The SEC set a new comment deadline of June 13, 2023 for a proposal that would amend the statutory definition of "exchange" to include trading systems that facilitate the trading of crypto asset securities.
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The SEC reopened the comment period for a proposal that would amend the statutory definition of "exchange" to include trading systems that facilitate the trading of crypto asset securities.
The SEC reopened the comment periods for proposals to (i) expand the scope of Regulation ATS and (ii) expand regulation of private fund advisers. As outlined in a notice in the Federal Register, comments for both proposals are now due by June 13, 2022.
The SEC proposed to (i) expand the definition of "exchange" under SEA Rule 3b-16 to include systems that only display "trading interest" (as opposed to "orders") including by use of "communication protocols"; and (ii) remove the exemption that Regulation ATS currently provides to systems that trade only government securities.
SEC Commissioner Elad L. Roisman urged financial regulators to consider the benefits of applying certain elements of current oversight of the equity markets to the market for U.S. government securities.