The U.S. Securities and Exchange Commission (SEC) cryptocurrency working group held its first public meeting on Friday. The meeting focused on the application of securities laws to digital assets as the Trump administration seeks to reshape cryptocurrency regulations.
The roundtable included John Reed Stark, former head of the SEC's Internet Enforcement Office, Miles Jennings, general counsel for the cryptocurrency arm of Andreessen Horowitz, a16z, and former SEC commissioner Troy Paredes. The working group responsible for drafting rules and guidance for the cryptocurrency sector is led by Hester Peirce, the Republican commissioner at the SEC.
Peirce stated that the committee's approach to regulating cryptocurrencies is undergoing a reboot, symbolizing a new beginning. The cryptocurrency industry has repeatedly clashed with regulators over the interpretation of federal securities laws for digital assets, with many asserting that cryptocurrency tokens are more akin to commodities. If tokens are classified as securities, companies will need to register with the SEC and disclose certain information to investors.