𝗦𝗘𝗖 𝗖𝗿𝘆𝗽𝘁𝗼 2.0: 𝗔𝗰𝘁𝗶𝗻𝗴 𝗖𝗵𝗮𝗶𝗿𝗺𝗮𝗻 𝗨𝘆𝗲𝗱𝗮 𝗔𝗻𝗻𝗼𝘂𝗻𝗰𝗲𝘀 𝗙𝗼𝗿𝗺𝗮𝘁𝗶𝗼𝗻 𝗼𝗳 𝗡𝗲𝘄 𝗖𝗿𝘆𝗽𝘁𝗼 𝗧𝗮𝘀𝗸 𝗙𝗼𝗿𝗰𝗲
Today SEC Acting Chairman Mark T. Uyeda launched a crypto task force dedicated to developing a comprehensive and clear regulatory framework for crypto assets. Commissioner Hester Peirce will lead the task force.
Richard Gabbert, Senior Advisor to the Acting Chairman, and Taylor Asher, Senior Policy Advisor to the Acting Chairman, will serve as the task force’s Chief of Staff and Chief Policy Advisor, respectively.
Drawing from talented staff across the agency, the Task Force will collaborate with Commission staff and the public to set the SEC on a sensible regulatory path that respects the bounds of the law.
To date, the SEC has relied primarily on enforcement actions to regulate crypto retroactively and reactively, often adopting novel and untested legal interpretations along the way.
Clarity regarding who must register, and practical solutions for those seeking to register, have been elusive. The result has been confusion about what is legal, which creates an environment hostile to innovation and conducive to fraud. The SEC can do better.
The Task Force’s focus will be to help the Commission draw clear regulatory lines, provide realistic paths to registration, craft sensible disclosure frameworks, and deploy enforcement resources judiciously.