Acting SEC Chairman Mark Uyeda yesterday announced the formation of a new task force to develop “a comprehensive and clear regulatory framework” for crypto assets. SEC Commissioner Hester Peirce will lead the task force.
President Trump has pledged to adopt a more friendly posture to the digital asset industry than that of the Biden administration, which worried the sector presented a financial stability risk and serves as a vector for money laundering and other illegal activity. In a statement, the SEC said that in the past, it has relied primarily on enforcement actions “to regulate crypto retroactively and reactively, often adopting novel and untested legal interpretations along the way.”
The focus of the new group will be to help the SEC “draw clear regulatory lines, provide realistic paths to registration, craft sensible disclosure frameworks, and deploy enforcement resources judiciously,” according to the SEC.
The task force anticipates it will hold public roundtables in the future. Public input can be submitted to [email protected].
