Republican committee members: The U.S. SEC should consider proposing regulatory rules for cryptocurrencies

ChainCatcher news, according to The Block, Republican Commissioner Mark Uyeda stated that the U.S. Securities and Exchange Commission needs to consider proposing rules or guidelines to regulate cryptocurrencies, rather than taking a more enforcement-like approach.

Uyeda stated in his remarks: "Unfortunately, the U.S. Securities and Exchange Commission has not taken this approach, but rather has handled cases on a case-by-case basis through enforcement actions. As a result, reaching any type of legally binding precedent takes years, as these issues need to be resolved through the courts before reaching the appellate court."