The United States Securities and Exchange Commission (SEC) is expected to shift its approach to cryptocurrency regulation after President-elect Donald Trump’s inauguration.

Republican SEC commissioners Hester Peirce and Mark Uyeda are drafting guidelines to clarify when cryptocurrencies qualify as securities.

The commissioners may also review ongoing enforcement cases, potentially halting litigation and reopening settlements.

This follows years of strict enforcement under SEC Chair Gary Gensler, who pursued 83 crypto-related actions, with Gensler will step down on January 20.

Paul Atkins, Trump’s SEC chair nominee, is expected to adopt a more lenient stance on cryptocurrencies, pending Senate confirmation.