The U.S. Securities and Exchange Commission (SEC) has announced the creation of a crypto task force to develop a comprehensive regulatory framework for digital assets.
Acting Chairman Mark T. Uyeda unveiled the initiative on January 21, 2025, according to an official press release. Commissioner Hester Peirce will lead the task force, with Richard Gabbert serving as Chief of Staff and Taylor Asher as Chief Policy Advisor.
The task force aims to provide clear regulatory guidelines, establish pathways for registration, and create a more predictable regulatory environment for crypto assets. This effort comes in response to criticism that the regulator’s heavy reliance on enforcement actions has caused uncertainty and stifled innovation in the sector.
Recently, Circle CEO Jeremy Allaire criticized the SEC’s Staff Accounting Bulletin 121 (SAB 121), which requires banks to classify digital assets as liabilities. Allaire argued that the rule increases capital requirements and accounting costs, discouraging broader crypto adoption by financial institutions. He labelled the measure “punitive” and called for its repeal, expressing optimism that President Donald Trump, who has positioned himself as a “crypto president,” will address the issue.
The task force will also focus on creating legal registration and disclosure frameworks while ensuring effective enforcement. It plans to collaborate with other agencies, including the Commodity Futures Trading Commission (CFTC), and engage with Congress to explore potential legislative changes.
Acting Chairman Uyeda expressed his anticipation for Commissioner Peirce’s leadership in shaping the SEC’s regulatory approach to crypto, noting that the effort will involve collaboration across multiple SEC divisions.
“I look forward to the efforts of Commissioner Peirce to lead regulatory policy on crypto, which involves multiple SEC divisions and offices,” Uyeda noted.
Commissioner Peirce echoed this commitment: “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.”
If you want to read more news articles like this, visit DeFi Planet and follow us on Twitter, LinkedIn, Facebook, Instagram, and CoinMarketCap Community.
“Take control of your crypto portfolio with MARKETS PRO, DeFi Planet’s suite of analytics tools.”
