SEC’s crypto task force to hold roundtables on crypto regulations and security status

The U.S. Securities and Exchange Commission’s new cryptocurrency task force will kick off a series of roundtables this month to clarify the “security status” of digital assets.

Dubbed the “Spring Sprint Toward Crypto Clarity,” the series will begin on March 21 with a discussion titled “How We Got Here and How We Get Out – Defining Security Status,” a March 3 SEC press release from the agency said.

The event will take place at the SEC’s Washington, D.C., headquarters and will be open to the public, though space for in-person attendance is limited.

The roundtables are part of a broader push by the SEC’s Crypto Task Force, launched in January by Acting Chair Mark Uyeda. Led by Commissioner Hester Peirce, the task force aims to bring some much-needed clarity to crypto regulations.

According to Peirce, these roundtables are all about “drawing on the expertise of the public” to help shape a regulatory framework that actually makes sense for crypto. She called these sessions an “important part” of the SEC’s engagement with the industry.

The SEC has fast-tracked efforts to clarify the security status of crypto assets just days after House Democrats introduced the MEME Act, a bill that blocks federal officials from launching, endorsing, or promoting digital assets, with criminal and civil penalties for violations.

On the same day, the SEC’s Division of Corporation Finance weighed in on whether meme coins fall under federal securities laws, ultimately concluding that they don’t meet the definition of security under the Howey test.

However, the agency stressed that its stance isn’t legally binding but rather a staff interpretation with “no legal force or effect.”

As previously reported by crypto.news, the SEC has also unveiled its list of members for its Crypto Task Force, which includes staff from Acting Chairman Mark Uyeda’s office, along with representatives from multiple divisions within the agency.

Michael Selig, a former partner at Willkie Farr & Gallagher who’s worked on crypto, NFTs, and stablecoins, is taking on the role of chief counsel. Peirce’s former policy counsel, Sumeera Younis, will run operations, and other key figures include Richard Gabbert, Taylor Asher, and Landon Zinda, who all bring different regulatory and policy expertise to the table.

Former CFTC chair and Willkie senior counsel Chris Giancarlo voiced his support for Selig’s new role in a March 3 X post, calling him a “protégé” and expressing excitement about the team’s direction.