The initiative, unveiled Tuesday by Acting SEC Chairman Mark T. Uyeda, marks the start of what some observers are calling “SEC 2.0,” a more collaborative and transparent approach to cryptocurrency regulation.

Under the new plan, pro-crypto SEC Commissioner Hester Peirce will lead the task force, drawing on expertise from across the agency. Senior Advisor to the Acting Chairman Richard Gabbert and Senior Policy Advisor Taylor Asher have been named chief of staff and chief policy advisor, respectively.

The team is charged with setting “the SEC on a sensible regulatory path that respects the bounds of the law,” according to the official statement. The announcement also acknowledges a history of reliance on enforcement actions that left the crypto community uncertain about compliance.

The SEC has entered a new pro-crypto era. Source: Official SEC Statement

Clarity in Regulatory Framework

“The SEC can do better,” the statement reads, emphasizing the need to establish realistic pathways to registration and create practical disclosure requirements for digital assets.

Peirce echoed the sentiment, calling the process “an undertaking that will take time, patience, and much hard work.” She stressed the importance of gathering input from “a wide range of investors, industry participants, academics, and other interested parties” to ensure that the new rules protect investors and encourage responsible innovation.

This task force emerges in the wake of former SEC Chair Gary Gensler’s departure and follows Acting Chair Uyeda’s temporary appointment by President Donald Trump. While Uyeda is expected to guide the agency in the interim, the White House has nominated former SEC commissioner Paul Atkins to take over as the permanent SEC chair, pending Senate confirmation. Both Uyeda and Peirce have long been identified as Republican commissioners generally opposed to strict “regulation-by-enforcement” tactics, signaling a potential break from the Biden-era crackdown on digital assets that took place under Gensler.

Trump Administration Crypto Policies

The Trump administration, which has taken a friendlier stance toward cryptocurrencies, appears committed to ending what it views as sweeping crackdowns in the sector. Critics point out that many of these past actions stifled innovation and stoked confusion among investors. According to the new initiative, the goal is to clarify which crypto assets must register as securities and to streamline the process for projects that seek to register.

“This undertaking will succeed only if the Task Force has input from a wide range of investors, industry participants, academics, and other interested parties,” Peirce reiterated. The statement indicates that the SEC will coordinate with federal departments and agencies, including the Commodity Futures Trading Commission, as well as state and international counterparts. Public hearings and collaboration with the broader crypto community are expected to follow as the task force begins its work.

Now we wait for the much-anticipated announcement of a Strategic Bitcoin Reserve.