Uyeda Suggests Temporary Crypto Regulations at SEC’s Second Roundtable

Highlights:

• Acting SEC Chair calls for federal framework to support blockchain innovation in U.S.
• The debate continues over the SEC’s jurisdiction in regulating decentralized platforms like Uniswap.
• The temporary crypto relief proposal aims to simplify regulations while a long-term framework develops.

The U.S. Securities and Exchange Commission’s Crypto Task Force hosted its second crypto roundtable, titled “Between a Block and a Hard Place: Tailoring Regulation for Crypto Trading,” at the Washington headquarters on Friday. Acting Chair Mark Uyeda led the session alongside Commissioners Caroline Crenshaw and Hester Peirce. The event gathered key figures from both traditional finance and crypto to explore practical ways to integrate blockchain into existing markets.

Acting Chairman Mark Uyeda's remarks at the Crypto Task Force Roundtable: https://t.co/DpjW8JRnhg pic.twitter.com/LWlC2hYlh2

— U.S. Securities and Exchange Commission (@SECGov) April 11, 2025

Uyeda Calls for Temporary Crypto Relief and Clear Federal Framework

At the April 11 session, Uyeda expressed concern over inconsistent state-level crypto laws creating regulatory confusion. He called temporary rules a possible short-term fix as the SEC builds a long-term plan.

A clear federal framework, he said, would let firms offer tokenized assets under one SEC license instead of dealing with 50 separate state laws. This, he added, would support blockchain innovation in the U.S. while permanent regulations are still being developed.  He asked crypto firms to share where temporary relief could help.

Uyeda added:

“I encourage market participants that are developing new ways to trade securities using blockchain technology to provide input on where exemptive relief may be appropriate.”

Uyeda emphasized the advantages of blockchain in financial markets during the roundtable. He highlighted that blockchain could make securities transactions more efficient and reliable compared to current methods. Uyeda also mentioned that blockchain can help manage and move collateral in tokenized form, improving capital efficiency and liquidity. 

Uyeda will remain acting SEC chair until Paul Atkins, nominated by President Trump, is sworn in. On April 10, the Senate confirmed Atkins as SEC chair with a 52-44 vote.

I'm pleased Paul Atkins is confirmed as Chairman of the SEC. I sat down w/ Mr. Atkins to discuss digital asset legislation, empowering Wyoming’s blockchain future & implementing reforms to the regulatory rulemaking process. I'm confident his leadership will bring positive change. pic.twitter.com/1cpGrNjSrg

— Senator Cynthia Lummis (@SenLummis) April 9, 2025

Debate Over SEC’s Role in Crypto Regulation

At roundtable, panelists also debated which areas of the crypto industry should fall under the SEC’s jurisdiction. Uniswap Labs’s Chief Legal Officer, Katherine Minarik, argued that peer-to-peer transactions should not be regulated by the SEC. She explained that decentralized platforms don’t carry the same risks as intermediaries. “Many of those risks substantially or entirely disappear when, for example, a participant in a transaction retains custody or control of their own assets,” Minarik said. 

Moreover, Dave Lauer, co-founder of Urvin Finance, highlighted the confusion over whether the SEC or CFTC should regulate crypto. He said this ongoing dispute has harmed investors.

The SEC’s crypto task force, created under Hester Peirce, showed growing support for a friendlier crypto regulatory approach. New SEC Chair Paul Atkins is expected to focus on clear digital asset rules. However, Commissioner Caroline Crenshaw raised concerns about crypto platforms handling multiple roles, warning of risks that have caused market disruptions.

Looking ahead, market observers will be watching to see if the temporary relief framework leads to a stable, innovation-friendly long-term regulation.