As a seasoned crypto investor with a decade of navigating the volatile digital asset market, I find the SEC’s 2025 focus on cryptocurrency both intriguing and slightly nerve-wracking. With my hard-earned savings at stake, it’s crucial that regulatory bodies like the SEC provide a clear and stable framework for our investments.
As a researcher, I’ve recently learned that my focus areas for the coming years, as per a report by Eleanor Terrett of FOX Business, will include the examination of cryptocurrencies, as these digital assets have been officially added to the U.S. Securities and Exchange Commission’s (SEC) agenda for 2025.
In a newly released report, the Securities and Exchange Commission (SEC) has detailed its intention to closely watch over the cryptocurrency market, specifically focusing on transactions involving digital assets and associated investment tools. Companies offering services related to these digital assets should be prepared for scrutiny of their activities in areas like offering, trading, and advising on cryptocurrencies. The SEC will pay special attention to retail investors and retirement funds during this evaluation.
Additionally, the SEC intends to scrutinize the compliance practices of registered entities, focusing on areas such as safekeeping of assets, digital wallet assessments, adherence to the Bank Secrecy Act, and risk management policies.
🔵UPDATE: Even after a year, the Securities and Exchange Commission (SEC) continues to prioritize cryptocurrencies for examination in 2025, despite no significant crypto entities having registered with them in 2024.
— Eleanor Terrett (@EleanorTerrett) October 22, 2024
Furthermore, the exams are designed to evaluate the competency of registrants in managing technological hazards linked to blockchain and distributed ledger technology, specifically focusing on the safety measures for cryptocurrencies.
Crypto crackdown, But Gensler out?
Although this situation seems daunting for the market, there’s a glimmer of hope as well. The speculation is that the current head of the commission, Gary Gensler, might step down from his position.
The explanation here is due to a longstanding practice: even though the SEC chair’s five-year term doesn’t end until January 2026, it’s customary for new leadership to emerge following the U.S. Presidential election in November.
Furthermore, the regulatory agency’s actions enforcing rules on crypto businesses have drawn criticism from influential figures within the industry as well as members of the U.S. Congress.
Regardless of any possible alterations, it’s evident that the Securities and Exchange Commission (SEC) intends to maintain its focus on the cryptocurrency sector in 2025, indicating a persistent effort towards increased supervision and regulatory measures.
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2024-10-22 17:34