One day after SEC Chair Gary Gensler departed alongside the inauguration of President Donald Trump, the U.S. Securities and Exchange Commission announced a crypto task force Tuesday in a pointed announcement that’s critical of the regulator’s past actions.
“Drawing from talented staff across the agency, the task force will collaborate with Commission staff and the public to set the SEC on a sensible regulatory path that respects the bounds of the law,” the statement reads. “To date, the SEC has relied primarily on enforcement actions to regulate crypto retroactively and reactively, often adopting novel and untested legal interpretations along the way. Clarity regarding who must register, and practical solutions for those seeking to register, have been elusive.”
“The result has been confusion about what is legal, which creates an environment hostile to innovation and conducive to fraud,” it continued. “The SEC can do better.”
The SEC’s Acting Chairman Mark Uyeda, appointed to the role on Monday, announced the news Tuesday. SEC Commissioner Hester Peirce, a noted crypto advocate who has earned the affectionate nickname “Crypto Mom,” will lead the task force.
Editor’s note: This story is breaking and will be updated with additional details.
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https://decrypt.co/302057/sec-can-do-better-crypto-task-force
