The American Securities and Exchange (SEC) commission is considering changes in the rules to allow companies to make the token titles more freely, said SEC commissioner, Hester Peirce, in a speech published on May 8.
The regulator “envisages a potential exemption prescription” for companies using blockchain technology to “issue, exchange and set up titles” which would release them from certain registration requirements, Peirce said in speech.
For example, decentralized exchanges (DEX) may no longer register “as a broker, compensation agency or exchange,” said Peirce. The SEC previously brought numerous charges against Dex such as Uniswap for not having registered as the exchange of securities.
Companies should “not have to comply with Inapt regulations, which, in many cases, have been developed long before the existence of technologies that are tested and can be avoided by the attributes of this technology,” said Peirce.
Under such an exemption, companies should always respect the rules designed to prevent market fraud and manipulation, said the commissioner. They may also need to meet certain disclosure and file holding requirements.
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Net policy pivot
The SEC considerably rotated its position on the surveillance of cryptocurrency since US President Donald Trump took office in January.
Under the management of the former SEC president, Gary Gensler, the agency brought an increase in 100 proceedings against cryptographic companies for alleged violations of securities law.
However, under Trump’s candidate, Paul Atkins, who took an oath as president on April 21The agency claimed its competence in a closer segment of cryptocurrencies.
In February, the SEC issued directives indicating that same – if it is clearly identified as purely speculative assets without intrinsic value – not be considered investment contracts under American law.
In April, the regulator said that stablecoins – digital tokens set for the US dollar – of the same only as a way to pay payments.
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