SEC’s Crypto Task Force to Address 10 Key Regulatory Priorities
The U.S. Securities and Exchange Commission (SEC) has established a Crypto Task Force aimed at providing regulatory clarity for the crypto industry. Key points include:
- The task force, led by Commissioner Hester Peirce, focuses on defining the distinction between cryptocurrencies as securities or commodities.
- It aims to create a viable registration path for crypto entities by modifying existing SEC processes.
- Clarification will be provided on whether crypto-lending and staking programs fall under securities laws.
- The SEC will identify which market segments are outside its jurisdiction.
The formation of this task force follows the resignation of former Chair Gary Gensler, whose enforcement-heavy approach was criticized. Two days after the task force's creation, the SEC rescinded the contentious Staff Accounting Bulletin 121, seen as a significant step forward.
Peirce acknowledged challenges stemming from Gensler’s legacy, including ongoing litigation and proposed rules. She emphasized that investor protection remains a core objective while the task force develops a new regulatory framework.