SEC Includes Cryptocurrency in Top Priorities for 2025
10/22/2024 21:28SEC has put cryptocurrency in its crosshairs for 2025, but there may be surprising twist
SEC has put cryptocurrency in its crosshairs for 2025, but there may be surprising twist
The U.S. SEC has officially added cryptocurrency to its list of items to examine for 2025, according to a report by FOX Business journalist Eleanor Terrett.
In a recent document, the SEC outlines its plans to continue to monitor crypto markets, with a focus on investments involving digital assets and related investment vehicles. Registrants that provide services related to these assets can expect assessments of their conduct in areas such as offering, trading and advising on crypto assets, with a particular focus on retail investors and retirement assets.
The SEC also plans to review registrants' compliance practices, including custody and wallet reviews, Bank Secrecy Act compliance and risk management procedures.
In addition, exams will assess how registrants address technological risks associated with blockchain and distributed ledger technology, including the security of crypto assets.
Crypto crackdown, But Gensler out?
While this sounds like a looming horror for the market, there is a hint of relief in it. Specifically, there is talk that the current head of the commission, Gary Gensler, may leave his post.
The reason for this is that although the five-year term for the head of the SEC does not expire until January 2026, there is a tradition of leadership changes after the U.S. presidential election, which will take place in November.
In addition, the regulator's enforcement actions against crypto companies have been criticized by both industry leaders and the U.S. Congress.
Despite this potential change, the SEC's focus on the crypto industry for 2025 remains clear, signaling a continued push for more oversight and regulation.
About the author
Gamza Khanzadaev
Financial analyst, trader and crypto enthusiast.
Gamza graduated with a degree in finance and credit with a specialization in securities and financial derivatives. He then also completed a master's program in banking and asset management.
He wants to have a hand in covering economic and fintech topics, as well as educate more people about cryptocurrencies and blockchain.
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