Uyeda Forms SEC Crypto Task Force, Promises Clear Regulatory Framework – Brave New Coin
In a significant move indicating a shift in federal oversight of the digital asset market, the Securities and Exchange Commission (SEC) has announced the establishment of a new crypto task force aimed at developing a comprehensive and clear regulatory framework for crypto assets.
The initiative, revealed by Acting SEC Chairman Mark T. Uyeda on Tuesday, marks the beginning of what some are calling “SEC 2.0,” a more collaborative and transparent approach to cryptocurrency regulation.
Under this new plan, pro-crypto SEC Commissioner Hester Peirce will lead the task force, leveraging expertise from various parts of the agency. Senior Advisor to the Acting Chairman Richard Gabbert and Senior Policy Advisor Taylor Asher have been appointed as chief of staff and chief policy advisor, respectively.
The team’s objective is to set the SEC on a sensible regulatory path that adheres to legal boundaries, as stated in the official announcement. The announcement also acknowledges a history of relying on enforcement actions that have left the crypto community unsure about compliance.
The SEC has entered a new pro-crypto era. Source: Official SEC Statement
Clarity in Regulatory Framework
“The SEC can do better,” the statement emphasizes, highlighting the necessity to establish realistic pathways to registration and create practical disclosure requirements for digital assets.
Peirce reiterated the sentiment, describing the process as “an undertaking that will take time, patience, and much hard work.” She underscored the importance of gathering input from a wide range of stakeholders to ensure that the new rules protect investors and promote responsible innovation.
This task force emerges following former SEC Chair Gary Gensler’s departure and Acting Chair Uyeda’s temporary appointment by President Donald Trump. While Uyeda is expected to guide the agency in the interim, the White House has nominated former SEC commissioner Paul Atkins to assume the permanent SEC chair position, subject to Senate confirmation. Both Uyeda and Peirce have been identified as Republican commissioners generally opposed to strict “regulation-by-enforcement” tactics, indicating a potential departure from the Biden-era crackdown on digital assets under Gensler.
Trump Administration Crypto Policies
The Trump administration, which has shown a more favorable stance towards cryptocurrencies, aims to end what it perceives as broad crackdowns in the sector. Critics argue that many past actions stifled innovation and caused confusion among investors. The goal of the new initiative is to clarify which crypto assets must register as securities and streamline the registration process for projects.
“This endeavor will only succeed if the Task Force receives input from a wide range of stakeholders,” Peirce reiterated. The statement suggests that the SEC will collaborate with federal departments and agencies, including the Commodity Futures Trading Commission, as well as state and international counterparts. Public hearings and collaboration with the broader crypto community are anticipated as the task force commences its work.
Now, we eagerly await the anticipated announcement of a Strategic Bitcoin Reserve.
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