[NEWS] SEC establishes cryptocurrency task force to accelerate regulatory development

On the 21st, the SEC (Securities and Exchange Commission) announced the launch of a Cryptocurrency Task Force dedicated to a comprehensive and clear regulatory framework for cryptocurrencies.

The task force will be led by SEC Commissioner Hester Peirce. Cryptocurrency regulations in the United States have been criticized for being vague in many areas, and the SEC's enforcement actions have been criticized for not being based on clear and ex post facto regulations, but the change in the system following the inauguration of President Trump will accelerate the development of an environment for cryptocurrency regulation.

The task force will coordinate with the Commodity Futures Trading Commission (CFTC), various government ministries, and international counterparts. SEC Acting Chairman Mark Uyeda said in a statement, "We look forward to Commissioner Peirce's efforts to lead cryptocurrency regulatory policy, which involves multiple SEC divisions and offices."

Commissioner Pierce also stated, "This effort will take time, patience, and significant hard work." He added, "The Task Force will only be successful if it receives input from a wide range of investors, industry participants, academics, and other stakeholders. We look forward to working together to foster a regulatory environment that protects investors, promotes capital formation, and supports market integrity and innovation."

While the SEC is becoming more proactive toward crypto assets, the industry is paying more attention to the actions of President Trump, who has supported the market.

On his first day in office, President Trump signed a number of executive orders, but none of them were related to crypto assets as expected. In addition, crypto assets were not included in the priority agenda of the White House or the Republican Party, and crypto asset prices temporarily fell.

On the other hand, other executive orders that were expected to be issued on his first day in office have not been signed, and there is a strong sense of optimism in the crypto asset industry. Therefore, although the specific timing is unclear, it is expected that some of the currently expected crypto asset-related executive orders will be signed at a later date.

Reference: Announcement
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