- The SEC reassigned over 50 lawyers from its crypto enforcement unit.
- A new task force led by Hester Peirce aims to provide regulatory clarity.
The U.S. Securities and Exchange Commission (SEC) is reducing its crypto enforcement unit. This move aligns with President Donald Trump’s promise to ease regulations and boost digital asset growth. The agency has reassigned over 50 lawyers and staff members to other departments, with reports labeling some shifts as unfair demotions.
Acting SEC Chair Mark T. Uyeda, a known crypto advocate, has taken several steps to restructure the agency. One of his key actions includes creating a dedicated crypto task force led by Commissioner Hester Peirce. Peirce has long criticized the SEC’s past handling of digital assets, describing it as legally vague and commercially impractical.
The task force aims to clarify the application of securities laws to crypto assets and recommend innovative yet investor-protective policies. It will focus on defining which crypto assets qualify as securities, offering relief for token issuers, and revisiting registered token offerings. Peirce has also emphasized the need for compliant custody solutions for investment advisers.
SEC Shifts Strategy
The shift in SEC policy comes after years of enforcement-driven regulations under former Chair Gary Gensler. His tenure saw over 100 crypto-related enforcement actions, including high-profile cases like Coinbase’s alleged violation of securities laws. Gensler resigned following President Trump’s re-election.
Paul Atkins, known for supporting a lighter regulatory approach, has been nominated to succeed Gensler. Meanwhile, Uyeda’s leadership indicates a new direction for the agency, which Peirce described as a necessary correction. She emphasized the need for clear rules that support innovation while deterring fraud.
The SEC’s new website for the crypto task force officially launched today, inviting public input from industry members and investors. The site provides a platform for submitting ideas and participating in discussions on the evolving regulatory landscape.
As the task force charts a new regulatory framework, Peirce stressed that investor protection and market integrity remain top priorities. She acknowledged the challenges ahead but expressed confidence in crafting balanced policies that benefit both the crypto industry and the public.
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