The Hester Pierce-led SEC crypto taskforce, selected by the Trump administration to create a framework on crypto regulation, has named its members and announced its first scheduled roundtable.
According to a statement by the agency, the SEC crypto taskforce will hold roundtables beginning March 21, 2025, to address key issues related to crypto regulation.
The statement from the regulator said the members of the public would be allowed to attend the inaugural event in the “Spring Sprint Toward Crypto Clarity” from 1:00 PM to 5:00 PM at the SEC headquarters in Washington, D.C. Attendees will be allowed to participate in small unbroadcast breakout sessions it will be streamed live on SEC.gov. Commenting on the development, Commissioner Pierce stated:
“I am looking forward to drawing on the expertise of the public in developing workable regulatory frameworks for crypto […] the roundtables are an important part of our engagement with the public.”
Look for Feasible Solutions
The SEC crypto taskforce was officially launched on January 21, 2025, by the agency’s acting chairman, Mark T. Uye, to help establish a framework for crypto regulations and provide a realistic path towards the registration of ‘craft sensible disclosure frameworks and deploying enforcement resources judiciously.’
Considering the frosty relationship between the SEC and the crypto industry, the task chairperson, Hester Pierce, said the SEC crypto task force will engage internal and external experts at the SEC to find ‘feasible solutions’ to the challenges of cryptocurrency regulation.
The Identity of the Team
The team’s members will include Richard Gabbert, a Senior SEC official and formerly a legal advisor to Peirce, who will serve as Chief of Staff. Other notable members of the group are Michael Selig, a former partner at the law firm Willkie Farr & Gallagher, who will serve as Chief Legal Advisor, and Taylor Asher, Policy advisor to SEC Acting Chairman Mark Uyeda, who will serve as Chief Policy Advisor.
The SEC crypto task force will also include Landon Zinda, from the cryptocurrency think tank Coin Center; Veronica Reynolds, formerly a lawyer at Baker Hostetler LLP, specializing in NFT and metaverse regulations; and Bernard Nolan, who previously worked in the SEC’s Division of Investment Management. Pierce further said:
“The Crypto Taskforce exhibits deep expertise and an enthusiastic commitment to identifying—with the help of other talented staff across the Commission and interested members of the public—workable solutions to difficult crypto regulatory problems.”
Members of the public make submissions
Members of the Public Can Make Submissions
The agency’s statement says that members of the public interested in making submissions could communicate directly with the SEC crypto taskforce to make appointments through a dedicated SEC portal. The commission stated it would post additional information on the taskforce’s agenda, including the agenda of the roundtables and the identity of the speakers, within the coming days.
Conclusion
There will be great anticipation as the first roundtable organized by the SEC crypto task force, dubbed “How We Got Here and How We Get Out—Defining Security Status,” approaches. Many will wonder how soon or effectively the group will be able to implement a crypto regulation framework that will remove confusion from the industry.
Frequently Asked Questions (FAQs)
Who regulates cryptocurrency in the US?
The SEC, CFTC, and the IRS each have unique interpretations of cryptocurrencies.
Does the SEC have jurisdiction over cryptocurrency?
SEC’s mandate includes protecting the interests of potential investors without destroying the market, which became a major question for institutional regulators. This means the crypto industry can fall within the authority of the SEC regulations.
What is the role of the Securities and Exchange Commission?
The SEC oversees securities exchanges, brokers and dealers, investment advisors, and mutual funds in an effort to promote fair dealing, the disclosure of important market information, and the prevention of fraud.
What is the role of the sec crypto taskforce under Pierce?
Task Force seeks to clarify whether specific crypto asset categories, such as stablecoins, wrapped tokens, and NFTs, should have their security status explicitly addressed under federal securities laws.
Appendix: Glossary of Key Terms
SEC: The US SEC is the Securities and Exchange Commission, a government agency that regulates the securities industry.
Taskforce: A group of people that are brought together to do a particular job, especially when there is a problem to solve
Crypto: A type of digital currency that allows people to make payments directly to each other through an online system.
Roundtable: A conference for discussion or deliberation by several participants.
Tom Nyarunda is a writer with in-depth knowledge of blockchain, cryptocurrency, NFTs, and SaaS. Based in Kenya, Tom has devoted his time to the study of Bitcoin and cryptocurrency, as he believes them to be incorruptible products of the future.
