U.S. Securities and Exchange Commission (SEC) official Mark Uyeda has called for a shift in the agency’s handling of cryptocurrency regulations.

The sentiment from the commissioner, a member of the Republican party, aligns with President-elect Donald Trump’s campaign promise to halt the Biden administration’s aggressive stance towards the digital asset industry.

Pause in SEC’s Enforcement Approach

In a recent interview with Fox Business, Uyeda reiterated the need for the SEC to stop enforcement actions against non-fraud cases lodged against various crypto firms.

“The Commission’s war on crypto must end, including crypto enforcement actions solely based on a failure to register with no allegation of fraud or harm.”

In the last three years, the regulatory agency launched more than one hundred enforcement actions against crypto-related companies. The actions targeted a range of misconducts, including serious ones like fraud and money laundering, with one such case being the prosecution of former FTX CEO Sam Bankman-Fried.

However, others involved lesser infractions, including failure to comply with registration requirements. Lawsuits like those the SEC brought against Coinbase, Ripple, Kraken, and Consensys fall in this category.

Such claims were reportedly filed because SEC Chair Gary Gensler interpreted that most crypto tokens, apart from Bitcoin (BTC) and Ethereum (ETH), qualify as securities under the agency’s jurisdiction.

Experts, including lawyer Jeremy Hogan and former SEC official John Reed Stark, have suggested that if Gensler steps down before January 20, 2025, the day of Trump’s inauguration, a newly appointed head could dis