TLDR
- SEC launches specialized crypto task force with Commissioner Hester Peirce as lead, marking policy shift
- New approach moves away from “regulation by enforcement” to create clearer industry guidelines
- Task force plans collaboration with CFTC and other agencies for coordinated oversight
- Initiative comes as part of Trump administration’s pro-crypto regulatory appointments
- SEC admits previous approach created confusion and seeks to establish practical registration processes
The Securities and Exchange Commission (SEC) took a major step toward reforming its crypto oversight on January 21, 2025, announcing a dedicated task force under the leadership of Commissioner Hester Peirce, known in the industry as “Crypto Mom.”
Acting SEC Chairman Mark Uyeda made the announcement just one day after Gary Gensler’s departure from the commission. The move represents a dramatic shift in the agency’s approach to digital asset regulation, with a stated focus on creating clear guidelines rather than relying on enforcement actions.
The newly formed task force brings together key SEC personnel, with Richard Gabbert serving as Chief of Staff and Taylor Asher taking the role of Chief Policy Advisor. Both previously served as Senior Advisors to the Acting Chairman, bringing their regulatory expertise to the initiative.
In announcing the task force, the SEC took the unusual step of acknowledging shortcomings in its previous regulatory approach. The agency stated that past reliance on enforcement actions had created an environment that was “hostile to innovation and conducive to fraud.”
Commissioner Peirce, who has consistently advocated for clearer crypto regulations, will lead efforts to develop practical registration processes and establish clear boundaries for industry participants. Her appointment signals a move toward more collaborative engagement with the crypto sector.
The task force’s mandate extends beyond the SEC’s walls, with plans to coordinate closely with other regulatory bodies. This includes working relationships with the Commodity Futures Trading Commission (CFTC), marking a departure from past inter-agency competition over crypto oversight.
State regulators and international counterparts will also be involved in the task force’s work, as the SEC seeks to align its approach with global standards while addressing unique aspects of the U.S. market. This cooperative strategy aims to create consistency across jurisdictions.
Pro Crypto Landscape
The initiative arrives amid broader changes in Washington’s crypto regulatory landscape. President Trump’s administration has made several pro-crypto appointments, including nominating Paul Atkins as the new SEC chair and creating the position of White House “crypto czar,” filled by David Sacks.
Under the new framework, the SEC plans to shift its enforcement strategy. Rather than using enforcement actions as the primary tool for oversight, the agency will focus on clear violations while working to establish transparent guidelines for compliance.
Technical assistance to Congress forms another key component of the task force’s responsibilities. The group will provide input as lawmakers consider updates to digital asset legislation, working within existing statutory frameworks while helping shape future regulations.
Commissioner Peirce emphasized the collaborative nature of the initiative in her statement, noting that success depends on “input from a wide range of investors, industry participants, academics, and other interested parties.” This approach marks a shift from the SEC’s previous, more unilateral decision-making process.
The formation of the task force follows criticism of the SEC’s past regulatory methods, which often relied on retroactive enforcement and novel legal interpretations. Industry participants have long called for clearer guidelines and more practical paths to compliance.
Market observers note that this represents the first major crypto-related action in the post-Gensler era at the SEC. The quick timing of the announcement suggests the new leadership had been planning this shift in advance of the chairman’s departure.
The scope of the task force’s work includes developing disclosure frameworks that balance investor protection with market innovation. This dual focus aims to address concerns from both industry participants and consumer advocates.
Implementation of the new regulatory approach will begin immediately, though the SEC notes that developing comprehensive frameworks will take time. The agency has already begun establishing working groups and outreach programs to gather industry input.
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