As a seasoned analyst with over two decades of experience in financial markets, I have witnessed firsthand the evolution and maturation of various asset classes and industries. The US Securities and Exchange Commission (SEC) has always played a pivotal role in shaping these markets, but its handling of the cryptocurrency sector remains a point of contention for many.
The United States Securities and Exchange Commission (SEC) has released its list of focus areas for 2025 examinations, including “Cryptocurrency Assets” for a second consecutive year. This latest list of priorities has sparked renewed debate, as some argue that the SEC’s authority over the financial market does not equate to fair treatment in the realm of cryptocurrencies, due to perceived biases.
US SEC and the Crypto Regulation Concern
According to their planned focus areas for next year, as outlined in the Exam Priorities List, the regulatory body has recognized the rapid expansion of the broader cryptocurrency sphere. Currently, data gathered from CoinMarketCap indicates over 2.4 million different crypto assets available in the market.
Over the last year, various types of digital assets such as ordinal inscriptions, meme coins, layer-1 and layer-2 tokens, new DeFi protocols, NFT projects, and more have arisen. This fast-paced development has caught the attention of the US Securities and Exchange Commission (SEC), which has expressed its intent to closely scrutinize key players within this expanding market.
A year later, the Securities and Exchange Commission (SEC) has added cryptocurrency to their list of examination priorities for 2025, even though no significant crypto entities registered with them during 2024.
…The only cryptocurrencies I can recall where the SEC has taken on a regulatory function, rather than enforcing rules against them.
— Eleanor Terrett (@EleanorTerrett) October 22, 2024
The regulator will evaluate whether product providers are adhering to their expected behavior and compliance rules. In the past year up until now, the regulator has sent Wells Notices to companies such as OpenSea and Uniswap. Although these companies offer different products, the regulator views their services as potential securities offerings, which could lead to legal action.
Many other companies have encountered similar accusations and reached settlements. Given this trend, Eleanor Terrett of Fox Business points out an interesting fact: so far, Bitcoin and Ethereum are the only cryptocurrencies that have had a regulatory relationship rather than an enforcement one with the U.S. Securities and Exchange Commission (SEC). It’s yet to be seen if this status quo will persist in the years ahead.
Can US Presidential Election Change The Game?
As the 2024 U.S. Presidential Election draws near, there’s been a lot of chatter about its potential effects on the Securities and Exchange Commission (SEC), a topic that’s been widely discussed online.
In contrast, the leading contenders – Donald Trump and Kamala Harris – hold distinct views on the industry. While Donald Trump is often seen as a proponent of cryptocurrency due to his presidency, Kamala Harris is perceived as less favorable based on this administration’s engagement with the Securities and Exchange Commission (SEC).
Despite this, Chris Larsen has given more than $10 million to the Kamala Harris campaign. Meanwhile, Donald Trump has received over $7.5 million in cryptocurrency contributions. It seems that influential figures within the industry believe either candidate could bring an end to the Securities and Exchange Commission’s approach of enforcing regulations.
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2024-10-22 19:25