SEC Launches Crypto Task Force to Develop Clear Regulation
In a recent announcement, the US Securities and Exchange Commission (SEC) announced the launch of a brand new crypto task force. Specifically, the agency is set to develop “a comprehensive and clear regulatory framework for crypto assets,” according to a recently released press release.
The announcement is part of the expected changes to come from the incoming administration. With Donald Trump officially inaugurated into office Monday, he announced the appointment of Mark Uyeda as acting chair of the agency. His presence comes following former Chair Gary Gensler’s resignation this week.
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SEC launches new crypto task force to develop "comprehensive and clear regulatory framework for crypto assets."
SEC Launching Crypto Task Force to Develop New Regulatory Framework
For the last several years, the SEC has developed a rather contentious relationship with the digital asset sector. Under the former Biden Administration, the agency adopted a regulation-by-enforcement approach. As a result, companies like Ripple found themselves engaged in a years-long court battle with the agency.
Yet, that has begun to change today. With Donald Trump beginning his second consecutive term as US President Monday, the SEC has announced the launch of a crypto task force dedicated to the formulation of a clear regulatory framework for which the industry will be governed.
Chairman Uyeda announced the framework, with Commissioner Hester Peirce set to lead it. “Drawing from talented staff across the agency, the Task Force will collaborate with Commission staff and the public to set the SEC on a sensible regulatory path that respects the bounds of the law,” the agency said.
Additionally, they noted things like clear regulations and a pathway to registration “have been elusive.” Moreover, they noted, “The SEC can do better.” The task force appears to be the first step in that pursuit. It could be the beginning of the United States’ path to being a global crypto leader.
