Hope for Better Relations Between Crypto and SEC
The crypto industry is looking forward to improved relations with the SEC under the leadership of Paul Atkins. His 90-day plan aims to establish clearer regulations, reduce unnecessary lawsuits, and eliminate outdated rules. This approach could rebuild trust between the SEC and the crypto community while fostering innovation. The next three months will be critical for shaping a fairer regulatory framework.
Support for the Crypto Industry from New SEC Leadership
Paul Atkins, a well-known advocate for cryptocurrencies, could bring significant regulatory changes. This shift could lead to clearer rules and better communication between the SEC and the crypto sector.
The Digital Chamber emphasized in its statement: “The digital asset sector seeks to operate responsibly, and the SEC must recognize this to support a transparent and productive ecosystem.” The group urges the need to build mutual trust.
Criticism of the “Regulation by Enforcement” Approach
The SEC has faced criticism for relying on regulation through enforcement measures. This strategy has caused confusion and hindered innovation. The Digital Chamber calls for more transparent rules to create a fairer market environment and encourage business growth.
90-Day Plan for Crypto Reform
Token Alliance has presented a 90-day plan aimed at changing how the SEC approaches cryptocurrency regulations. Key proposals include:
Reviewing ongoing investigations, Wells notices, and lawsuits.Pausing legal actions that do not involve fraud or investor harm.Removing outdated rules, such as the Howey test for digital assets or the "Hinman Speech."Establishing clear and consistent rules to replace existing confusion.
This approach could remove barriers stifling innovation and restore investor confidence.
Addressing the Impact of SAB 121
One of the issues addressed in the plan is the Staff Accounting Bulletin 121 (SAB 121), which requires companies holding cryptocurrencies to report them as liabilities. Token Alliance warns that this rule pushes investors to foreign markets and creates unnecessary risks.
A New Approach Under Atkins
With Paul Atkins taking the reins at the SEC, a shift is expected compared to the policies of his predecessor Gary Gensler. Atkins is likely to collaborate with commissioners Hester Peirce and Mark Uyeda, who have been critical of previous regulatory measures.
Promise of Collaboration
Positive signals also come from recent discussions between the Token Alliance and commissioners Peirce and Uyeda. Both commissioners expressed interest in working with the crypto industry, which the crypto community sees as a good sign.
What Will the Coming Months Bring?
The next 90 days will determine whether the SEC can create an environment that is friendly to the cryptocurrency sector and establish a balanced regulatory framework that fosters innovation and trust.

#BTC☀ , #cryptoregulation , #SECCryptoRegulation , #donaldtrump , #CryptoNewss

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Court Rejects Kraken's Request for Documents
In the legal battle between cryptocurrency exchange Kraken and the U.S. Securities and Exchange Commission (SEC), the court issued a significant ruling. It denied Kraken's request to compel the production of documents related to Bitcoin (BTC), Ethereum (ETH), public SEC statements, and internal regulatory policies on digital assets.
Court Dismisses Kraken's Request for SEC Documents
Magistrate Judge Robert Illman of the California court rejected Kraken’s demand for key documents. Kraken sought evidence on why the SEC excluded Bitcoin and Ethereum from its complaint, despite these assets being traded similarly to 11 other tokens on the platform.
The court found this request “unpersuasive”, stating that it was overly broad and irrelevant to the SEC’s claims regarding the 11 tokens. Additionally, the court noted that such requests would impose an unnecessary burden on both parties.
SEC Policies and Public Statements Deemed Irrelevant
Kraken also requested access to internal SEC policies and guidance regarding digital assets, including the application of the Howey Test to tokens traded on its platform. The court ruled that such information extends beyond the scope of tokens like ADA, ALGO, ATOM, FIL, FLOW, ICP, MANA, MATIC, NEAR, OMG, and SOL, making it irrelevant to the case.
The judge stated:
“For the reasons outlined below, the defendants' motion to compel the requested information is denied.”
The court further rejected Kraken’s request for evidence related to public SEC statements about digital asset regulation. While Kraken argued that former SEC Division Director William Hinman’s remarks were relevant to the status of Bitcoin and Ethereum under federal securities laws, the court found this argument insufficiently supported.
SEC Arguments and Prior Court Rulings
Judge William Orrick previously confirmed that contracts and expectations related to sales could form an investment contract. Based on this reasoning, the court had earlier denied Kraken’s motion to dismiss the SEC lawsuit.
The SEC contended that during initial offerings and subsequent transactions on Kraken, these assets were sold as investment contracts, in violation of federal securities laws.
Ripple and SEC Appeals
As part of broader regulatory issues in the crypto industry, the SEC plans to file its principal appeal brief by January 15. Meanwhile, Ripple has countersued, criticizing the SEC’s rules and guidance as inconsistent and unclear. Ripple’s appeal focuses on defining an investment contract, institutional sales of XRP, and fair notice protections.
The Kraken vs. SEC case highlights the complexities of cryptocurrency regulation and is likely to set a precedent for future legal disputes in the industry.

#Kraken , #SECCryptoRegulation , #CryptoNewss , #digitalassets , #cryptoregulation

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ark Uyeda, Commissioner in the U.S. Securities and Exchange Commission (SEC), says it's time to stop what he calls the SEC's “war on crypto.” Uyeda, who could soon replace current SEC Chair Gary Gensler, believes that the SEC’s tough stance on crypto is unfair. He argues that the agency often takes legal action against crypto companies for not registering properly, even when there’s no fraud or harm involved. Many in the crypto world agree and have spent millions trying to fight the SEC’s strict approach.
With Donald Trump’s recent election win, the crypto industry is hoping for a shift in government policy. Trump has promised to support digital assets, even suggesting he’ll create a national Bitcoin reserve. If these changes go through, pro-crypto leaders like Uyeda or Hester Peirce might lead the SEC, possibly softening the agency’s rules and helping the crypto market grow.
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