paul Atkins and Trump\u2019s top choice for the position, will be facing the Senate Banking Committee to testify. Atkins, who is also a former commission of the SEC, will advance if the votes in the Senate are in his favour.<\/p>\n<p><span data-preserver-spaces=\"true\">Notably, Atkins served as an SEC commissioner from 2002 to 2008. His background aligns closely with the cryptocurrency industry.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">If confirmed, Atkins\u2019 appointment could represent a seismic shift in the SEC\u2019s regulatory stance toward cryptocurrency.<\/span><\/p>\n<p><span style=\"font-weight: 400\">    <\/p>\n<div class=\"nnbtc-key-takeaways\">\n<h3 class=\"nnbtc-key-takeaways__title\">Key Takeaways<\/h3>\n<p><span style=\"font-weight: 400\">    <\/p>\n<ul class=\"nnbtc-key-takeaways__list\">\n        <\/ul>\n<p><\/span><\/p>\n<p><span style=\"font-weight: 400\">    <\/p>\n<li class=\"nnbtc-key-takeaways__list-item\">\n         Mark T Uyeda has rejected the enforcement-first approach to cryptocurrency regulation.<\/li>\n<p><\/span><\/p>\n<p><span style=\"font-weight: 400\"><br \/>\n    <\/span><\/p>\n<p><span style=\"font-weight: 400\">    <\/p>\n<li class=\"nnbtc-key-takeaways__list-item\">\n         He said, \u201cThis approach of using notice-and-comment rulemaking or explaining the Commission\u2019s thought process through releases\u2014rather than through enforcement actions\u2014should have been considered for classifying crypto assets under the federal securities laws.\u201d\u00a0<\/li>\n<p><\/span><\/p>\n<p><span style=\"font-weight: 400\"><br \/>\n    <\/span><\/p>\n<p><span style=\"font-weight: 400\">    <\/p>\n<li class=\"nnbtc-key-takeaways__list-item\">\n         On 27 March 2025, SEC Chair nominee Paul Atkins and Trump\u2019s top choice for the position, will be facing the Senate Banking Committee to testify.\u00a0<\/li>\n<p><\/span><\/p>\n<p><span style=\"font-weight: 400\"><br \/>\n    <\/span><\/p>\n<p><span style=\"font-weight: 400\"><br \/>\n    <\/span><\/p>\n<p><span style=\"font-weight: 400\">    <\/span><\/p>\n<\/div>\n<p>    <\/span><\/p>\n<p>\u00a0<\/p>\n<p>The post <a href=\"https:\/\/99bitcoins.com\/news\/mark-uyeda-says-policymakers-regulators-are-still-grappling-with-critical-questions-around-crypto\/\">Mark Uyeda Says Policymakers, Regulators Are Still Grappling With Critical Questions Around Crypto<\/a> appeared first on <a href=\"https:\/\/99bitcoins.com\/\">99Bitcoins<\/a>.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Acting US Securities and Exchange Commission (SEC) Chairman Mark T Uyeda has rejected the enforcement-first approach to cryptocurrency regulation. \u201cThis approach of using notice-and-comment rulemaking or explaining the Commission\u2019s thought process through releases\u2014rather than through enforcement actions\u2014should have been considered for classifying crypto assets under the federal securities laws,\u201d said Uyeda on 21 March 2025 [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-18791","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/18791","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=18791"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/18791\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=18791"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=18791"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=18791"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}