Big news from the SEC—Acting Chair Mark Uyeda has asked the team to take a fresh look at how the government is currently handling crypto risks and regulations. This comes as part of an effort to align with Executive Order 14192, which focuses on cutting red tape and making regulations more business-friendly.
One of the first targets is the 2019 Framework for Investment Contract Analysis of Digital Assets. This document was based on a 2018 speech by former SEC official Bill Hinman, where he suggested that whether a crypto token is considered a security depends more on how centralized the project is, rather than how it was sold. That idea has been pretty controversial in the crypto world, and it looks like the SEC is ready to reconsider it.
Statement from Acting Chairman Mark Uyeda: Pursuant to Executive Order 14192, Unleashing Prosperity Through Deregulation, together with recommendations from DOGE, I have requested Securities and Exchange Commission staff promptly to review the following staff statements.
— U.S. Securities and Exchange Commission (@SECGov) April 5, 2025
Uyeda isn’t just looking at Bill Hinman’s 2018 crypto speech—he’s also reviewing key documents, including:
- A 2022 guide for crypto companies on market chaos and bankruptcies.
- A 2021 risk alert about crypto investor threats due to unclear rules.
- A 2020 memo questioning if banks can legally hold digital assets.
- A 2021 advisory on mutual funds investing in Bitcoin futures.
- A 2020 note on COVID-19’s impact on company disclosures.
The review aims to roll back some of the stricter rules put in place during Gary Gensler’s time as SEC Chair. Gensler was known for his tough stance on crypto, which many felt was more about blocking innovation than protecting investors. His approach even got called “arbitrary and capricious” by courts more than once.
Now, with Uyeda leading the charge and folks like Hester Peirce and Paul Atkins pushing for more transparency, it looks like the SEC is opening up. They’ve been holding crypto roundtables, meeting with industry leaders, and even had a sit-down with BlackRock recently to discuss crypto ETFs and related issues.
It’s clear the SEC is starting to clean house, getting rid of outdated rules, and making room for a crypto-friendly future. Investors and crypto enthusiasts are definitely watching closely to see what changes come next.
