SEC Forms New Crypto Task Force | Global News Avenue

this U.S. Securities and Exchange Commission The U.S. Securities and Exchange Commission (SEC) said on Tuesday it has established a cryptocurrency task force to develop a regulatory framework for digital assets.

New working group aims to help SEC move away from its previous dependency Regarding enforcement actions taken severe criticism Cryptocurrency companies and market participants welcomed the move, according to a statement from acting SEC Chairman Mark Uyeda. Udeya was appointed to head the agency, following former Chairman Gary Gensler Step down.

The new focus may include attempts to more clearly “draw clear regulatory boundaries, provide realistic pathways to registration, develop reasonable disclosure frameworks and deploy enforcement resources judiciously”.

Coordination with others federal agencies The SEC said collaboration including the Commodity Futures Trading Commission (CFTC), state regulators and international peers will also be a priority for the task force.

The initiative will be led by SEC Commissioner Hester Peirce. Although Pierce doesn’t quite agree with this, she has earned the nickname “Crypto Mom” in the industry due to her support of cryptocurrencies and her strong opposition to the enforcement-led approach of previous regulators. Chairman Gensler.

Task Force Head Peirce Supports More Transparency in Cryptocurrency Regulation

In addition, Pierce said in the announcement that the working group will engage with a wide range of stakeholders, including investors, academics and industry leaders, in an effort to create an environment that balances investor protection, market integrity and innovation.

Since being appointed SEC commissioner by President Donald Trump in early 2018, Peirce has frequently get married She believes the cryptocurrency industry needs clearer regulations to thrive in the U.S. Peirce has also expressed a number of dissenting opinions on the SEC’s various cryptocurrency-related decisions.

The SEC still has many cases pending against various crypto companies and projects, such as Coin library (coin) and ripple;(Ripple USD) However, a Report The cases will be reviewed by the new government starting last week. Trump has proposed a number of promise The cryptocurrency industry, such as providing more regulatory transparency and establishing Bitcoin strategic reserveduring his presidential campaign.