Acting SEC Chair Uyeda announces new crypto task force

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SEC performing chair Mark Uyeda has introduced a crypto task force dubbed “SEC Crypto 2.0”
The task force will look to ascertain a transparent regulatory framework for cryptocurrencies.
SEC Commissioner Hester Peirce will lead this task force.

The US Securities and Exchange Commission has introduced the formation of a new crypto task force.

Acting SEC Chair Mark Uyeda launched the “SEC Crypto 2.0”, a task force the company says will probably be “dedicated to developing a comprehensive and clear regulatory framework for crypto assets.”

The announcement comes days after it emerged the company was searching for a crypto regulatoy method reboot below President Donald Trump.

SEC performing chair kinds crypto task force

According to a press launch the regulatory revealed on Jan. 21, Commissioner Hester Peirce is about to steer the new task force. Crypto 2.0 goals at providing a path to regulatory readability for the crypto trade, the SEC mentioned within the launch.

“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 assertion reads partially.

SEC plans to coordinate with different federal businesses, together with the Commodity Futures Trading Commission (CFTC). Collaboration may even contain each state and worldwide counterparts.

“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. We look forward to working hand-in-hand with the public to foster a regulatory environment that protects investors, facilitates capital formation, fosters market integrity, and supports innovation,” Commissioner Peirce said.

SEC’s transfer comes a day after former chair Gary Gensler exited following his resignation. President Donald Trump appointed Uyeda the performing chair.

With Gensler closely criticised for the fee’s regulation by enforcement method and a scarcity of clear path to registration for crypto corporations, the primary objective of the task force is to clear the confusion. It may even assist put in place “sensible disclosure frameworks” with the SEC eyeing public enter on this. The Peirce-led staff may even undertake roundtable conferences.



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