Key Takeaways
- The TDC has called for the incoming SEC leadership to make sweeping U-turns on anti-crypto policies and enforcement actions.
- The group has urged for spot Solana, Ripple, and other altcoin ETFs to be approved and token staking to be enabled.
- It urges digital assets to be classified under clearer rules or a better standard than the Howey Test.
The Digital Chamber of Commerce’s (TDC) crypto advocacy group, the Token Alliance, is calling on the incoming Securities and Exchange Commission (SEC) leadership to end its enforcement-only approach to crypto regulations, which includes reviewing all crypto-related investigations.
A New Era for U.S. Crypto
According to the TDC update, Trump’s appointment as president has created an opportunity for the U.S. to “reset its historically troubled relationship” with the world’s digital asset industry.
The aim? To usher in a new era of “well-reasoned regulation,” clarity, and “foster a culture of mutual trust.”
Praising Trump’s nomination of Paul Atkins as SEC Chair, the pro-crypto group notes that if appointed, he would join sitting SEC Commissioners “crypto mom” Hester Pierce and Mark Uyeda, who have both been critical of the SEC’s enforcement actions on crypto.
30 to 90 Days
Within the first 30 days, the TDC called for “an immediate review” of all investigations, Wells notices, and litigation cases.
This includes bringing an end to all cases that don’t involve fraud or immediate harm.
This also includes finalizing the definition of “when a digital asset implicates the securities law,” which should be assessed under tests “more precise” than the current standard, the Howey Test.
Another “critical” change is the to pull back SAB-121, a controversial rule imposed by the SEC in 2022 that restricts traditional financial services for crypto companies.
This also includes amendments to rule 3b-16, which could have major implications for decentralized finance (DeFi) as it would expand the “exchange” definition to DeFi.
One of the notable “30 to 90-day” aspirations is to have additional spot crypto exchange-traded fund (ETF) applications approved for Ripple (XRP), Solana (SOL), and others.
This also includes allowing ETF issuers to stake tokens, which had been ruled out for Ethereum ETFs.
Eddie is a gaming and crypto writer at CCN. Covering the often weird and wonderful world of Web3 with an adoring, but skeptical eye.
Prior to CCN, Eddie has spent the past seven years working his way through the crypto, finance, and technology industry. He began with PR and journalism with Bitcoin PR Buzz and BitcoinNews.com, eventually working his way to become a copywriter with a dozen firms, including the likes of Polkadot before returning to journalism in 2023.
Having studied Radio production and journalism at University in the UK, Eddie spent a few years making podcasts and presenting on a local London radio station as he built up his writing chops.
A lifelong skateboarder, Eddie can often be found at the skatepark or touring the streets looking for something new to try. That, or kicking back playing JRPGs on his original PSP.
