SEC Chief on New Approach to Crypto Industry Regulation

[zasad@]

AI:
"New Policy for DeFi:

- The SEC is working to create an “innovation exemption” for DeFi platforms that would free them from regulatory hurdles.
- The SEC needs to change its rules to provide relief to issuers and intermediaries in blockchain systems.
- DeFi software developers should not be held liable for how their tools are used.
- The agency’s previous approach stifled innovation by claiming that developers could be brokers.

Position on Self-Custody of Cryptocurrency:

- The right to self-custody of private property is a “fundamental American value.”
- The SEC intends to give crypto investors more flexibility to self-custody their tokens.

The regulator’s new approach:

- A fundamental change in the SEC’s tone and stance toward the crypto industry.
- Criticism of applying “century-old regulatory frameworks” to new technologies.
- “Don’t be afraid of the future.”
- Establishment of a cryptocurrency task force
- Conducting roundtables on various aspects of cryptocurrencies.
- Republican majority on the commission promotes crypto-friendly policies."

https://www.coindesk.com/policy/2025/06/09/u-s-sec-chair-says-working-on-innovation-exemption-for-defi-platforms

[avikz]

Reads all positive! If SEC really changes their tone and approach towards the crypto industry, it will be a blessing in real sense. While I agree it's a fresh new approach, I believe this policy is at a draft stage and not finalized yet. So we will need to see what the future has in store.

If SEC really practice such policy in reality, the overall crypto industry may see the next boom. But being lenient should not encourage the group of scammers entering into this market and bring in crape in the name of innovation. We have seen that enough!

[yhiaali3]

In theory, the SEC's new approach to regulating the cryptocurrency industry sounds great and covers all the troubling aspects of the previous approach, but we'll have to wait for its practical implementation.
I'm particularly struck by two provisions:

- DeFi software developers should not be held liable for how their tools are used.
- The agency’s previous approach stifled innovation by claiming that developers could be brokers.

This seems specifically aimed at responding to the Tornado Cash case, which is a positive thing because the SEC's previous approach stifled innovation.

Another interesting point:

- The right to self-custody of private property is a “fundamental American value.”

This is a very impressive provision if implemented, and it guarantees the Bitcoin and cryptocurrency community's right to store their assets in non-custodial wallets to which they hold the private keys.

[Z-tight]

- The agency’s previous approach stifled innovation by claiming that developers could be brokers.

That is what the crypto industry and its developers endured during the last administration, to such an extent that developers of self custodial wallets, i.e. Samourai wallet, were arrested and indicted. It is about time such attacks stopped, so the crypto industry can progress, that of course does not mean creators of shitcoins and memecoins with the aim of scamming people should be allowed to freely do so.

[zasad@]

- The agency’s previous approach stifled innovation by claiming that developers could be brokers.

That is what the crypto industry and its developers endured during the last administration, to such an extent that developers of self custodial wallets, i.e. Samourai wallet, were arrested and indicted. It is about time such attacks stopped, so the crypto industry can progress, that of course does not mean creators of shitcoins and memecoins with the aim of scamming people should be allowed to freely do so.

New policy does not mean law.

Whether such policy will become law or not, legal practice will show us. As lawyers say in my country: "Practice is the criterion of truth"

So far I see that projects related to privacy, anonymity are not very popular with regulators and court cases continue.

[zasad@]

SEC and NYSE are developing an approach to regulating crypto.
"On June 24, 2025, Crypto Task Force Staff met with representatives from New York Stock Exchange,
Inc.
The topic discussed was approaches to addressing issues related to regulation of crypto assets. New York
Stock Exchange, Inc. representatives provided the attached document, which was discussed during the
meeting."

https://www.sec.gov/files/ctf-memo-nyse-062425.pdf