The U.S. Securities and Exchange Commission (SEC) has unveiled a proposal that could significantly change the landscape of financial reporting for public companies by allowing them to opt for semiannual earnings reports instead of the traditional quarterly disclosures. This move, which is backed by former President Trump and aims to ease the reporting burden on companies, may negatively impact investor protection as it reduces the frequency of financial disclosures. The proposal has sparked a mixed reaction, with some industry leaders supporting the change under certain conditions. As the SEC advances this initiative following White House review, it could lead to financial transparency issues particularly affecting millions of investors and the evolving crypto market.