SEC establishes new crypto task force to enhance regulatory clarity

The U.S. Securities and Exchange Commission (SEC) has announced the formation of a new crypto task force aimed at developing a comprehensive regulatory framework for digital assets.

Commissioner Hester Peirce will lead this initiative, which reflects a shift towards proactive policymaking in the cryptocurrency sector.

Acting SEC Chairman Mark Uyeda stated that the task force is designed to address long-standing ambiguities regarding the regulatory treatment of cryptocurrencies.

In his announcement, Uyeda emphasised the need for clear registration requirements and disclosure frameworks for crypto entities, noting that the SEC has relied heavily on enforcement actions in the past.

“Clarity regarding who must register, and practical solutions for those seeking to register, have been elusive,” he remarked, highlighting the confusion that has often hindered innovation in the sector.

The task force will collaborate with various stakeholders, including investors, industry participants, and global regulatory counterparts, to ensure a harmonised approach to regulation.

Peirce, known as ‘Crypto Mom’ for her advocacy of digital assets, expressed optimism about the task force's potential impact on fostering an environment that balances investor protection with market integrity.

“We look forward to working hand-in-hand with the public to foster a regulatory environment that protects investors, facilitates capital formation, fosters market integrity, and supports innovation,” she stated.

This move comes at a time when the crypto community is seeking clearer guidelines following previous regulatory uncertainty under former SEC Chair Gary Gensler.

The task force's work is expected to influence not only U.S. regulations but also set benchmarks for other jurisdictions looking to develop their own frameworks for digital assets.