<ul><li>The Securities and Exchange Commission (SEC) may abandon a proposal to expand regulation of alternative trading systems (ATSs) to include crypto firms.</li><li>SEC Acting Chairman Mark T. Uyeda asked SEC staff for options on abandoning the proposal due to significant negative public comments on the definition of exchange with respect to crypto.</li><li>Uyeda requested SEC staff to work with the Treasury Department, the Federal Reserve, and market participants to consider whether the SEC should move ahead with the regulatory changes.</li><li>The SEC's previous regulatory proposal defined 'exchange' in a way that would have included protocols used in the crypto market, but Uyeda believes it was a mistake to link the regulation of Treasury markets with the oversight of the crypto market.</li></ul>

SEC to Abandon Earlier Effort to Include Crypto Firms in Regulation

Discover more