The U.S. Securities and Exchange Commission (SEC) has announced the establishment of a new cryptocurrency task force aimed at creating a comprehensive and transparent regulatory framework for digital assets. SEC Acting Chairman Mark T. Uyeda announced the initiative today and appointed Commissioner Hester Peirce to lead the task force.
Senior Advisor to the Deputy Chairman Richard Gabbert and Senior Policy Advisor Taylor Asher will serve as the task force’s Chief of Staff and Chief Policy Advisor, respectively. The group will include experts from across the SEC’s divisions and offices and will collaborate with stakeholders in the public and private sectors.
The SEC’s approach to crypto regulation has been criticized for relying heavily on enforcement actions, often leaving market participants unclear about compliance requirements. Uyeda acknowledged this challenge, saying: “To date, the SEC has regulated crypto reactively, often using new and untested legal interpretations. The result has been confusion that has stifled innovation and created an environment conducive to fraud. The SEC can do better.”
The task force aims to:
• Define clear regulatory boundaries for crypto assets. • Develop practical means of accounting for crypto assets. • Create sensible reporting frameworks. • Ensure judicious use of application resources.
The task force will work within the framework set forth by Congress and provide technical assistance as regulatory changes are considered. It will also coordinate efforts with other federal agencies, such as the Commodity Futures Trading Commission (CFTC), as well as state and international regulators.
*This is not investment advice.
Source: https://en.bitcoinsistemi.com/breaking-new-management-at-sec-publishes-first-cryptocurrency-announcement-sec-2-0-starts/