The US Securities and Exchange Commission (SEC) has taken a significant step towards clearer crypto regulations, establishing a new task force led by Commissioner Hester Peirce. This proactive approach aims to develop a comprehensive framework for crypto assets, marking a shift from enforcement actions to regulation.
The U.S. Securities and Exchange Commission (SEC) has created a new crypto task force to develop a comprehensive regulatory framework for crypto assets. The task force will be led by Commissioner Hester Peirce, a long-time advocate for the crypto industry.
A Shift in Approach: From Enforcement to Regulation
The SEC’s announcement marks a significant shift in its approach to crypto regulation. Gone are the days of relying primarily on enforcement actions to regulate crypto retroactively and reactively. Instead, the agency is taking a proactive stance by creating a task force dedicated to developing clear and comprehensive regulations.
A Collaborative Effort
The new crypto task force will not only work closely with the crypto industry but also provide technical assistance to Congress as it crafts crypto regulations. This collaborative approach is expected to foster a regulatory environment that protects investors, facilitates capital formation, fosters market integrity, and supports innovation.
Breaking Down Barriers
The SEC’s previous efforts in this area have been criticized for being confusing and unhelpful. The agency has admitted that its past approach “can do better” when it comes to crypto regulation. The new task force is expected to address these issues by providing clarity on who must register and offering practical solutions for those seeking to register.
A New Era of Collaboration
The creation of the crypto task force marks a significant change in the SEC’s approach to crypto regulation. This new era of collaboration between the agency, Congress, and the crypto industry is expected to lead to more effective and efficient regulations that support innovation while protecting investors.
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- coindesk.com | SEC Forms New Crypto Task Force Spearheaded by Hester Peirce
