The Securities and Exchange Commission (SEC) today announced the formation of a new task force dedicated to developing a comprehensive and clear regulatory framework for crypto assets. The announcement, made by SEC Acting Chairman Mark T. Uyeda, signals a potential shift in the agency’s approach to cryptocurrency regulation.
The task force will be led by Commissioner Hester Peirce, a known advocate for regulatory clarity in the crypto space. Richard Gabbert, Senior Advisor to the Acting Chairman, will serve as Chief of Staff, and Taylor Asher, Senior Policy Advisor to the Acting Chairman, will act as Chief Policy Advisor.
The task force will draw on talent from across the SEC and collaborate with both internal staff and the public to establish a “sensible regulatory path” that respects existing legal boundaries. Acting Chairman Uyeda acknowledged that the SEC’s reliance on enforcement actions and novel legal interpretations has created confusion and a hostile environment for innovation. The new task force aims to address this by providing clear regulatory guidelines, realistic registration pathways, sensible disclosure frameworks, and judicious deployment of enforcement resources.
The task force will operate within the existing Congressional statutory framework and will provide technical assistance to Congress as it considers changes to that framework. Collaboration with other federal departments and agencies, including the Commodity Futures Trading Commission (CFTC), as well as state and international counterparts, will be a key component of the task force’s work.
“I look forward to the efforts of Commissioner Peirce to lead regulatory policy on crypto, which involves multiple SEC divisions and offices,” said Acting Chairman Uyeda.
Commissioner Peirce emphasized the collaborative nature of the undertaking: “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. 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.”
