(Washington, 22nd) — The U.S. Securities and Exchange Commission (SEC) has launched a cryptocurrency task force to create a clearer regulatory framework for the digital asset industry. This move follows the resignation of former SEC Chair Gary Gensler and signals a significant shift in the agency’s approach to crypto oversight.
Acting SEC Chair Tomoko Ueda emphasized that the task force’s main goal is to balance investor protection with promoting innovation in the crypto sector. SEC Commissioner Hester Peirce, known as “Crypto Mom” for her vocal opposition to strict enforcement actions, will lead the group.
This initiative marks the first major step by the Trump administration to reshape cryptocurrency policies. During his campaign, Trump promised to become the “crypto president” and pledged to undo the regulatory measures imposed under President Joe Biden. Under Biden, the SEC took legal actions against key cryptocurrency platforms like Coinbase and Kraken, accusing them of non-compliance with securities law.
Crypto firms have long criticized Gensler’s SEC for using enforcement actions instead of establishing clear guidelines for compliance. With Gensler stepping down, the agency will now pursue a different approach.Ueda’s office explained, “The task force will define clear regulatory boundaries, simplify the registration process, create a feasible disclosure framework, and allocate enforcement resources strategically.”
Sources suggest that Ueda and Peirce are ready to implement Trump’s crypto policy reforms, including starting formal rulemaking procedures. Additionally, Trump is expected to issue an executive order soon that will ease regulatory scrutiny on the crypto industry and promote the adoption of digital assets.
