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Crypto News

SEC Launches Cryptocurrency Task Force Aiming to “Put the SEC on a Reasonable Regulatory Path”

The day after Gary Gensler left office and President Donald Trump was inaugurated, the US Securities and Exchange Commission introduced a new cryptocurrency task force. The announcement, made today, criticized the regulator’s previous actions led by Gary Gensler. The SEC’s Hester Peirce will chair the task force aimed at developing a practical regulatory approach for the agency.

Acting President Ueda announces the release of SEC Crypto 2.0

The US Securities and Exchange Commission (SEC) has created a new task force focused on cryptocurrency regulations. The move was announced just one day after controversial SEC leader Gary Gensler resigned. The new acting president, Marl Ueda, was appointed by President Donald Trump.

Hester Peirce, known for her supportive views on cryptocurrencies, will lead the task force. Her preferred approach to cryptocurrencies even earned her the title of “Crypto Mother.” The SEC said Crypto 2.0 is designed to provide clear regulatory guidance for the cryptocurrency industry.

The Securities and Exchange Commission said in a statement“To date, the SEC has relied primarily on enforcement actions to regulate cryptocurrencies retroactively and reactively, often adopting new and untested legal interpretations along the way. It has been clear about who must register, and practical solutions for those seeking registration.” It’s unattainable.

Ueda criticized the SEC’s handling of cryptocurrencies as problematic, and called for clearer guidance. Pierce also criticized the agency and proposed a three-year “safe harbor” for developing blockchain projects without strictly adhering to federal securities law.

Richard Gabbert and Taylor Asher, advisors to UIDA, will hold key positions in the new task force, which will focus on clear regulations, realistic registration pathways, and sound implementation. The task force will also host roundtables and adhere to legal frameworks provided by Congress.

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