SEC looking to abandon effort requiring crypto firms to register as exchanges

Acting SEC chairman Mark Uyeda has asked SEC staff for ways to abandon a rule change that would expand the definition of alternative trading systems to include crypto firms.

A proposed rule change pushing for some crypto firms to register as exchanges could be abandoned under a new directive from the acting chairman of the US Securities and Exchange Commission. 

During a March 10 speech at the Washington Conference of the Institute of International Bankers, acting SEC Chairman Mark Uyeda said he had “asked SEC staff for options on abandoning” part of the proposed changes that would expand regulation of alternative trading systems (ATSs) to include crypto firms.

“In light of the significant negative public comment received on the definition of exchange with respect to crypto, I have asked SEC staff for options on abandoning that part of the proposal,” he said.

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