Wu Says Learns That, according to encrypted reporter Eleanor Terrett, SEC Commissioner Mark Uyeda said the SEC has withdrawn some crypto cases carried over from the previous administration because, while preparing to make a 180-degree adjustment to the relevant legal interpretation, it continued to defend the original interpretation in court, which would undermine the SEC’s credibility. Uyeda also described the SEC’s Innovation Exemption for tokenized securities as a “pilot,” believing it could provide participation opportunities for new entrants as well as traditional financial institutions. The SEC previously approved on September 17 the temporary, conditional exemption, allowing qualifying platforms to partially trade tokenized U.S. stocks through licensed AMMs and liquidity pool transactions.