The SEC launches a crypto task force led by Hester Peirce to create clear cryptocurrency regulations, replacing enforcement actions with innovation-friendly policies.
Crypto Task Force, Initiative Aims to Replace Reactive Enforcement with Proactive Regulation
The U.S. Securities and Exchange Commission (SEC) has announced the formation of a crypto task force to develop a comprehensive and clear regulatory framework for digital assets. Acting SEC Chairman Mark T. Uyeda revealed the initiative on Monday, signaling a shift from the agency’s reliance on enforcement actions to a more structured approach.
Commissioner Hester Peirce, known as “Crypto Mom” for her support of cryptocurrency innovation, will lead the task force, supported by Senior Advisors Richard Gabbert and Taylor Asher.
Addressing Regulatory Gaps in Cryptocurrency
In a statement, the SEC acknowledged the shortcomings of its previous approach, which relied heavily on enforcement actions.
“The SEC can do better,” the agency admitted, noting that its past methods created legal confusion and hindered innovation while enabling fraud. Commissioner Peirce emphasized the need for broad collaboration to achieve the task force’s goals.
A Collaborative Effort
The task force plans to clarify registration processes, enhance disclosure standards, and streamline enforcement. It will also engage with Congress, federal agencies, and international regulators to build a cohesive regulatory environment.
Ripple’s Chief Legal Officer Stuart Alderoty expressed optimism about the initiative on social media, stating:
The SEC’s war on crypto created ‘confusion about what is legal’ and ‘an environment hostile to innovation and conducive to fraud.’ Looking forward to working with the Crypto Task Force.
Commissioner Peirce encouraged input from investors, industry participants, academics, and other stakeholders.
This effort will succeed only with collaboration, Peirce said. We aim to foster a regulatory environment that protects investors, facilitates capital formation, and supports innovation.
The SEC invites public feedback on the initiative as it works toward a more transparent and effective regulatory framework.
