The U.S. Securities and Exchange Commission (SEC) announced the formation of a new cryptocurrency task force dedicated to developing a comprehensive and clear regulatory framework for crypto assets.
Acting SEC Chairman Mark T. Uyeda appointed Commissioner Hester Peirce to lead the task force. Richard Gabbert, Senior Advisor to the Acting Chairman, and Taylor Asher, Senior Policy Advisor to the Acting Chairman, will serve as the task force’s Chief of Staff and Chief Policy Advisor, respectively.
The task force’s primary objectives include:
- Assisting the SEC in defining clear regulatory boundaries for crypto assets.
- Providing realistic pathways for crypto entities to register with the SEC.
- Crafting sensible disclosure frameworks to ensure transparency and protect investors.
- Deploying enforcement resources judiciously to address violations effectively.
This initiative aligns with the recent shift in the SEC’s leadership under President Donald Trump, who has appointed crypto-friendly officials such as Paul Atkins as SEC Chair. The new leadership aims to review and potentially roll back previous enforcement actions, seeking industry feedback to clarify the regulatory status of cryptocurrencies and support the crypto industry’s growth.
The establishment of the task force has been positively received by the cryptocurrency community, which anticipates an end to the regulatory “harassment” experienced under the previous administration. Investors believe that easing restrictions will allow banks to engage with crypto companies, fostering a resurgence of crypto startups in the U.S.
