The US Securities and Exchange Commission (SEC) is mulling whether to revise or eliminate rules proposed by the previous administration, Reuters reported Monday.
Those rules would have required investment advisers who manage cryptocurrencies and other assets to adhere to stricter standards, the agency's acting head said on Monday.
Mark Uyeda, acting chairman of the regulator, also mentioned the agency is working on possible changes to a recent rule requiring mutual and exchange-traded funds to report their portfolio holdings monthly rather than quarterly.
Speaking at an investment industry conference in San Diego, Uyeda outlined plans very different from the way former President Joe Biden's administration regulated Wall Street.
According to his prepared remarks, Uyeda emphasized the need for the SEC to "prioritize effective and cost-efficient regulations that respect the limits of our statutory authority."