Quick take:
- Task Force will collaborate with Commission staff and the public to set a “sensible regulatory path within the bounds of the law”.
- The Task Force will focus on drawing clear regulatory lines, providing realistic paths to registration and crafting sensible disclosure frameworks.
- The announcement comes just a day after former SEC Chair Gary Gensler stepped down.
The U.S. Securities and Exchange Commission’s Acting Chairman Mark T. Uyeda on Tuesday announced the launch of the Crypto Task Force, a team dedicated to developing a “sensible regulatory path” for crypto assets “within the bounds of the law”.
According to the press release, Commissioner Hester Peirce will lead the task force, with Richard Gabbert, Senior Advisor to the Acting Chairman and Taylor Asher, Senior Policy Advisor to the Acting Chairman serving as the task force’s Chief of Staff and Chief Policy Advisor, respectively.
The Task Force will focus on drawing clear regulatory lines, providing realistic paths to registration and crafting sensible disclosure frameworks.
The announcement comes just hours following President Trump’s inauguration and former SEC Chair Gary Gensler’s exit from the Commission.
Commenting on the announcement, Commissioner Pierce said in a statement: “This undertaking will take time, patience, and much hard work. It will succeed only if the Task Force has input from a wide range of investors, industry participants, academics, and other interested parties. We look forward to working hand-in-hand with the public to foster a regulatory environment that protects investors, facilitates capital formation, fosters market integrity, and supports innovation.”
The Task Force will operate within the statutory framework provided by Congress, also helping coordinate the provision of technical assistance to the house as it formulates the framework. This process will also involve federal departments and agencies, including the Commodity Futures Trading Commission, and state and international counterparts.
Acting Chairman Uyeda commented: “I look forward to the efforts of Commissioner Peirce to lead regulatory policy on crypto, which involves multiple SEC divisions and offices.”
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