The SEC had previously developed a rule known as "ATS Regulation," which could affect the cryptocurrency industry. This rule, which was reopened for public comments in April, aims to broaden the definition of trading platforms and potentially require decentralized projects to register as alternative trading systems with the agency.
Miller Whitehouse-Levine, CEO of the DeFi Educational Fund, suggests that if Gensler does not implement the ATS regulation before Trump's inauguration, the rule may not be confirmed in the same way in the future. Alternatively, it could be completely discarded, depending on the SEC's priorities.