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Author: Jack Inabinet, Bankless; Compilation: Deng Tong, Bit Chain Vision World Realm
Elected by President Donald Trump promised to end the Bayeon government’s anti -encryption movement, and on the first day, the chairman of the US Securities and Exchange Commission, Gary Jesler, won the heart of the encryption industry.
Although Trump has not proposed the Gensler’s alternative, and his ability to dismiss the current SEC member seems to be legal, the cryptocurrency participants will still relieve the industry’s largest regulatory pain point one of the industry’s largest regulatory pain points to the new SEC chairman.The prospect is ecstatic.
Member Hester Peirce and Mark Uyeda may have withdrawn from the chairman’s position, but they have always attacked the freedom of digital assets and regulatory restrictions during the SEC.
Today, we discuss the official statement of Peirce and Uyeda, hoping to understand what the securities trading committee supports cryptocurrency under the leadership of the Trump administration may look like.
The proposed token security port
The day before Gary Gensler was confirmed to be the chairman of the SEC in April 2021, members of Peirce began to consider digital assets.
After recognizing that the new SEC chairman will propose a new priority agenda, PEIRCE tries to publish an updated token security port proposal through Github to lead the dialogue to how to formulate securities regulations to adapt to blockchain -based tokens.
PEIRCE’s update proposal aims to provide decentralized application developers with three -year federal securities registration exemption or security port.It incorporates the major amendments provided by the cryptocurrency community, securities lawyer and the public’s feedback from her February.
Under the leadership of the Trump administration, the SEC that supports cryptocurrencies is expected to give priority to providing the transparency of cryptocurrencies, while actively soliciting industry feedback to formulate regulations, balance the needs of emerging and decentralized applications, and the urgent urgency of the institution to protect the investment public in the institution.need.
Irreplaceable stupid behavior
“Stoner Cats” is a collection of 10,320 NFT. In July 2021, it was cast at an ETH price of $ 8.2 million.Stoner Cats, the starring star includes Hollywood stars such as Mira Kunnice, Ashton Kocoma and Chris Locke.As a purchase exchange, the holder of the Stoner Cats NFT will obtain the exclusive access rights of the series, the uns designated future entertainment content, and the online community.
Although the entities behind STONER CATS were eventually reached to settlement of unregistered securities issuance, Mark Uyeda, the only Republican member of the Peirce and SEC member, opposed this law enforcement operation.
Members of Peirce and Uyeda acknowledged that NFT creators should not obtain free pass permits from securities supervision, but they believe that SEC’s applicable to securities supervision in this case will only lead to law blur.
Under the leadership of the Trump administration, the SEC that supports cryptocurrencies is expected to apply security regulations to NFT to formulate a comprehensive guideline; in order to replace the uncertainty of the legal status of the tokensized Pokémon Card, the number should be clearWhen will assets be exempted from securities supervision.
Token tension
In March of this year, the US Securities and Exchange Commission (SEC) recently adopted a disputed law enforcement operation for a cryptocurrency company and solved the allegations of the cryptocurrency exchanges Shapeshift, accusing it of its online crypto asset trading platform on its online crypto asset trading platform.During operation, it acts as unregistered securities dealers.
Although Shapeshift has become a decentralized exchange exchange in 2021, more than six years, Shapeshift has served as an agent, fulfilling inventory orders, and serving as the opponent of all cryptocurrency transactions on its platform.
Although members of Peirce and Uyeda have not questioned Shapeshift as an unregistered securities dealer before 2021, in another joint objection, they expressed concern about the vagueness of the SEC law enforcement operation.
To obtain the qualifications of unregistered securities dealers, Shapeshift must promote securities sales.The SEC is unwilling to (or inability) to identify how the sales of related securities or these securities create investment contracts, thereby creating a difficult environment for the secondary transactions of encrypted assets.
Under the leadership of the Trump administration, the SEC that supports cryptocurrencies is expected to clarify which tokens are in line with securities qualifications to eliminate the threat of vague behaviors facing cryptocurrencies such as COINBASE.List with existing products.
Ferry problem
For decades of precedent, President Gensler will resign and hand over the control of the SEC to Trump’s appointment, but his term will not expire until 2026. It is unclear whether President Trump can be hereForcibly removal of Gensler’s chairman, without having to conduct a protracted lawsuit.
However, it is worth noting that,Many people in the encrypted industry interpreted Gensler’s recent speech on November 14 as informal resignation notices.For example, the chairman said “very honored to be able to serve.”
As an independent regulatory agency, the US Securities and Exchange Commission enjoys the great autonomy of the administrative department. Although Trump has praised the chairman of Gensler on the first dayMembers of the Securities and Exchange Commission can only be fired as “reasonable”, instead of simply “freely” fired.
Although the chairman of the SEC has free tailoring and supervising his staff on the budget of the agency, they need to obtain a majority of the committee to appoint the head of the administrative department, and each member has an equal speech in the voting of the institution.Guide the SEC how to explain and execute securities legislation.
The members are appointed by the US president and have a term of five years, but must be approved by the majority of the Senate.The end of the term of office is staggered to ensure that one member can be fired on June 5th each year. Although the members can serve for 18 months after the term of office expires to prevent vacancies, at any time, five members of the five members may not be allowed to occur.More than three belong to the same party.
Although the term of appointment of Commissioner Crenshaw has expired on June 5 this year, she continued to serve in SEC and was re -nominated by President Bayeng to fill the vacancies.
If this vacancy continues until President Trump’s inauguration ceremony, he can easily fill the Republican Senate’s position with the candidate he chose to consolidate the majority of the SEC who seem to support cryptocurrencies.Unfortunately, the Democratic Senate currently has sufficient time to confirm the extra 5 years of Crenshaw, and the Bayeng government can always take a sneaky rest after the Senate for the Senate on December 20.
Even if Gensler did not resign and assumes that Crenshaw’s reelection was confirmed, President Trump could still exert his power to the US Securities and Exchange Commission by speculating about the reluctant Peirce and Uyeda.
Although the campaign will not occur in this case, the acting chairman has obtained the control of the SEC staff, giving them a controversial SEC staff accounting announcement 121. The request of the acceptance of the action letter, the suspension or the suspension or the suspension of the action letterThe power to terminate the undergoing law enforcement investigation and litigation, as well as the first step to solicit public feedback as a procedure for the formulation of cryptocurrency rules in the future.
