• SEC hinted at a softer position on crypto regulation under acting Chair Mark Uyeda
• Paul Atkins’ nomination has sparked hopes for clearer, pro-market digital asset rules

The evolving landscape of the crypto market has reignited debates around how best to regulate digital asset trading. Especially as the SEC signals a departure from its earlier position.

The recent appointment of Paul Atkins—whose regulatory views contrast sharply with those of former Chair Gary Gensler—has only fueled further speculation.

Acting SEC Chair calls for temporary fixes

Amid this backdrop, Acting SEC Chair Mark Uyeda proposed the idea of a temporary regulatory framework during a roundtable held on 11 April. It brought together major industry players like Coinbase, Uniswap Labs, FalconX, and representatives from the NYSE.

The session, titled “Between a Block and a Hard Place: Tailoring Regulation for Crypto Trading,” marked the second in a five-part series aimed at reshaping crypto oversight.

Remarking on the same, Uyeda said, 

“While the Commission works to develop a long term solution to address these issues, a time-limited, conditional exempt relief framework for registrants and non-registrants could allow for greater innovation with blockchain technology within the United States in the near term.”

Does this signal a shift from Gensler’s regulatory grip?

Needless to say, Uyeda and the SEC are signaling a shift from the previous administration’s hardline position on crypto.

Previously too, Uyeda had suggested revisiting a controversial Biden-era proposal that imposed stricter crypto custody rules on investment advisers. At the time, he cited industry concerns over its broad scope.

Hence, speaking at an SEC roundtable with executives from Coinbase, Uniswap Labs, and Cumberland DRW, Uyeda emphasized the need for a temporary fix. All while a long-term solution is crafted.

He also warned against fragmented state-by-state regulations which could lead to a patchwork of inconsistent rules.

Other execs and their regulatory POVs

Meanwhile, voices like Urvin Finance’s Dave Lauer are pushing for urgent clarity on whether the SEC or CFTC should lead crypto oversight or not. 

Lauer said,

“I have found that the turf warfare, the infighting, the constant question of who should be regulating what has caused investor harm directly.”  

Therefore, as the SEC navigates growing calls for clearer crypto oversight, all eyes now turn to Paul Atkins – President Trump’s nominee to lead the agency.

Known for his pro-market position, Atkins has promised to bring a more “rational” and “coherent” regulatory framework to the crypto space.

“A top priority of my chairmanship will be to work with my fellow Commissioners and Congress to provide a firm regulatory foundation for digital assets through a rational, coherent, and principled approach.”

What’s more?

Notably, Ripple CEO Brad Garlinghouse too acknowledged during a December 60 Minutes interview that leadership shifts within the SEC could mark a turning point for the industry.

“We haven’t been asking to be deregulated. We’ve been asking to be regulated. Our goal is to simply get rules written.”

Hence, with a new chair on the horizon, stakeholders await how Atkins’ approach might reshape the future of digital asset regulations.