SEC’s Crypto Task Force Clearest Sign Yet of Pivot From Gensler Era
Even without a permanent chairman confirmed to lead it, the Securities and Exchange Commission is wasting no time in signaling a departure from the work of the previous administration.
This week, on the first full day of the new administration, the SEC under acting Chairman Mark Uyeda announced the formation of an agencywide task force to study cryptocurrencies and chart a “sensible regulatory path that respects the bounds of the law.”
The announcement of the new task force signals an abrupt—and expected—departure from the SEC’s approach to crypto during the Biden administration, when Chairman Gary Gensler argued that nearly all crypto offerings should be treated as securities, requiring them to register with, and be regulated by, the SEC.
STP’s Cynthia Kelly says, “The crypto industry has long sought greater clarity to ensure compliance. However, this clarity may also invite increased regulatory scrutiny, presenting a double-edged sword.”
Cynthia’ considers the move an “overall positive step forward for the crypto space.”
Read the article and all of Cynthia’s comments here.
