The acting chairman of the SEC has instructed a review of cryptocurrency related statements to confirm whether they need to be modified or revoked

According to The Block, Mark T. Uyeda, acting chairman of the U.S. Securities and Exchange Commission (SEC), instructed the agency's staff on Saturday to review several previously released employee statements regarding the legal application of cryptocurrency investments and digital asset securities. This directive was issued in accordance with Executive Order 14192 (titled "Promoting Prosperity through Relaxing Regulation") and responded to the recommendations of the Department of Government Efficiency (DOGE). Uyeda stated that they will review these statements to determine whether they need to be "modified or revoked" to comply with the SEC's current priorities. The specific review statement includes: the 2019 guidance on whether digital assets constitute securities, which involves how to evaluate whether digital assets belong to securities through the "Howe test"; The 2021 statement on Bitcoin futures suggests that investors should be particularly cautious when investing in mutual funds involving the Bitcoin futures market, emphasizing the speculative nature, market manipulation risks, liquidity restrictions, and volatility of the market, especially in mutual funds; The Guiding Opinions on Cryptocurrency Bankruptcy in 2022 require cryptocurrency companies to transparently disclose risks related to the cryptocurrency market, emphasizing the impact on investors, including custody risk, liquidity issues, reputation damage, and regulatory review. In addition, Uyeda also instructed a review of a risk warning issued in February 2021, warning investors of the "unique risks" of digital asset trading, as well as a 2020 statement regarding Wyoming allowing state chartered trust companies to hold digital assets.