The SEC working group met with firms supporting $TRUMP to discuss cryptocurrency regulation!
The cryptocurrency working group of the United States Securities and Exchange Commission (SEC), led by Hester Peirce, continues its outreach to the digital asset industry under the new SEC chairmanship, now held by Paul Atkins.
In a recent notice, the SEC disclosed a meeting with representatives from Ondo Finance, a cryptocurrency firm, and the law firm Davis Polk and Wardwell.
The purpose of the meeting was to discuss crucial issues such as the issuance and sale of tokenized versions of U.S. securities, compliance with financial laws, and the possible implementation of a regulatory sandbox for these digital assets.
It is noteworthy that Ondo Finance made a donation of one million dollars to Donald Trump's inauguration fund, and Davis Polk and Wardwell announced its representation of Truth Social.
This meeting adds to the SEC's efforts to engage with the cryptocurrency industry following the departure of Gary Gensler. Additionally, the working group has scheduled a roundtable event to discuss aspects related to the custody of digital assets, with participation from representatives of major companies such as Kraken, Anchorage Digital Bank, and WisdomTree.
This approach comes amid growing demand for custody services in the United States following the approval of cryptocurrency exchange-traded funds in 2024. While the SEC has indicated that it will continue to pursue fraud cases in the crypto space, it has also halted certain investigations and lawsuits against companies like Ripple, Coinbase, and Kraken, all of which have ties to supporting Donald Trump's campaign or inauguration fund.
The specific direction the SEC will take regarding regulatory compliance under the new Atkins administration is still not completely clear.