US SEC Commissioner Uyeda: Dropping Some Crypto Lawsuits to Avoid Damaging the Regulator's Credibility

Odaily reports that U.S. SEC Commissioner Mark Uyeda stated that the SEC previously dropped some lawsuits against crypto companies because regulatory policy was about to undergo a "180-degree shift," and continuing to defend in court legal interpretations that were about to be overturned could damage the SEC's credibility.

In addition, Uyeda views the SEC's recently introduced "innovation exemption" for tokenized securities as a pilot-style arrangement, believing it could create opportunities for new entrants and traditional financial institutions to explore on-chain securities trading. The exemption was approved on September 17 and is a temporary, conditional regulatory exemption.