YEREVAN (CoinChapter.com) — The U.S. Securities and Exchange Commission (SEC) has launched a task force aimed at developing clear regulations for cryptocurrencies. Acting SEC Chair Mark Uyeda made the announcement on January 21, 2025, indicating a focus on regulatory clarity under the Trump administration.
SEC Crypto Task Force to Develop Clear Guidelines
The SEC’s newly established crypto task force will work on creating a comprehensive framework for the cryptocurrency industry. Commissioner Hester Peirce, known for her support of cryptocurrencies, will lead the initiative. The task force will prioritize resolving issues related to coin registration and disclosure requirements.
Furthermore, the task force will collaborate with federal agencies such as the Commodity Futures Trading Commission (CFTC), state regulators, and international counterparts. According to the SEC announcement, this collaboration aims to “establish clear regulatory boundaries” and ensure practical solutions for compliance.
Shift from Previous SEC Policies
This approach represents a departure from the SEC’s previous reliance on enforcement-driven policies. During Gary Gensler’s tenure as SEC Chair, the agency filed multiple lawsuits against crypto companies, including Coinbase and Ripple, while rejecting attempts to establish cryptocurrency exchange-traded funds. Critics of the enforcement approach argued that it created uncertainty for the industry.
Under the Trump administration, there has been a noticeable change in tone. Prior to his inauguration, President Trump introduced a meme coin, $TRUMP, while First Lady Melania Trump launched $Melania. Both tokens initially experienced value appreciation before declining.
Positive Market Response
The announcement of the task force was met with optimism in the cryptocurrency market. Bitcoin saw a 2.4% increase, reaching over $106,000. The industry views this initiative as a step towards reducing ambiguity in regulatory processes.
Public Engagement and Collaboration
The SEC intends to incorporate a wide range of perspectives in shaping the regulations. The task force will conduct public hearings and has invited stakeholders, including investors, academics, and industry leaders, to contribute their input via[email protected].
Additionally, the task force will offer technical assistance to Congress for potential updates to legislative frameworks. Richard Gabbert, Senior Advisor to the Acting Chairman, and Taylor Asher, Senior Policy Advisor, will assist Peirce in overseeing the initiative.
The SEC emphasized the importance of transparency, stating,
“We eagerly anticipate collaborating closely with the public to foster a regulatory environment that safeguards investors, facilitates capital formation, upholds market integrity, and promotes innovation.”
The task force will collaborate with the CFTC, state regulators, and international organizations to ensure consistency in their approach. This collaboration aims to reduce regulatory overlaps and enhance clarity for market participants.