The U.S. Securities and Exchange Commission (SEC) is reconsidering its approach to regulating cryptocurrency, with Acting Chairman Mark Uyeda directing staff to review a rule proposal that would have expanded the definition of 'exchange' to include decentralized finance (DeFi) platforms. This move comes after significant public backlash against the proposal, which was initially introduced under former SEC Chair Gary Gensler. Uyeda's decision to potentially abandon the inclusion of crypto in the rulemaking process reflects a shift in the SEC's stance under the new leadership appointed by President Donald Trump. The proposal had aimed to regulate certain trading venues, including those dealing in digital assets, by classifying them as exchanges. In a related development, Congress is intensifying its scrutiny of ActBlue, a major Democratic fundraising platform. House Oversight and Accountability Committee Chairman James Comer and House Administration Committee Chairman Bryan Steil have demanded access to Suspicious Activity Reports (SARs) related to ActBlue from the Treasury Department, following concerns about potential fraud and the flow of foreign money into U.S. elections through the platform. The Biden administration had previously only allowed limited access to these reports, prompting the request to the Trump Treasury Department. The investigation has revealed hundreds of reports and concerns over ActBlue's security measures, including the lack of use of the CVV number, which might have allowed foreign nationals to make straw donations. ActBlue has since updated its donor verification policy, using Sift to reject high-risk donations, a change that occurred shortly after the introduction of the SHIELD Act on Sept. 6 by Steil. Additionally, the New York Times reported that at least seven officials have left ActBlue amid internal chaos and scrutiny from congressional Republicans.