The SEC May Reconsider Its Stance On Regulating Crypto Platforms

The United States Securities and Exchange Commission (SEC) may soon abandon its initiative aimed at requiring certain crypto companies to register as exchanges. Mark Uyeda, acting chairman of the SEC, has asked the institution’s teams to explore ways to renounce this regulatory change.

Is the SEC about to yield to crypto platforms?

The proposed amendment aimed to broaden the definition of alternative trading systems (ATS) to include certain players in the crypto sector. If this rule had been adopted, several platforms would have had to comply with the same obligations as traditional exchanges. However, this approach had sparked strong opposition from Web3 companies and advocates of decentralized finance (DeFi), who believed it would jeopardize innovation and hinder the growth of the sector in the United States.

In a speech delivered at the Institute of International Bankers on March 10, 2025, Mark Uyeda, the promoter of the crypto task force, raised concerns about the applicability of this regulation to crypto players. He emphasized that digital markets operate differently from traditional exchanges and that adopting overly rigid rules could hinder their development.

A signal of easing towards the industry

This potential turnaround marks a change in tone within the SEC, which has been particularly strict towards the crypto industry under the leadership of Gary Gensler. The latter had intensified legal actions against several companies in the sector, including Ripple, Binance, and Coinbase, accusing them of operating without proper registration in accordance with current regulations.

If the SEC were to abandon this measure, it could be perceived as a signal of easing towards the crypto ecosystem, at a time when several companies are considering relocating their activities due to regulatory uncertainty in the United States. Nevertheless, this change in position does not necessarily imply a more lenient regulation. The SEC may simply be seeking an approach that is more suited to the specificities of crypto platforms.

The future of this reform will therefore depend on the recommendations of the SEC teams and the direction the agency takes under its future leadership. Players in the crypto sector remain attentive to these developments, which could redefine the regulatory framework in the United States for digital assets.