SEC Commissioner Uyeda: Dropping Multiple Crypto Cases to Avoid Damaging SEC Credibility

Odaily News: A Fox Business crypto reporter posted on X platform that SEC Commissioner Mark Uyeda stated the SEC has dropped multiple crypto cases left over from the previous administration, because continuing to defend legal interpretations in court that are poised to be overturned would damage the SEC's credibility.

Uyeda said the Commission is preparing to make a "180-degree reversal" on the relevant interpretations. He also stated that the SEC's innovation exemption for tokenized securities is a "pilot program" that could create more opportunities for new entrants and traditional financial firms.