The U.S. Securities and Exchange Commission (SEC) has announced the creation of a dedicated task force to establish a transparent regulatory framework for the cryptocurrency market.
Acting SEC Chairman Mark T. Uyeda introduced the initiative on Wednesday, appointing Commissioner Hester Peirce to lead the effort.
The newly formed Crypto Task Force will draw on expertise from various SEC divisions to define clear regulatory boundaries, develop practical registration pathways, and design comprehensive disclosure requirements for industry participants.
The initiative follows mounting criticism of the SEC’s enforcement-driven approach, which some stakeholders argue has created uncertainty and hindered innovation in the fast-evolving crypto sector.
“This undertaking will require time, patience, and collaboration,” Peirce said in a statement. “We aim to work closely with the public to foster a regulatory framework that protects investors, supports market integrity, encourages innovation, and facilitates capital formation.”
The task force will collaborate with federal agencies, including the Commodity Futures Trading Commission (CFTC), as well as state and international regulatory bodies, to ensure a coordinated approach. It will also engage with Congress to provide technical insights as lawmakers consider updates to existing statutory regulations.
Key figures in the initiative include Richard Gabbert, Senior Advisor to the Acting Chairman, who will serve as Chief of Staff, and Taylor Asher, Senior Policy Advisor, who has been appointed Chief Policy Advisor.
Acting Chairman Uyeda expressed confidence in Peirce’s ability to lead the effort. “Commissioner Peirce’s leadership will be instrumental in shaping effective regulatory policies for crypto assets, which require input from multiple SEC divisions and offices,” he said.
The SEC’s move signals a shift toward a more proactive approach in addressing the challenges and opportunities presented by digital assets. Peirce emphasized that the task force’s success would rely heavily on engagement with a broad range of stakeholders, including investors, academics, industry leaders, and policymakers.
The initiative aims to balance the SEC’s dual mandate of investor protection and market innovation, as the agency works to adapt its regulatory approach to the dynamic cryptocurrency industry.