Crypto Trading Regulations on the Agenda

The upcoming roundtable will be the second in the five-session series of “Spring Sprint Toward Crypto Clarity” hosted by the SEC’s Crypto Task Force, which was created in recent months. This session will focus on discussing what kind of regulatory framework should be adopted for crypto asset trading.

SEC Roundtable Participants Are Not a Surprise

The roundtable will feature executives from leading crypto companies. These include:

• Uniswap Labs Chief Legal Officer Katherine Minarik

• Coinbase Vice President of Institutional Products Gregory Tusar

• Cumberland DRW Associate General Counsel Chelsea Pizzola

What’s notable is that these three companies have previously come under the SEC’s radar. During the Biden administration, Coinbase and Cumberland DRW were sued, and in 2024, an investigation was launched into Uniswap Labs. However, under the Trump administration, these processes were dropped, and no further actions were taken.

Traditional Finance and Academia at the Table

The roundtable won’t only feature crypto companies, but also notable figures from traditional finance. These include:

• New York Stock Exchange Product Head Jon Herrick

• FalconX Business Development Lead Austin Reid

• Texture Capital CEO Richard Johnson

• University of California, Berkeley Finance Chair Prof. Christine Parlour

Additionally, investor rights advocate Dave Lauer and Healthy Markets Association CEO Tyler Gellasch will also contribute to the discussions. The session will be moderated by Nicholas Losurdo from the law firm Goodwin Procter.

SEC to Review Crypto Statements

These roundtable discussions are especially significant as the SEC, under Trump’s pro-crypto approach, has started reshaping its stance toward the crypto industry. Recent reports indicate that SEC Acting Chair Mark Uyeda has decided to review seven previous statements issued by the SEC related to crypto. Five of these directly concern crypto assets.

Among the documents to be reviewed:

• A 2019 analysis that referred to crypto sales as potential investment contracts under the Howey Test

• A 2021 warning regarding funds exposed to Bitcoin futures

• A 2020 feedback request on whether state-chartered banks meet standards to be qualified custodians

• A late 2022 call for companies to disclose if bankruptcies or collapses of crypto firms impacted their business

• A 2021 examination note highlighting risks related to digital asset trading and sales

Uyeda emphasized that these statements will be re-evaluated in line with Trump’s deregulatory executive orders and recommendations from the Department of Government Efficiency (DOGE), led by Elon Musk.

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This move aligns with the Trump administration’s shift in crypto regulation, following similar case dismissals for Coinbase, Robinhood, Uniswap Labs, and OpenSea.

SEC Ends Investigation Into Web3 Gaming Platform Immutable

Immutable, an Ethereum-based gaming platform, also saw its SEC probe closed after a five-month investigation into its IMX token. No enforcement action was taken.

A Shift in SEC’s Crypto Policy

After dropping its Coinbase case, SEC acting chairman Mark T. Uyeda stated that these dismissals reflect the agency’s ongoing efforts to rectify its approach and create more transparent crypto policies.

You Might Be Interested In: Elon Musk Talks About the Name of a New Memecoin!

However, SEC clarified that these dismissals do not set a precedent for other cases.

Kraken welcomed the decision, calling it “the end of a wasteful, politically motivated campaign,” and hinted at potential IPO plans, making it the second publicly listed crypto company after Coinbase.

The SEC crypto task force announced four new roundtable discussions on digital asset regulations, set to run between April and June 2025. Task force leader Hester Peirce emphasized the importance of industry expert discussions in shaping policy.

SEC Charges Against Kraken, ConsenSys, Cumberland DRW, and Crypto.com

• Kraken was sued in November 2023 for operating as an unregistered securities exchange, broker, and clearing agency.
• ConsenSys faced legal action in June 2024 over its MetaMask Staking service, allegedly offering unregistered securities.
• Cumberland DRW, a Chicago-based trading firm, was accused in October 2024 of acting as an unregistered dealer, handling over $2 billion in crypto assets.
• Crypto.com was also cleared of any wrongdoing as SEC officially closed its investigation.

Under acting chairman Uyeda, SEC has taken a more collaborative approach, signaling a departure from strict enforcement policies.

You can also freely share your thoughts and comments about the topic in the comment section. Additionally, don’t forget to follow us on our Telegram, YouTube, and Twitter channels for the latest news and updates.

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