Donald Trump’s return to power is already sending shockwaves through the crypto industry — but this time, in a good way.
After promising pro-crypto reforms during his campaign, Trump has now followed through. His administration has officially rolled back at least 14 controversial crypto rules introduced under former SEC Chair Gary Gensler — signaling what many believe is the start of a new deregulatory era for crypto in the U.S.
In a major move aligning with President Trump’s pro-crypto and deregulatory agenda, the U.S. Securities and Exchange Commission (SEC), now led by crypto-friendly Chair Paul S. Atkins, has withdrawn multiple rules that were considered harmful to digital asset innovation.
Most of these policies, introduced between March 2022 and November 2023 during Gensler’s tenure, were seen as overreaching and restrictive.
The previous Biden administration maintained a conservative and skeptical stance toward crypto. Gensler’s SEC took an aggressive regulatory approach that many in the industry labeled as hostile — targeting DeFi platforms, custodians, crypto derivatives, and more.
Trump vowed to dismantle these roadblocks. Now, he’s making good on that promise.
Here are the key rules that have been rolled back, bringing relief to the crypto industry:
Rule 3b-16 — DeFi in the Crosshairs
Qualified Custodian Rule
Cybersecurity & Risk Management Rules
Large Swap Position Reporting
ESG Reporting Mandate
Crypto leaders quickly voiced support. Coinbase Chief Legal Officer Paul Grewal cheered the move on X, posting:
“Down goes 3b-16, qualified custodian, and all the other unfinished Gensler rule proposals.”
The sentiment is shared across the crypto industry, as many view this as a turning point for regulatory clarity in the U.S.
Although these Gensler-era rules are now off the table, the SEC under Atkins may propose new, industry-friendly regulations in the future — but only after open consultation with stakeholders.
For now, the message is clear: Crypto has a seat at the table under Trump’s administration, and unnecessary barriers are being dismantled.
With Gensler’s policies getting tossed and pro-crypto voices leading the charge, this moment could mark the true beginning of America’s crypto renaissance.
Gensler’s rules were seen as overreaching and restrictive, targeting DeFi, custodians, and derivatives, which many in the crypto industry viewed as hostile and hindering innovation.
The SEC under Trump has scrapped Rule 3b-16 (DeFi), the Qualified Custodian Rule, Cybersecurity & Risk Management Rules, Large Swap Position Reporting, and ESG Reporting.
While Gensler-era rules are gone, the SEC under Atkins may propose new, industry-friendly regulations after consultation, aiming to dismantle unnecessary barriers for crypto. Sources
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