The SEC (U.S. securities regulator) has withdrawn multiple crypto cases left over from the previous administration, Commissioner Mark Uyeda said, because continuing to defend in court legal interpretations the agency plans to overturn would damage its credibility. Uyeda said the commission is preparing a 180-degree shift in those interpretations. He also described the SEC’s innovation exemption for tokenized securities (securities represented digitally on blockchain networks) as a pilot that could create more opportunities for new market entrants and traditional financial companies.