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The U.S. Securities and Exchange Commission is scheduled to hold its first closed meeting since the departure of Chair Gary Gensler.
The meeting will focus on the institution and settlement of injunctive actions and administrative proceedings as well as the resolution of litigation claims, among other matters.
As reported by U.Today, the regulator-watchdog is rumored to be ditching some nonfraud cryptocurrency enforcement actions.
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Commissioner Mark Uyeda took over the agency earlier this week, becoming its acting chairman.
Stuart Alderoty, Ripple’s top lawyer, previously said that he expected the new administration to drop the ongoing appeal case against the company.
The agency could also freeze or drop enforcement actions against other major crypto players.
SEC’s crypto task force
In the meantime, the agency also launched a new crypto task force, spearheaded by Commissioner Hester Peirce. The commission will be focused on developing a clear regulatory framework for digital assets.
This move has been widely celebrated within the industry, which has long been clamoring for clear rules of the road.
“Looking forward to working with the Crypto Task Force to undo the prior administration’s damage,” Alderoty commented.
“A sea change compared to the last 4 years. We look forward to working with the Commission to help crypto founders obtain the clarity they’ve long sought,” Alexander Grieve, VP of Government Affairs at Paradigm, said.
Kristin Smith, CEO of Blockchain Association, has also stated that the announcement is “welcome news.”
Fix today. Protect forever.
Secure your devices with the #1 malware removal and protection software
The Securities and Exchange Commission (SEC) has announced that it will be holding a meeting to discuss the resolution of litigation cases. This meeting is set to take place on [date] and will involve the review of various legal matters that the SEC has been involved in.
The resolution of litigation is an important aspect of the SEC’s work, as it helps to ensure that regulatory violations are addressed and that investors are protected. During the meeting, the SEC will consider the best course of action for each case, taking into account factors such as the severity of the violation, the potential impact on investors, and the resources required to pursue legal action.
This meeting is part of the SEC’s ongoing efforts to enforce securities laws and protect investors from fraud and misconduct. By resolving litigation cases in a timely and effective manner, the SEC can send a clear message to market participants that regulatory violations will not be tolerated.
Stay tuned for updates on the outcomes of the meeting and the SEC’s efforts to resolve litigation cases.
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