It is barely 24 hours since Donald Trump entered the White House, and the United States Securities and Exchange Commission (SEC) launched a crypto-focused task force.
The new task force, which popular Republican Commissioner Hester Peirce will lead, is focused on driving the crypto regulatory framework.
According to the announcement, the task force will “set the SEC on a sensible regulatory path.”
Mark Uyeda Makes First Move Toward Crypto Regulations
With Gary Gensler’s exit from the agency, Mark Uyeda took over as the acting chair.
He announced the introduction of the task force on Tuesday. This follows long-standing complaints from crypto leaders about how the SEC has taken a regulation-by-enforcement approach.
As chairman, Gensler mandated that crypto firms register with the SEC, a directive that had many grey areas.
He even described all crypto, apart from Bitcoin (BTC), as securities. This ended up causing several crypto firms to violate federal securities law.
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