The US Securities and Exchange Commission (SEC) has announced the launch of a “crypto task force” aimed at developing a comprehensive and clear regulatory framework for cryptocurrency assets. Led by SEC Commissioner Hester Peirce, the task force will work to develop a set of rules addressing registration issues and foster innovation.
In a move that marks a significant shift from previous administrations, the new task force aims to protect investors while facilitating capital formation and market integrity. The initiative is in response to the growing confusion among industry stakeholders regarding what is legal under current regulations.
The announcement comes after former President Donald Trump promised a crypto-friendly administration during his presidential campaign. However, it’s worth noting that his successor, Joe Biden, had taken a tougher stance on cryptocurrency with then-SEC Chair Gary Gensler, who was seen as an enemy of the industry.
Under Peirce’s leadership, the task force will hold public hearings and solicit input from industry participants, academics, and other stakeholders. The initiative is expected to take time and effort but aims to provide clarity for investors and foster innovation in the crypto space.
The launch of the task force comes as Bitcoin prices surged by 2.4% following the announcement, reaching over $106,000.
Source: https://www.cnbc.com/2025/01/21/trumps-sec-launching-crypto-task-force-to-develop-clear-regulations-for-industry.html