6 February 2025
3 0
SEC’s Hester Peirce Outlines Priorities for Crypto Task Force
The SEC's crypto task force, led by Hester Peirce, is focused on several priorities to improve the regulatory landscape for cryptocurrencies. Key points include:
- Peirce criticized the SEC's previous enforcement approach as inconsistent and unclear.
- The task force aims to clarify the status of crypto assets under securities laws, which is essential for resolving numerous related questions.
- Efforts will be made to identify areas outside the SEC's jurisdiction.
- Development of a framework for custodying client assets is a priority.
- Clarity will be provided regarding crypto lending and staking programs' compliance with securities laws.
- A cross-border sandbox for crypto projects is also in consideration.
- The SEC plans to be transparent about its approach to approving or disapproving crypto ETFs, particularly concerning staking and in-kind redemptions.
- Peirce emphasized that rectifying current issues will take time.
The SEC is working towards these goals methodically, balancing legal defensibility and practicality.