US sec Commissioner Uyeda: Several crypto lawsuits have been dropped to avoid damage to credibility

PANews reported on September 24 that according to encryption reporter Eleanor Terrett, U.S. Securities and Exchange Commission (SEC) Commissioner Mark Uyeda said that the SEC has dropped several cryptocurrency-related lawsuits taken over from the previous administration because continuing to defend those legal interpretations that are about to be overturned will "damage the credibility of the SEC." Mark Uyeda also called the SEC’s “innovation exemption” mechanism for tokenized securities a “pilot program” and believed it could create “substantial potential opportunities” for new market entrants and traditional financial institutions.