SEC Establishes Task Force Specialized in Crypto

After taking over the SEC, Mark Uyeda has announced plans to establish a dedicated task force for cryptocurrency.

Sec Establishes Task Force Specialized In Crypto

The U.S. Securities and Exchange Commission (SEC), under the new leadership of Acting Chairman Mark Uyeda, announced the establishment of a Special Task Force on Cryptocurrency on January 21, 2025, marking a significant shift in its approach to regulating the digital asset market.

SEC Establishes Task Force Specialized in Crypto
SEC Establishes Task Force Specialized in Crypto

According to the official announcement, Commissioner Hester Peirce—known for her open stance on cryptocurrencies and frequent opposition to the enforcement-heavy measures under Gary Gensler—will lead this task force.

To date, the SEC has relied solely on enforcement actions to regulate crypto in a reactive manner, utilizing novel and untested arguments. The Commission has yet to issue clear rules about who must register and how they should register with the SEC. This approach has resulted in widespread misunderstanding of the industry’s legality, hindered progress, and inadvertently facilitated fraud. The SEC can do better.

Excerpt from the Commission’s statement

The Special Task Force will focus on developing a comprehensive regulatory framework to enable crypto businesses to operate transparently and efficiently. It will also closely collaborate with Congress and other agencies, particularly the Commodity Futures Trading Commission (CFTC), to ensure regulatory consistency.

Commenting on the plan, Commissioner Hester Peirce emphasized:

This transition process will require time, patience, and significant effort. It will only succeed if we gather a substantial amount of feedback from investors, market participants, researchers, and other stakeholders. We will work alongside the public to create a regulatory environment that protects investors, supports capital formation, oversees markets, and fosters innovation.

This initiative represents a dramatic policy shift for the SEC, significantly different from the approach under former Chairman Gary Gensler, who often used traditional securities regulations to penalize major crypto companies in the U.S.

Related: Mark Uyeda Appointed as SEC Chairman

Observers believe that the SEC’s new initiative could usher in a new era of growth for the cryptocurrency industry in the U.S., offering a clear regulatory framework and a more favorable business environment.

(3 votes)

3.7/5

(3 votes)

Latest

Will Dogecoin Be Part Of Elon Musk’s X App Trading Platform In 2025

News | Editor Choice | Memecoin

Will Dogecoin Be Part of Elon Musk’s X App Trading Platform in 2025?

The future of Dogecoin on Elon Musk’s X App trading platform remains a big question, as the leaked roadmap does not mention the cryptocurrency despite rising expectations from the community.

Sharplink Gaming Continues To Accumulate 7,689 Eth

Editor Choice | Altcoin

SharpLink Gaming Continues to Accumulate 7,689 ETH

SharpLink Gaming has increased its treasury to 205,634 ETH after purchasing an additional 7,689 ETH over the past week.

Tesseract Ceo Predicts $6,500 Ethereum By Year End

News | Altcoin | Editor Choice

Tesseract CEO Predicts $6,500 Ethereum by Year-End

Ethereum's price could surge by up to 160% by the end of 2025, according to a bold prediction from the Tesseract CEO, driven by growing staking activity, institutional inflows, and expectations around network upgrades.

Why Is Xrp Still Stuck

News | Altcoin | Editor Choice

Why Is XRP Still Stuck?

Despite its technological potential, XRP's price remains stagnant as analysts point to Ripple’s centralized control and lack of transparency as key factors hindering its growth.

Thanks To Bitcoin, Metaplanet Surpasses Toyota And Sony In Trading Volume

Bitcoin | Editor Choice

Thanks to Bitcoin, MetaPlanet Surpasses Toyota and Sony in Trading Volume

MetaPlanet's stock in Japan is leading in trading volume, attributed to the company's leadership in the digital asset trend.