Key Takeaways
- In addition to working within the SEC, the task force will collaborate with the CFTC, and state and international regulators.
- The task force will be led by SEC Commissioner Hester Peirce, known for her pro-crypto stance
The U.S. Securities and Exchange Commission (SEC) announced the creation of a new crypto task force on January 21, 2025, just one day after former Chair Gary Gensler’s resignation. Acting SEC Chair Mark Uyeda outlined the task force’s mission to develop a comprehensive regulatory framework for digital assets, a move that comes amid ongoing debate and scrutiny over how crypto should be governed.
The task force will be led by SEC Commissioner Hester Peirce, known for her pro-crypto stance, earning her the nickname “Crypto Mom.” Peirce has long been an advocate for a more favorable regulatory environment for the crypto industry, and her leadership of the new task force signals a shift toward clearer guidelines for the sector. Joining Peirce on the task force will be Richard Gabbert as chief of staff and Taylor Asher as chief policy adviser.
“The task force will help the Commission draw clear regulatory lines, provide realistic paths to registration, craft sensible disclosure frameworks, and deploy enforcement resources judiciously,” the SEC stated in a press release. The SEC emphasized that the task force would engage with stakeholders across the crypto industry, including investors, crypto firms, academics, and regulators, to gather insights that would inform its work. The group also plans to hold public hearings and roundtable discussions to ensure broad input.
In addition to working within the SEC, the task force will collaborate with other federal agencies, such as the Commodity Futures Trading Commission (CFTC), and state and international regulators to help develop unified approach to crypto regulation
This announcement comes at a pivotal moment for the SEC and the broader crypto industry as the crypto-friendly Trump administration takes charge in the United States.. Under Gensler’s leadership, the SEC focused heavily on enforcement actions, accusing crypto firms of operating unregistered securities. The SEC’s regulatory approach, particularly its reliance on enforcement rather than proactive rule-making, has faced criticism from industry participants.
The new task force will focus on several objectives, including providing clearer guidelines for crypto registration, developing disclosure frameworks for crypto companies, and ensuring effective deployment of enforcement resources. The SEC also expressed its intention to work closely with Congress to provide technical assistance as it crafts new legislation around digital assets.
Industry stakeholders have welcomed the news of the task force, with many hoping that it will bring more clarity to the regulatory landscape. Bitcoin’s price surged by 2.4% to over $106,000 following the announcement, reflecting the optimism within the $3.7 trillion crypto industry.
