The U.S. Securities and Exchange Commission (SEC) is shaking things up again. Acting Chair Mark T. Uyeda has asked agency staff to review several older staff statements concerning crypto investments. He aims to look into how securities laws apply to digital assets. This decision is part of Executive Order 14192 , Unleashing Prosperity Through Deregulation. It also follows recommendations from the Department of Government Efficiency (DOGE). The goal is to determine whether these statements should be updated or removed to reflect the SEC’s current priorities better. Revisiting the Howey Test and Digital Assets Uyeda wants the SEC to rethink its approach to digital assets. Some statements under review were written years ago before digital assets became a major part of the financial world. One key document from 2019 explained how to tell if a digital asset is a security using the Howey Test. This test checks if an investment depends on others to make a profit. That rule has caused a lot of debate over the years, especially as new types of tokens and memecoins have entered the scene. Recently, the SEC even said memecoins might not be covered by securities laws. Bitcoin Futures and Mutual Fund Warnings Under Review Uyeda also pointed to a 2021 staff statement that warned investors about mutual funds holding Bitcoin futures. The SEC said these funds were risky because Bitcoin’s price could swing wildly. Also, the markets might be too small or unstable. However, things have changed. Spot Ethereum and Bitcoin exchange-traded funds (ETFs) are popular and hold billions in assets. Uyeda now wants the agency to revisit whether these old concerns still apply. After major crypto bankruptcies in 2022, the SEC told companies to warn investors about any links to crypto markets. That included risks like losing access to funds, bad press, and tighter rules. Uyeda said it is time to review these statements again to see if they are still helpful or too outdated. In addition, the regulatory agency will review a 2021 Risk Alert about the special risks of trading digital assets. A 2020 statement from the Division of Investment Management on a Wyoming rule that lets trust companies hold digital assets. It will also look at the two statements related to COVID-19 issued during the pandemic. SEC Faces a Wave of Staff Resignations This internal review comes at a time when the SEC is facing many staff departures. According to a recent Reuters report , more than 600 workers, over 12% of the total staff, have accepted voluntary buyout offers and agreed to leave the agency. Meanwhile, the SEC has not made an official statement regarding these exits. Nevertheless, the timing adds pressure to Uyeda’s efforts to review and possibly reshape the agency’s approach to digital assets. The post SEC Acting Chair Orders Review of Old Crypto Guidelines appeared first on TheCoinrise.com .
