First 90 Days SEC Policy Overhaul Agenda Under Donald Trump

At a gathering with staffers for SEC Commissioners Hester Peirce and Mark Uyeda, the Digital Chamber of Commerce’s Token Alliance launched an formidable coverage agenda aimed toward overhauling the SEC’s regulatory strategy to digital property.

🚨NEW: At a gathering with staffers for @SECGov commissioners @HesterPeirce and Mark Uyeda this week, the @DigitalChamber’s Token Alliance included denouncing the 2018 #Hinman speech as a Day 1 precedence for the Company Finance division, citing its lack of relevance to the Howey… pic.twitter.com/5RACe4vBNL

— Eleanor Terrett (@EleanorTerrett) December 18, 2024

The proposals, spanning the primary 90 days of Donald Trump’s new administration, highlights quick and sweeping adjustments to reset the company’s relationship with the cryptocurrency sector.

Day 1 Agenda: A Contemporary Begin for Crypto Regulation

The Day 1 agenda for the SEC’s Company Finance division focuses on establishing readability and fostering innovation:

1. Rescind the 2019 Framework for “Funding Contract” Evaluation of Digital Property: Criticized for its broad and impractical strategy, the framework has left market individuals with out actionable steering or assist.
2. Denounce the 2018 Hinman Speech: The Chamber known as for the SEC to formally state that the speech, which has triggered confusion and market distortion, is just not company steering.
3. Subject No-Motion Letters and Fee Statements: The Chamber urged the SEC to make clear a number of key areas, together with:
   a. Blockchain community capabilities that aren’t securities transactions.
   b. Provisional definitions for when digital property implicate securities legal guidelines, providing readability past the Howey take a look at.
   c. Categorizing particular digital property like native tokens, stablecoins, and NFTs as non-securities.
   d. Offering transparency on why Bitcoin and Ethereum have been deemed non-securities, making a constant framework for different tokens.
   e. Providing readability round staking actions that don’t represent securities transactions.
4. Start Rulemaking on a Token Protected Harbor Proposal: This might set up clear guidelines for when token gross sales are now not thought of funding contracts and the networks are deemed decentralized.
5. Set the Tone for Management: The Interim Chair and incoming Chair Paul Atkins have been inspired to challenge public statements resetting the SEC’s relationship with crypto stakeholders and outlining blockchain-related priorities.

A few of the Agendas for First 30 Days

1. Issuing provisional guidelines for broker-dealers to commerce and custody digital property.
2. Establishing no-action aid for broker-dealer operations utilizing blockchain for funds.
3. Initiating reforms in enforcement to focus solely on circumstances involving precise fraud or loss whereas dismissing theory-based litigation.
4. Increasing funding choices for registered funds and recognizing self-custody of digital property till certified custodians are established.

Some Agendas for Days 30–90:

1. Finalizing the definition of when digital property implicate securities legal guidelines, in coordination with the CFTC, Congress, and the Administration.
2. Proposing Token Protected Harbor guidelines to supply clear pathways for decentralized community recognition.
3. Establishing particular disclosure requirements tailor-made to digital property that implicate securities legal guidelines.
4. Offering a transparent registration path for digital asset-related companies, together with token issuers.
5. Approving extra spot ETF purposes for property like SOL, XRP, and BITW.
6. Revisiting necessities for nationwide securities exchanges to listing digital asset ETFs, aiming to align them with world requirements.

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