What is the SEC doing with cryptocurrencies?

REUTERS/Andrew Kelly/File Photo Purchase Licensing Rights July 5, 2023 - The United States Securities and Exchange Commission ("SEC") recently has ramped up its enforcement efforts in the crypto platform space, bringing a trio of actions against so-called unregistered national securities exchanges.

What does the SEC reopening mean for crypto trading?

The reopening is primarily intended to address the significant comments received by the SEC in response to the initial proposal, many of which questioned the proposal’s application to trading systems that enable trading of crypto asset securities.

Are crypto trading platforms 'exchanges'?

Crypto trading platforms as "exchanges" Chair Gary Gensler's and Commissioner Caroline Crenshaw's statements accompanying the reopening of the comment period make clear the SEC's position that the current definition of "exchange" applies to numerous crypto trading platforms.