Odaily reports that the SEC is re-examining a proposal regarding the definition of "exchange", exploring whether to adjust the definition to exclude entities or companies involved in cryptocurrency trading. This marks another adjustment in the SEC's cryptocurrency asset regulatory strategy. SEC Acting Chair Mark Uyeda stated at the International Bankers Association's annual Washington conference that the regulator is considering expanding the "exchange" definition to include **"communication protocols"**, but did not reveal specific details. He emphasized that linking the government bond market regulatory framework to the cryptocurrency industry is a mistake, and has asked SEC staff to assess whether parts of the proposal should be abandoned. If the "communication protocols" portion is ultimately removed, protocols providing cryptocurrency services or solutions may be excluded from regulation. Uyeda's stance is consistent with the previous views of Coinbase's Chief Legal Officer, Paul Grewal, who warned in 2022 that the SEC's proposed regulatory framework could have far-reaching implications for .