Odaily Planet Daily News FOX Business reporter Eleanor Terrett published an article revealing that the U.S. Securities and Exchange Commission (SEC), under the leadership of Acting Chairman Mark Uyeda, is considering abandoning part of the 2022 Gary Gensler-era proposal, which was originally intended to expand the definition of alternative trading systems (ATS) to include certain cryptocurrency companies.
In Uyeda's speech today at the International Bankers Association's annual Washington conference, he said: "... In view of the strong negative public comments on the inclusion of cryptocurrencies in the definition of trading platforms, I have asked SEC staff to provide the option of abandoning this part of the proposal."
He also asked staff to re-engage with the U.S. Treasury Department (USTreasury), the Federal Reserve System (Federalreserve) and market participants to discuss where the Commission should promote regulatory changes in alternative trading systems.