The Breakdown The Newly Pro-Crypto SEC Gets a Running Start
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Jan 24, 2025 Exciting changes are afoot at the SEC with new pro-crypto initiatives aiming to foster innovation rather than just enforcement. A task force has been formed to create a clear regulatory framework, signaling a seismic shift in attitudes. There’s rising optimism as more ETF applications emerge, alongside major financial institutions recognizing Bitcoin as a legitimate strategic asset. With insights from heavyweight firms like Goldman Sachs and BlackRock, the narrative around cryptocurrency is evolving rapidly.
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SEC Policy Shift
- The SEC is shifting from an anti-crypto stance to a pro-crypto one.
- This policy change is driven by Commissioners Hester Peirce and Mark Uyeda.
Peirce's Three-Phase Plan
- Hester Peirce's plan involves establishing a task force, removing enforcement actions, and allowing crypto-native financial products.
- She aims to shift the conversation at crypto conferences towards technology and potential.
ETF Approval Predictions
- The SEC's new permissive stance is expected to lead to a wave of ETF approvals.
- Asset managers are filing numerous applications, anticipating easier approvals under the new administration.