- SEC announces new crypto task force led by Commissioner Hester Peirce, marking a shift from enforcement-heavy approach
- Task force aims to create clear regulatory framework and practical registration processes for crypto assets
- Initiative will coordinate with other agencies including CFTC and provide technical assistance to Congress
- SEC acknowledges past regulatory approach was “retroactive and reactive”
- Announcement comes as part of broader pro-crypto appointments under Trump administration
The U.S. Securities and Exchange Commission (SEC) announced on January 21, 2025, the creation of a specialized crypto task force led by Commissioner Hester Peirce, marking a new direction in the agency’s approach to digital asset regulation.
Acting Chairman Mark Uyeda revealed the initiative, which aims to establish a comprehensive regulatory framework for crypto assets. The task force represents a departure from the SEC’s previous strategy of relying primarily on enforcement actions to oversee the crypto industry.
Commissioner Peirce, widely known as “Crypto Mom” for her supportive stance on blockchain innovation, will head the task force. The leadership team includes Richard Gabbert as Chief of Staff and Taylor Asher as Chief Policy Advisor, both currently serving as Senior Advisors to the Acting Chairman.
The announcement acknowledges past challenges in the SEC’s regulatory approach. The agency stated that its previous reliance on enforcement actions often led to confusion and an environment that many viewed as unfavorable to innovation and compliance. The new task force aims to address these issues by creating clear guidelines and practical registration processes.
In developing the new framework, the SEC plans to work closely with other regulatory bodies. This includes coordination with the Commodity Futures Trading Commission (CFTC), as well as state and international regulators.
The collaborative approach marks a shift from recent years, during which the SEC and CFTC were often seen as competing for regulatory authority over the crypto industry.
The task force will also provide technical assistance to Congress as lawmakers consider updates to digital asset legislation. This support role indicates the SEC’s commitment to working within existing statutory frameworks while helping shape future regulations.
Commissioner Peirce emphasized the importance of inclusive dialogue in developing new regulations.
“This undertaking will take time, patience, and much hard work. It will succeed only if the Task Force has input from a wide range of investors, industry participants, academics, and other interested parties,” she stated.
The creation of the task force comes amid broader changes in crypto regulation under the Trump administration. Despite not mentioning crypto in his inaugural speech, President Trump has made several pro-crypto nominations for key regulatory positions.
These appointments include Paul Atkins as the new SEC chair and David Sacks as the first-ever White House “crypto czar.” The administration has also nominated Caroline Pham and Mark Uyeda as acting chairs for the CFTC and SEC, respectively.
The SEC’s announcement indicates a recognition of past regulatory shortcomings. The agency explicitly stated that “clarity regarding who must register, and practical solutions for those seeking to register, have been elusive.”
The task force’s mandate includes developing clear regulatory boundaries and establishing practical registration processes. These efforts aim to balance investor protection with the need for market innovation and growth.
Under the new structure, the SEC plans to deploy its enforcement resources more strategically. Rather than using enforcement as the primary regulatory tool, the agency will focus on cases involving clear violations of established rules.
The initiative represents the first major crypto-related action since Gary Gensler stepped down as SEC chairman. The timing and content of the announcement suggest a quick pivot in the agency’s regulatory philosophy under new leadership.
International coordination will play a key role in the task force’s work. The SEC plans to align its regulatory approach with global standards while addressing challenges specific to the U.S. crypto industry.
The task force will begin its work immediately, though the SEC noted that developing a comprehensive framework will take time. The agency emphasized the importance of gathering input from diverse stakeholders throughout the process.
The most recent update from the SEC confirms that Richard Gabbert and Taylor Asher have already begun their roles within the task force, working to establish initial priorities and outreach strategies.
