Is the SEC Quietly Slipping Behind the Scenes, Delaying Compliance to Rig the Game?
Uyeda signaled publicly in remarks delivered in March that a strategy of deregulation by delay was on the table for the SEC. He mentioned that he would prefer to see the agency “act like a super-sized freighter, not a speed boat” in future rulemaking to promote a more stable regulatory environment.
With federal activity essentially on pause, could state agencies step in to fill the void? Attorneys at the law firm Katten make that case in a new article, which pointed out that in states like New York and Pennsylvania, the attorneys general are making moves to enforce cryptocurrency laws. Additionally, the analysis singled out some states that are banding together to take over functions of the Consumer Financial Protection Bureau, which some observers argue has been significantly weakened under the current administration.
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