Crypto Regulation: SEC Backs Down Plan

SEC Abandons Plan to Classify Crypto Firms as Trading Systems

• The SEC is abandoning a proposed rule for crypto firms.
• The rule required registration as alternative trading systems (ATS).
• Acting Chair Mark Uyeda announced the decision.
• This marks a shift from the SEC’s 2022 regulatory efforts.

The SEC, led by acting Chair Mark Uyeda, has decided not to pursue a proposal that would have mandated certain cryptocurrency firms to register as alternative trading systems, signaling a change from its previous regulatory approach in 2022.