Uyeda, a Republican who has served on the SEC since 2022, suggested in a Thursday interview with Fox Business a potential pause on enforcement actions against crypto firms solely for registration failures. He argued the SEC should instead focus on establishing clearer regulatory guidelines. The commissioner stressed:
The Commission’s war on crypto must end, including crypto enforcement actions solely based on a failure to register with no allegation of fraud or harm.
“President Trump and the American electorate have sent a clear message. Starting in 2025, the SEC’s role is to carry out that mandate,” he emphasized.
Uyeda’s stance reflects Trump’s campaign promise to curb enforcement efforts led by current SEC Chair Gary Gensler, who has enacted over 100 regulatory actions against crypto companies. While several cases involved serious misconduct, such as fraud in cases tied to figures like Sam Bankman-Fried of FTX, other actions have targeted firms like Coinbase, Ripple, and Kraken over alleged unregistered securities sales.
Gensler’s view that “all crypto tokens aside from bitcoin and ether are securities under the SEC’s jurisdiction” has sparked significant opposition. Both Uyeda and fellow SEC Commissioner Hester Peirce advocate for a framework that emphasizes guidance over enforcement, with Peirce specifically promoting “safe harbors” for emerging blockchain and AI ventures, allowing them to operate under SEC observation without immediate penalties.
Trump has pledged to fire Gensler on his first day in office. Known as “Crypto Mom” for her supportive stance on digital assets, Peirce reportedly favors leading an internal SEC “crypto task force” rather than becoming chair. Sources indicate this task force would focus on re-evaluating the agency’s approach to crypto regulation and establishing open communication with industry participants to promote regulatory clarity.
Source:news.bitcoin.com
