The Securities and Exchange Commission (SEC) is launching “a crypto task force.”
In a Tuesday press release, the SEC described the task force as “dedicated to developing a comprehensive and clear regulatory framework for crypto assets.” The agency also said that the SEC, alongside the task force, will work “to set the SEC on a sensible regulatory path that respects the bounds of the law.”
SEC Commissioner Hester Peirce will head the task force, according to the release. Pierce had been previously floated as possibly taking the place of former Biden administration SEC Chair Gary Gensler under the Trump administration.
“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,” Peirce said in the release.
“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,” she added.
Trump, who had previously called crypto a “scam,” embraced it during his latest campaign and became the first presidential candidate to accept digital assets. His donors could donate to his campaign via its joint fundraising committees, with any cryptocurrency accepted through the Coinbase Commerce product.
Trump’s nominee for SEC chair, Paul Atkins, is pro-crypto, with Trump saying in a Truth Social post last month that Atkins “recognizes that digital assets & other innovations are crucial to Making America Greater than Ever Before.”
