The U.S. Securities and Exchange Commission (SEC) today announced the creation of a special task force to develop clear and transparent cryptocurrency regulations. This move is seen as an important attempt to provide greater clarity in a hitherto complex and often confusing legal environment surrounding crypto.
Focus on clear regulations
The task force, led by Commissioner Hester Peirce, aims to design a comprehensive and clear regulatory framework that takes into account the rapid developments within the crypto sector. Acting Chairman Mark T. Uyeda stated that the SEC needs a more structured and proactive approach to promote innovation and combat fraud.
“Until now, the SEC has primarily acted on enforcement actions to regulate the crypto market,” Uyeda said. “This has led to legal uncertainty and a hostile environment for innovation. We can do better.”
Collaboration and strategy
The task force will work closely with SEC and public sector staff to create a regulatory path that remains within legal frameworks. Important points of attention are:
- Clear guidelines: Drawing clear legal lines to reduce uncertainty.
- Accessible registration processes: Creating realistic paths for companies that want to register.
- Efficient use of resources: The careful use of resources for enforcement and supervision.
The task force will also coordinate technical assistance with other government agencies, such as the Commodity Futures Trading Commission (CFTC), as well as with international partners.
Peirce’s response
Commissioner Hester Peirce emphasized the importance of collaboration: “This undertaking requires time, patience and hard work. Success depends on input from investors, market participants and other stakeholders. We want to create a regulatory environment that supports innovation and promotes market integrity.”
Public involvement
The task force invites the public to provide input via [email protected] and may host roundtable discussions in the future to encourage broader engagement.
This move marks an important development in the SEC’s efforts to implement a balanced policy that both protects investors and enables innovation in the crypto market.
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Source: https://newsbit.nl/geweldig-nieuws-sec-start-nieuwe-crypto-taskforce-onder-leiding-van-hester-peirce/
