SEC Acting Chair Mark Uyeda Pushes to Withdraw Proposal for Expanded Regulation of Crypto Exchanges

The regulatory rule previously proposed by the U.S. Securities and Exchange Commission (SEC) aimed to expand the scope of trading venues required to register, to include businesses related to crypto assets, but acting chair Mark Uyeda is pushing to withdraw this measure. He stated that linking the regulation of the treasury market to strict controls on the crypto market is a mistake, and noted that the proposal's expansion of the definition of "exchange" has triggered considerable negative feedback within the crypto industry, thus he has requested an option to abandon that portion of the content. The rule was originally intended to bring certain "communication protocols" under SEC regulation, which could impact various protocols involving crypto assets. (CoinDesk)