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Home News US SEC Forms Task Force To Shape New Crypto Regulations Under Trump’S Leadership

US SEC Forms Task Force To Shape New Crypto Regulations Under Trump’S Leadership

by Celia

The U.S. Securities and Exchange Commission (SEC) announced on Tuesday the formation of a new task force focused on creating a regulatory framework for crypto assets. This move marks a significant step in President Donald Trump’s administration, which is set to reshape the country’s approach to cryptocurrency regulation.

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Trump, who had campaigned as a “crypto president,” promised to roll back the aggressive regulatory actions taken by the previous administration under President Joe Biden. The Biden administration’s SEC had filed lawsuits against several crypto companies, including Coinbase and Kraken, accusing them of violating SEC rules. These companies have denied the allegations, arguing that the SEC’s rules do not align with the nature of cryptocurrencies and that the criteria for determining when a crypto token is considered a security remain unclear.

The crypto industry has long called for the SEC to provide clear guidelines on cryptocurrency regulations. Tuesday’s announcement marks the first significant policy change for the crypto sector under the new administration.

Mark Uyeda, the new acting SEC chair appointed by Trump, and fellow SEC Commissioner Hester Peirce, also a Republican, are leading this initiative. Uyeda’s office stated that the task force will aim to establish clear regulatory guidelines, create realistic registration pathways, develop practical disclosure frameworks, and ensure proper enforcement.

Reuters reported earlier this month that Uyeda and Peirce are working to initiate the rule-making process as part of Trump’s broader plan to reduce regulatory burdens on the crypto industry and encourage digital asset adoption.

The move has been welcomed by industry leaders. Jonathan Jachym, global head of policy at Kraken, expressed his optimism in an email statement: “We are encouraged by this meaningful first step towards real policy solutions and ending the regulation by enforcement era of the past.”

Bitcoin surged to a record high of $109,071 on Monday, fueled by investor excitement over the new administration’s crypto-friendly policies.

The task force will also assist lawmakers in drafting crypto-related legislation and will coordinate with other federal agencies, such as the Commodity Futures Trading Commission (CFTC), as well as state and international regulators.

Coinbase’s Chief Legal Officer, Paul Grewal, also praised the initiative. “For years, we’ve been asking for clear rules on crypto. The past four years brought no response, but today marks a new beginning,” he said in a phone interview.

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