Acting SEC Chairman Mark Uyeda has directed SEC staff to review several existing staff statements related to the investment contract analysis of digital assets, following Executive Order 14192 'Unleashing Prosperity Through Deregulation' and recommendations from the Department of Government Efficiency (DOGE). This review is part of a broader initiative to reassess regulations in response to the executive order, which mandates the repeal of ten regulations for every new one introduced. The review includes frameworks for 'investment contracts', custody rules, and Bitcoin Futures Framework, potentially leading to a major reclassification of cryptocurrencies. This move is seen as a response to the executive order's push for deregulation across federal agencies. In a related development, federal agencies are required to submit a report on their cryptocurrency holdings, including Bitcoin, to Treasury Secretary Scott Bessent by today, as stipulated by the same executive order. This deadline marks a significant step in the government's approach to managing and disclosing its digital asset holdings.