SEC Announces a Crypto Task Force

On Tuesday, the Trump administration took steps towards making it easier for cryptocurrency to thrive by launching a “crypto task force.”

This move was highly anticipated by the digital assets industry, and is aimed at creating a more straightforward regulatory framework for cryptocurrencies.

Acting SEC Chair Mark Uyeda announced the initiative, with the support of $3.7 trillion industry. However, it will be overseen by SEC Commissioner Hester Peirce, as Uyeda is currently just holding the chair until Paul Atkins can be confirmed and allocate necessary enforcement resources.

The task force’s primary goal will be to develop a set of clear and comprehensive regulations, while also addressing registration issues for cryptocurrencies.

Peirce expressed hopes to work closely with the public to create a regulatory environment that protects investors, promotes capital formation, maintains market integrity, and encourages innovation.