{"id":11364,"date":"2025-02-04T21:31:48","date_gmt":"2025-02-04T21:31:48","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=11364"},"modified":"2025-02-04T21:31:48","modified_gmt":"2025-02-04T21:31:48","slug":"sec-commissioner-hester-peirce-lays-out-10-priorities-for-new-crypto-task-force","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=11364","title":{"rendered":"SEC Commissioner Hester Peirce Lays Out 10 Priorities for New Crypto Task Force"},"content":{"rendered":"
\n

The U.S. Securities and Exchange Commission\u2019s (SEC) newly-created Crypto Task Force is working to create long-awaited regulatory clarity for the crypto industry, according to a Tuesday statement from Commissioner Hester Peirce<\/a>.<\/p>\n<\/p>\n

Pierce, who was appointed by Acting Chair Mark Uyeda to spearhead the Crypto Task Force, laid out 10 of the group\u2019s priorities, including resolving the question of what makes a cryptocurrency a security vs. a commodity, and creating a more \u201cviable\u201d path to registration by modifying the SEC\u2019s existing paths.<\/p>\n<\/p>\n

Other priorities include \u201cprovid[ing] clarity about whether crypto-lending and staking programs are covered by the securities laws\u201d and deciding which parts of the market fall outside the SEC\u2019s jurisdiction.<\/p>\n<\/p>\n

The Crypto Task Force was established just two weeks ago, one day after former Chair Gary Gensler \u2014 who was known for his so-called regulation-by-enforcement approach to crypto \u2014 stepped down. Both Peirce and Uyeda have been vocal in their disapproval of Gensler\u2019s strategy, and have indicated a massive shift in the agency\u2019s approach to crypto regulation under the new Donald Trump administration. Just two days after the task force was created, the SEC rescinded its controversial Staff Accounting Bulletin 121<\/a>, which Peirce heralded as a \u201cmilestone\u201d for the Crypto Task Force in her Tuesday remarks.<\/p>\n<\/p>\n

Read more: SEC Forms New Crypto Task Force Spearheaded by Hester Peirce<\/a><\/p>\n<\/p>\n

Comparing the agency\u2019s history of crypto regulation to a family road trip, Peirce said that the Crypto Task Force\u2019s regulatory approach \u201cshould be more enjoyable and less risky than the crypto road trip the Commission has taken the industry on for the last decade.\u201d<\/p>\n<\/p>\n

\u201cOn that last trip, the Commission refused to use regulatory tools at its disposal and incessantly slammed on the enforcement brakes as it lurched along a meandering route with a destination not discernible to anyone,\u201d Peirce said.<\/p>\n<\/p>\n

Peirce acknowledged the \u201clegal imprecision and commercial impracticality\u201d of the SEC\u2019s regulation of crypto under Gensler, and stressed that it will take time for the Crypto Task Force to decide what to do with the legacy of enforcement he left behind.<\/p>\n<\/p>\n

\u201cMany cases remain in litigation, many rules remain in the proposal stage, and many market participants remain in limbo,\u201d Peirce said. \u201cDetermining how best to disentangle all these strands, including ongoing litigation, will take time. It will involve work across the whole agency and cooperation with other regulators. Please be patient. The Task Force wants to get to a good place, but we need to do so in an orderly, practical, and legally defensible way.\u201d<\/p>\n<\/p>\n

Though many parts of the agency\u2019s approach to crypto regulation are changing, Peirce\u2019s statement makes clear that the SEC\u2019s primary objective \u2013\u00a0to protect investors \u2013\u00a0remains as important as ever.<\/p>\n<\/p>\n

\u201cOne of the reasons the U.S. capital markets are so robust, efficient, and effective is that we have rules designed to protect investors and the integrity of the marketplace, and we enforce those rules. We do not tolerate liars, cheaters, and scammers,\u201d Peirce said. \u201cAs the Task Force works to help develop this regulatory framework, it will give careful consideration to antifraud protections. If the Commission spots fraud that lies outside our jurisdiction, it can refer the matter to a sister regulator. If it does not fall within any regulator\u2019s jurisdiction, the Commission can bring that gap to Congress\u2019s attention.\u201d<\/p>\n<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

The U.S. Securities and Exchange Commission\u2019s (SEC) newly-created Crypto Task Force is working to create long-awaited regulatory clarity for the crypto industry, according to a Tuesday statement from Commissioner Hester Peirce. Pierce, who was appointed by Acting Chair Mark Uyeda to spearhead the Crypto Task Force, laid out 10 of the group\u2019s priorities, including resolving […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-11364","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/11364","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=11364"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/11364\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=11364"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=11364"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=11364"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}