#ultimahora The SEC is considering withdrawing the requirement that crypto companies register as securities brokers

The interim chairman of the SEC, Mark Uyeda, has asked SEC staff to abandon a rule change that would expand the definition of alternative trading systems to include cryptocurrencies.

A proposed rule change that would require some crypto companies to register as brokers could be abandoned under a new directive from the interim chairman of the U.S. Securities and Exchange Commission.

During a speech on March 10 at the Washington Conference of the International Bankers Institute, the interim chairman of the SEC, Mark Uyeda, said he had "asked SEC staff for options to abandon" part of the proposed changes that would expand the regulation of alternative trading systems (ATS) to include crypto companies.

"In light of the significant negative public comments received regarding the definition of exchange as it relates to cryptocurrencies, I have asked SEC staff for options to abandon that part of the proposal," he said.

"In my opinion, it was a mistake for the commission to link the regulation of Treasury markets with an excessive attempt to rein in the cryptocurrency market."