The Securities and Exchange Commission (SEC) has created a crypto task force aimed at fostering a friendlier environment for digital assets. Led by crypto champions Commissioner Hester Peirce, affectionately known as “Crypto Mom,” and Commissioner Mark Uyeda, the initiative marks a stark shift from the enforcement-heavy approach of the past.
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Peirce Takes Charge of Pro-Crypto Task Force
Peirce, renowned for her pro-crypto stance, will head the task force, which aims to facilitate innovation and growth for crypto companies without the looming threat of penalties. According to Kristin Smith, CEO of the Blockchain Association, this is a move toward “treating crypto as something we should grow rather than punish.”
Trump Reshapes Regulatory Environment
The task force arrives on the heels of a broader shift in U.S. policy under President Trump’s administration. Trump’s public support for crypto has encouraged regulators to take a more relaxed approach, leading to hopes for rescinded policies like the controversial SAB 121 crypto accounting guidance.
CFTC Appoints Pham to Champion Crypto
Beyond the SEC, Caroline Pham has been appointed interim chair of the Commodity Futures Trading Commission (CFTC), another regulator now leaning pro-crypto. Legal victories like the recent Texas court ruling against Biden-era sanctions on Tornado Cash further showcase how the regulatory landscape is changing.
As policies evolve, staying informed is essential for investors looking to navigate these changes. Investors can track their favorite cryptocurrencies on TipRanks. Click on the image below to find out more.
