The Securities and Exchange Commission (SEC) has announced the creation of a new “crypto task force” aimed at crafting a comprehensive regulatory framework for digital assets.
In a press release on Tuesday, the SEC stated that the task force would focus on developing clear rules for the burgeoning cryptocurrency sector. The agency emphasized its commitment to establishing regulations that align with the law while fostering innovation.
Leading the initiative is SEC Commissioner Hester Peirce, often dubbed “Crypto Mom” for her supportive stance on digital assets. Peirce, who was previously considered as a potential replacement for former SEC Chair Gary Gensler during the Trump administration, highlighted the collaborative nature of the effort.
“This undertaking will take time, patience, and much hard work. It will succeed only if the task force has input from a wide range of investors, industry participants, academics, and other interested parties,” Peirce said. She added that the initiative aims to protect investors, promote market integrity, and encourage innovation in the crypto space.
The move comes amid a broader shift in the political landscape regarding cryptocurrencies. Former President Donald Trump, who once referred to crypto as a “scam,” has reversed his stance, embracing digital assets during his latest campaign. Trump became the first presidential candidate to accept cryptocurrency donations, enabling contributions through his joint fundraising committees via Coinbase Commerce.
Trump’s pro-crypto agenda extends to his nominee for SEC chair, Paul Atkins. In a recent Truth Social post, Trump praised Atkins for recognizing the importance of digital assets, calling them “crucial to Making America Greater than Ever Before.”
With the SEC’s task force now in motion, the agency aims to strike a balance between regulation and innovation in one of the fastest-evolving sectors of the economy.
