The U.S. Securities and Exchange Commission (SEC) is restructuring its approach to cryptocurrency. According to the New York Times, the agency is downsizing a dedicated enforcement unit while strengthening a new task force focused on regulation.
The decision marks a shift from the previous administration. The enforcement unit, which includes more than 50 professionals such as lawyers and other staff, is seeing some of its key members transferred to other departments within the agency. The move reflects the SEC’s new direction under Trump, who has favored a more constructive approach to the digital currency sector.
Meanwhile, Republican Commissioner Hester Peirce announced that the new task force will focus on classifying different types of crypto assets and related activities to determine which ones fall into the category of securities.
