🔥 A revolution in cryptocurrency regulation: SEC announces the repeal of Gensler's rules!
In a resounding slap against strict rules and rigidity imposed by stringent standards during Gary Gensler's era, the U.S. Securities and Exchange Commission (SEC) led by Paul Atkins announced the withdrawal of more than 14 regulatory drafts including:
Rule 3b-16: That rule which would redefine any trading platform – including DeFi protocols, developers, and chat groups – as a regulatory unit, threatening innovation freedom in the decentralized community.
Qualified Custodian Rule: This would force financial advisors to keep client assets only with certified service providers, thus threatening the activity of most currently operating cryptocurrency platforms.
And the repeal extended to include: cybersecurity management rules, environmental and social disclosures (ESG), and derivatives reporting among others.
🙌 Celebrating the Victory of Digital Freedoms: Coinbase takes the lead
Coinbase and its legal expert Paul Grewal made a warm reception on platform X:
"Down goes 3b16, qualified custodian, and all the other unfinished Gensler rule proposals"
In a clear response to their procedural amendment to DeFi, Grewal expressed his strong belief that this step represents a "victory for innovation and decentralized technology."
🚀 What does this mean? Blessings ignite in the meme coin market, and PEPE benefits!
**SEC acknowledged that most meme coins are not securities!**
Where it announced that meme coins are bought for entertainment, communication, and speculation, not as regular investment projects. Thus, they are treated like souvenirs or collectibles, not as securities.
PEPE Coin 🔥 is considered one of the most popular meme coins, and it enjoys support within this new regulatory climate. It can be considered outside strict regulation as long as it is not marketed as a regular investment.
💬 Prominent Opinions:
Influencers and their opinions and statements
Elon Musk: Described meme coins as "like a casino" and the "greater fool theory," criticizing those who bet heavily on them:
"Don’t bet the farm on a meme coin."
Hester Peirce ("Crypto Mom") praised the SEC's shift towards a clear regulatory framework instead of resorting to intensive enforcement, and called for maintaining investor protection without stifling innovation.
Mark Uyeda (acting SEC chair) confirmed that the time has come to establish clear regulations instead of relying on litigation.
🎯 The Blazing Summary:
✅ SEC reduced its control… held on to innovation, boosted confidence, and restored balance to the market.
🚀 PEPE and other meme coins received a strong boost, as they are treated as "just collectibles," away from tightened rules.
💡 Maintaining Balance: Although the meme sector is out of regulatory grip, preventing fraud and manipulation remains a priority.
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