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THE SEC PLANS TO MOVE FAST ON CRYPTO POLICY OVERHAUL UPON TRUMP’S INAUGURATION

▪️The SEC is preparing to overhaul crypto policy under a new pro-industry chair, Paul Atkins, replacing Gary Gensler.

▪️Commissioners Hester Peirce and Mark Uyeda plan to clarify which cryptoassets are securities and reduce enforcement actions.

▪️Experts expect Congress and the White House to join the SEC in promoting innovation-friendly regulations.

Under Trump’s administration, the SEC is set to begin an overhaul of its crypto policy as soon as next week. Rumored first steps include reassessing which cryptoassets are securities and cooling off enforcement actions.

Commissioners Hester Peirce and Mark Uyeda both worked with incoming Chair Paul Atkins in the past and are actively planning to cooperate again as a pro-crypto majority.

The SEC’s Role in Crypto Policy

According to a report from Reuters, the SEC is ready to hit the ground running with radical changes to crypto policy. Less than a week remains until Donald Trump’s inauguration, and some experts anticipate a new rally.

New rumors of pro-crypto executive orders already juiced Bitcoin’s price, and Congressional industry allies are planning their own moves:

“Under Gensler, the SEC refused to provide clarity to the crypto industry. Moving forward, [we] will work to build a regulatory framework that… will promote consumer choice, education, and protection [and] foster an open-minded environment for new, innovative financial technologies and digital asset products,” claimed Senator Tim Scott.

In other words, the SEC is only one player in a broad coalition of crypto policy reform. To that end, the Commission is preparing for its Chair, Gary Gensler, to resign on Inauguration Day. A pro-industry replacement, Paul Atkins, has already been selected, but some of its sitting Commissioners are already planning their next moves.

Hester Pierce, who has long opposed SEC crypto crackdowns, and fellow pro-crypto Commissioner Mark Uyeda are weighing a few options to influence policy.

The pair both worked closely with Atkins in the past, and sources have claimed they plan to clarify which cryptoassets legally qualify as securities. They have yet to comment on other specific changes.

Trump’s SEC team is here to shake things up in crypto! Hester Peirce and Mark Uyeda are taking a second look at the ongoing cases—some might even get frozen if no fraud’s involved. The big play? Boosting Bitcoin. Pompliano’s already throwing ideas like a national Bitcoin reserve and no capital gains tax on BTC payments,” wrote Mario Nawfal.

Crypto Lawsuits Are Likely to Slow Down

One strong possibility for a policy change is the SEC drastically reducing its crypto crackdowns. In his last days, Gensler has been recalcitrant about maintaining a fight with Ripple, even though his effort could soon fall apart.

After he leaves, the SEC may drop this and “dozens” of other enforcement actions. As BeInCrypto reported earlier, Trump is already expected to sign a pro-crypto executive order on his first day. The order will likely overturn controversial SAB 121, which restricts banks from holding crypto.

Although the courts may not approve of such a cool-down period, there is precedent. Shortly after Trump’s election, the US Attorney for the SDNY signaled that his office would scale back crypto prosecutions.

This district enforces many high-profile finance activities, including the Sam-Bankman Fried case, but it still openly plans to ease off.

In other words, the SEC has many avenues for impacting US crypto policy in short order. Pierce and Uyeda haven’t signaled any other immediate plans besides classifying assets’ security status and reviewing enforcement cases. However, they are closely considering the issue.

Between a friendly SEC, Congress, and President, sweeping changes will be easy to implement.

@ Newshounds News™

Source:  Be In Crypto

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U.K.’S NEW ECONOMIC SECRETARY EMMA REYNOLDS TO OVERSEE CRYPTO

Emma Reynolds, former parliamentary secretary at the Treasury, has been appointed the new economic secretary.

Reynolds’s appointment follows the resignation of Tulip Siddiq, who stepped down in a letter to the Prime Minister. Siddiq, the member of parliament for Hampstead and Highgate, cited personal reasons for her departure.

The new economic secretary will play a key role in shaping the government’s crypto regulation agenda. In addition to digital assets, Reynolds will oversee the U.K.’s central bank digital currency plans.

Her appointment comes as the U.K. continues to push for greater regulatory compliance in the crypto sector. The government has pursued this approach over the past few years as part of its ambition to become a leading hub for digital assets innovation.

Market watchdogs, such as the Financial Conduct Authority, have adopted a more supportive stance toward the crypto industry in recent months, contrasting with the stricter approach taken by the U.S. under outgoing SEC Chair Gary Gensler.

The landscape has shifted since Donald Trump’s election, and industry players are optimistic about what the new SEC leadership could mean for the crypto ecosystem in the U.S. Trump will be inaugurated on Jan. 20.

As crypto.news highlighted, the SEC plans to move away from its “regulation by enforcement” strategy and freeze certain ongoing lawsuits that do not involve fraud.

While it remains to be seen how Reynolds will impact the U.K.’s crypto policies, the general sentiment is that the country aims to remain competitive amid growing global crypto adoption.

In December 2024, the European Union’s Markets in Crypto Assets (MICA) rules came into full effect, with industry players keen on leveraging the clarity MiCA offers to expand across the bloc.

The U.K.’s own legislation on cryptocurrencies and stablecoins is expected to be finalized in early 2025.

@ Newshounds News™

Source:  Crupto News

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H.R.369 - To provide for the elimination of the Department of Education, and for other purposes.

Sponsor:  Rep. Rouzer, David [R-NC-7] (Introduced 01/13/2025)
Committees:  House - Education and Workforce
Latest Action:  House - 01/13/2025 Referred to the House Committee on Education and Workforce. 

As of 01/15/2025 text has not been received for H.R.369 - To provide for the elimination of the Department of Education, and for other purposes.

[Congressional Record Volume 171, Number 6 (Monday, January 13, 2025)]

[House]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]
By Mr. ROUZER:
H.R. 369.
Congress has the power to enact this legislation pursuant
to the following:
Article I, Section VIII
[Page H112]

• Constitutional Authority and Single Subject Statements

About Constitutional Authority and Single Subject Statements

Pursuant to clause 7(c) of House Rule XII and Section 3(c) of 118th Congress H.Res. 5, Rule XII, to be accepted for introduction by the House Clerk, all bills (H.R.) and joint resolutions (H.J.Res.) must provide a document stating “a statement setting forth the single subject of the bill or joint resolution” and "as specifically as practicable the power or powers granted to Congress in the Constitution to enact the bill or joint resolution."

@ Newshounds News™

Source:  Congress

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