SEC’s Hester Peirce to Lead Crypto Task Force Amid Regulatory Shift
The U.S. Securities and Exchange Commission (SEC) is taking a new approach to crypto regulation, with Commissioner Hester Peirce—often called “Crypto Mom”—leading a newly formed task force aimed at establishing clearer rules for the industry.
The task force was announced Tuesday by acting SEC Chair Mark Uyeda, following growing criticism that the agency has relied too heavily on enforcement actions rather than clear regulatory guidelines.
“To date, the SEC has primarily used enforcement actions to regulate crypto, often applying novel and untested legal interpretations,” the agency said in a statement. “Clarity on registration requirements and practical solutions for compliance have been elusive.”
The regulatory shift comes after the departure of former SEC Chair Gary Gensler, who had pushed for crypto firms to register with the agency, arguing that most cryptocurrencies are securities. Industry leaders pushed back, saying SEC rules were designed for traditional finance and do not fit the digital asset space.
Uyeda, who has called the SEC’s crypto stance a “disaster,” emphasized the need for clearer guidance. Peirce has also been a vocal critic of the agency’s past approach and previously proposed a three-year “safe harbor” to allow blockchain projects to develop before facing strict compliance requirements.
The task force will hold industry roundtables and focus on clear regulatory rules, practical paths to registration, and targeted enforcement, the SEC said. It will also work within its authority as defined by Congress.
Two of Uyeda’s advisers, Richard Gabbert and Taylor Asher, will serve as chief of staff and chief policy advisor for the initiative.
Featured image from: cryptoslate.com