A cryptocurrency task force from the U.S. SEC will publish its first report "in the coming months"

The cryptocurrency task force of the commission, led by Commissioner Hester Peirce, was established the day after Donald Trump's inauguration in January.

The chairman of the U.S. Securities and Exchange Commission (SEC), Paul Atkins, appeared before lawmakers in one of his first hearings since taking over the presidency of the financial regulator, during which he responded to questions about his plans for the cryptocurrency sector.

In a hearing held on May 20, where the oversight of the SEC was discussed, Atkins reiterated his promise to make the regulation of digital assets a "key priority" during his presidency. In response to questions from North Carolina Representative Chuck Edwards, the SEC chairman did not directly answer how much of the regulator's funds were used to support the crypto task force led by Commissioner Hester Peirce, stating that its findings were "still in development".

"We should have something here in the coming months with proposals for next steps," Atkins said in response to the task force's first report.

The SEC chairman's appearance at the oversight hearing was one of his first since he took office in April. Nominated by Donald Trump, Atkins, also a former commissioner, was seen by many lawmakers and those in the digital asset industry as someone who could radically change the SEC's approach to the crypto sector.