U.S. SEC Considers Short-Term Crypto Oversight Framework for Innovation

The U.S. Securities and Exchange Commission (SEC) may implement a temporary oversight framework for the crypto industry, allowing continued innovation while working on long-term regulations. Interim Chairman Mark Uyeda stated that this approach could provide conditional exemptions to facilitate blockchain technology advancements in the U.S.

Key points include:

The SEC is waiting for Congress to finalize a crypto market-structure law.
A comprehensive regulatory framework could take months to develop after the law's passage.
Uyeda emphasized the need for efficient regulation amid ongoing industry evolution.
Commissioner Hester Peirce highlighted the dual nature of crypto platforms handling both regulated and unregulated activities.
Democratic Commissioner Caroline Crenshaw expressed concerns over conflicts of interest inherent in multi-service crypto trading platforms.