SEC Dials Down Crypto Oversight, Reassigns Agency Lawyers: Report

The US Securities and Exchange Commission cuts its specialized crypto enforcement unit back and rejects more than 50 lawyers and employees who focus on regulating digital assets as a changing landscape under President Donald Trump shoots Wortel.

According to a Tuesday, different members of the Crypto unit have been moved to different departments within the desk report Through The New York Timescited those different anonymous sources.

At least one senior lawyer was completely removed from the enforcement division – a movement that described some insiders as an ‘unfair relegation’, according to the report.

The revision of the crypto unit is part of the efforts of the Trump administration to limit government intervention in digital assets. Trump has sworn to curb the supervision of regulations in the crypto sector since its presidential campaign and the US to make a global leader in digital assets.

Although the SEC has not yet responded to requests for comments from Decrypt During the restructuring, Commissioner Hester Peirce, who now leads the newly formed Crypto Task Force of the Agency, has indicated a significant shift in the priorities of the agency.

Peirce, an old advocate for clearer crypto guidelines, blasted The earlier regulatory approach of the SEC in one rack On Tuesday it called “marked by legal inaccuracy and commercial improvement.”

Known by people in the industry as ‘Crypto Mom’, Peirce compared the earlier treatment of digital assets by the desk with ‘a car that ran on the road’ and promised to introduce a more balanced framework.

The staff change also raises questions about current sec -rights cases against large crypto companies, including Crypto Giant Coinbase. Sec sued The exchange in 2023, claiming that it worked as a non -registered securities platform.

That case became a litmus test for the statement of former chairman Gary Genler that most cryptos had to be classified as effects.

During the term of office of Gensler, several industrial leaders shot back and accused the SEC of an attempt to kill the crypto industry illegally and refuse to offer clear regulatory guidelines.

The revision of the SEC is only one part of the broader effort of the Trump government to rewrite the Rulebook on Crypto.

Last month, the desk deleted Personnel accounting bulletin no. 121 (SAB121), a controversial policy that forced companies to treat the customer’s crypto as liability.

Critics, including Peirce, said that the rule had charged unfair banks and did not stop embracing digital assets.

In one of his first executive orders, the president set -up A presidential working group on crypto policy and has prohibited the establishment of a central bank digital currency (CBDC)-a clear rejection of a ‘digital dollar’ issued by the government.

Published by Sebastian Sinclair