#SECCrypto2 Mark T. Uyeda, has launched a Cryptocurrency Task Force dedicated to developing a comprehensive and clear regulatory framework for crypto assets. The Task Force will work with Commission staff and the public to put the SEC on a sensible regulatory path that respects the boundaries of the law. To date, the SEC has relied primarily on enforcement actions to regulate cryptocurrency retroactively and reactively, often adopting new and untested legal interpretations along the way. Clarity on who should register and practical solutions for those seeking to register have been elusive. The result has been confusion about what is legal, which creates an environment hostile to innovation and conducive to fraud. The SEC can do better.
The Task Force will focus on helping the Commission draw clear regulatory lines, provide realistic paths to registration, craft sensible disclosure frameworks, and deploy enforcement resources judiciously.
The Task Force will operate within the statutory framework provided by Congress and will coordinate the provision of technical assistance to Congress as it makes changes to that framework. The Task Force will coordinate with federal departments and agencies, including the Commodity Futures Trading Commission, and state and international counterparts.
Input from a broad range of investors, industry participants, academics, and other stakeholders is welcome. We look forward to working hand-in-hand with the public to foster a regulatory environment that protects investors, facilitates capital formation, promotes market integrity, and supports innovation,” said Commissioner Peirce.
The Task Force anticipates holding roundtables in the future, but in the meantime, it welcomes public input at
[email protected] .
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