ChainCatcher news, according to Cointelegraph, as Trump prepares to take office as President of the United States in January 2025, the crypto community is speculating on the most likely candidates to lead the U.S. Securities and Exchange Commission (SEC). Crypto lawyer Jake Chervinsky stated in a post on X that SEC Commissioner Mark Uyeda is seen as a strong candidate for the position.Uyeda was appointed as an SEC Commissioner on June 30, 2022, and has consistently opposed enforcement-driven cryptocurrency regulation, earning the support of industry advocates seeking a more collaborative approach. Trump promised to fire Gensler on his first day in office, and since then, the crypto community has speculated that SEC Commissioner Hester Peirce could be a potential contender for the chair.However, Chervinsky stated that the likelihood of Peirce taking the lead is "very low," adding that he doubts she would be willing to take on a leadership role at the SEC. Chervinsky also mentioned that Trump might want to choose someone other than Uyeda to lead the SEC during his term. Furthermore, the lawyer emphasized that Trump's primary crypto policy focus must be to end Biden's "attempts to destroy the industry through enforcement regulation."

ChainCatcher News, SEC Commissioner Mark T. Uyeda urged the United States to take a more proactive approach to cryptocurrency regulation, pointing out the leading position of Indo-Pacific countries such as Japan, Singapore, and Hong Kong in this field. He emphasized that these countries have established clear frameworks that support innovation while protecting investors, in contrast to the United States, where the lack of clear guidelines creates uncertainty for market participants.Mark T. Uyeda praised the regulatory progress in the Indo-Pacific region, stating, "I believe we can learn a lot from the practices of market regulators in the Indo-Pacific region, especially in how to advance these values and goals." He noted that Indo-Pacific countries have developed forward-looking regulations that balance the need for innovation with investor protection.It is reported that the Indo-Pacific region encompasses the Indo-Pacific waters, typically including countries and political entities near these waters, and is broader in scope than the Asia-Pacific region.

ChainCatcher news, U.S. Securities and Exchange Commission Commissioner Mark Uyeda stated that the commission's approach to regulating cryptocurrency is a "disaster," and that the agency has "not taken any steps" to clarify the rules.

ChainCatcher news, according to Watcher.Guru, U.S. Securities and Exchange Commission (SEC) Commissioner Mark Uyeda acknowledged that their approach to cryptocurrency is "a disaster for the entire industry."

ChainCatcher news, according to FOX Business reporter Eleanor Terrett, SEC Commissioner Hester Peirce directly rebutted SEC Chairman Gary Gensler during a hearing held by the House Financial Services Committee, stating that the SEC has taken a legally inaccurate stance regarding cryptocurrencies to cover up issues of regulatory ambiguity:"I think we as regulators have failed in precision, so to say in a footnote, 'Yes, we acknowledge that this token itself is not actually a security,' is something we should have admitted long ago, and then start addressing those difficult questions."

ChainCatcher news, according to The Block, SEC Commissioner Mark T Uyeda stated at the Korea Blockchain Week 2024 event that the SEC needs to create a dedicated S-1 registration for digital asset securities.Uyeda pointed out that the SEC has the flexibility to tailor registration requirements for specific financial products, and this approach should extend to the realm of cryptocurrencies and digital asset securities. He emphasized that the SEC should not create a "catch-22" situation by requiring digital asset securities issuers to provide irrelevant or unattainable disclosure information. Uyeda also stated that the SEC should clarify which digital assets fall under the category of securities and consider the practices of other jurisdictions globally in future rule-making. Nevertheless, digital assets are currently not included in SEC Chairman Gary Gensler's regulatory agenda.

ChainCatcher news, according to CoinDesk, SkyBridge Capital founder and CEO, former White House Communications Director under the Trump administration, Anthony Scaramucci, stated in an interview that if Trump is elected, the new government will create a supportive environment for the cryptocurrency industry. "They will appoint an SEC commissioner who supports the U.S. Securities and Exchange Commission, supports cryptocurrency, and supports digital assets," he said. "The whole discussion about what constitutes a security, what constitutes a token, and all these things will be set aside."Scaramucci indicated that the Democrats' failure to introduce cryptocurrency legislation has harmed their prospects in the upcoming presidential election. Although he supports Trump's stance on cryptocurrency and reaching consensus on clear crypto legislation, he will not be voting for the former president in November.

ChainCatcher news, SEC Commissioner Hester Peirce stated in an interview that she may reconsider the creation/repurchase of similar Stake and Ethereum/Bitcoin ETFs. She said, "I think things like staking, or any features of a product... for me, these are always worth reconsidering."

ChainCatcher news, Alexander Grieve, head of government relations at the venture capital firm Paradigm, stated that SEC Commissioner Mark Uyeda issued a statement regarding the registration rules for index-linked annuities and registered market capitalization-adjusted annuities. In a footnote, he called for an update to the S-1 form to better accommodate the uniqueness of cryptocurrencies. This is Uyeda's first public call for a tailored information disclosure system for crypto assets.

ChainCatcher news, according to Forbes reporter Eleanor Terrett, SEC Commissioner Mark Uyeda spoke at a global securities regulators meeting, promoting the benefits of tokenization: "Tokenization can provide a higher level of security, transparency, and immutability for transactions. It may also eliminate the need for most intermediaries, streamline processes, and reduce transaction costs."

ChainCatcher news, according to Forbes reporter Eleanor Terrett on X, SEC Commissioner Hester Peirce announced a proposal for a joint "digital securities sandbox" between the US and the UK, where companies from both jurisdictions can establish a safe harbor. This allows for the secure experimentation of using blockchain technology for securities trading without the fear of regulatory warnings. In her letter, she proposed inviting the US to participate in the "sandbox," which was initially proposed for UK companies by the Bank of England and the Financial Conduct Authority.Peirce's proposal would enable the US Securities and Exchange Commission to establish a "micro-innovation sandbox," allowing US companies to:Use blockchain technology to conduct limited business in the US for trading securities without the fear of being targeted by regulators.The duration in the sandbox would be up to 2 years, with the possibility of extension.FinHub will assist companies in understanding and navigating the sandbox. Companies can choose some of their own regulatory rules but must adhere to certain government guidelines to protect investors.If the time in the sandbox is successful, companies may be able to graduate and continue their activities under special permission from regulators.

ChainCatcher news, according to Cointelegraph, at the ETHDenver conference, SEC Commissioner Hester Pierce stated in a conversation with CNBC's MacKenzie Sigalos that decentralization benefits the U.S. financial system. She said, "Decentralization can actually bring resilience and strength to the financial system. Therefore, I hope to see more resilience and strength... The problems of centralization always keep me awake at night."In addition, Hester Pierce also stated that the SEC is in "enforcement mode" regarding cryptocurrencies. "What I’m reflecting is that you all are spending part of your brainpower thinking about how to avoid being sued. If we had clearer rules, you could focus on building."It is reported that Hester Peirce was a lawyer and was appointed as a commissioner of the U.S. Securities and Exchange Commission (SEC) by former President Donald Trump in 2018.

ChainCatcher News, SEC Commissioner Hester Peirce stated on the official website that the SEC has finally approved multiple applications for listing and trading Bitcoin spot exchange-traded products (ETPs), a decision achieved under the intervention of the U.S. Court of Appeals for the D.C. Circuit. Nevertheless, this approval does not compensate for the numerous damages caused by the unfair treatment of Bitcoin spot products.Peirce pointed out that the approval process for Bitcoin-related ETPs is markedly different from the routine approvals of other ETPs over the past decade, leading to prolonged rejections. The SEC had previously rejected applications on the grounds of the Bitcoin market's immaturity and manipulation issues, but now, the SEC's approval order indicates that the high correlation between Bitcoin futures and spot market prices over the past two and a half years has demonstrated the existence of mechanisms to prevent fraud and manipulation. Peirce criticized the SEC's rejections of applications, which have damaged public trust and diverted limited human resources.

ChainCatcher news, according to Bloomberg citing informed sources, SEC commissioners are expected to vote next week on the 19b-4 filings submitted by ETF issuers. Typically, ETF approvals can be delegated to SEC staff without a commissioner vote. It is currently unclear whether SEC staff have provided additional feedback on the 19b-4 applications from all companies.Additionally, issuers also need the SEC to sign off on the final version of their S-1 filing, which is the prospectus document for the ETF. The approvals for the 19b-4 and S-1 forms may or may not occur simultaneously, but usually the S-1 form is approved after the 19b-4 form. If both approvals are obtained, the ETF could begin trading as early as the next business day after approval.

ChainCatcher News, SEC Commissioner Hester Pierce recently commented on the potential of a Bitcoin spot ETF in an interview, stating that she believes the SEC should not hinder the approval of the ETF.During an interview with Bloomberg on Tuesday, Pierce mentioned the SEC, saying, "I think I have been very clear about my views; for years I have believed that we have no reason to block the approval of a spot Bitcoin exchange-traded product."

ChainCatcher news, SEC Commissioner Mark Uyeda stated that the SEC needs to consider proposing rules or guidance for regulating cryptocurrencies, rather than taking a more enforcement-oriented approach. The SEC has not taken steps to help formulate laws for cryptocurrencies, but has instead adopted a case-by-case approach through enforcement actions, meaning that achieving any type of legally binding precedent will take years, as matters need to go through the courts before reaching the appellate court.

ChainCatcher news, during an interview with CNBC, SEC Commissioner Hester Peirce stated, "I can't say whether the SEC is ready to approve a Bitcoin ETF. For the past five years, I have believed that we should approve this product," and added that the logic behind why the SEC has not approved a Bitcoin ETF has always puzzled her.