SEC Commissioner Mark Uyeda advocates establishing safe harbor and regulatory sandbox to promote cryptocurrency innovation

PANews, November 24th - According to Crypto Briefing, Mark Uyeda, a commissioner of the U.S. SEC, advocated the establishment of safe harbors and regulatory sandboxes to promote cryptocurrency innovation in an interview. Uyeda, a potential candidate for the chairman of the U.S. SEC under the Trump administration, emphasized the need to end the so-called ‘cryptocurrency war’ and establish clearer regulatory guidelines. Uyeda stated, ‘Many encryption assets are not securities, but they are labeled as such.’ He emphasized the importance of cooperation between Congress, the White House, and regulatory agencies in establishing a comprehensive framework for the industry. Uyeda pointed out that the next chairman needs to address regulatory challenges from multiple administrative agencies. Earlier, there were reports that a lawyer suggested that Mark Uyeda, a member of the US SEC, is very likely to become the next chairman of the agency.