The US SEC’s Crypto Task Force Holds First Meeting
The US Securities and Exchange Commission’s (SEC) crypto task force is set to convene its inaugural meeting later this month, focusing on establishing a regulatory framework for the crypto industry.
Key Points:
- First roundtable scheduled for March 21 at SEC headquarters in Washington DC
- SEC Commissioner Hester Peirce emphasizes public engagement in regulatory framework development
- Shift in SEC’s attitude towards crypto industry, reflected in dropped lawsuits
Meeting Details
The first roundtable discussion is scheduled for March 21 from 1 pm to 5 pm at the SEC’s headquarters in Washington DC. The session will focus on defining the security status of cryptocurrencies.
SEC Commissioner Hester Peirce, leading the Crypto Task Force, expressed her eagerness to involve public expertise in shaping the regulatory framework for crypto. She emphasized the significance of public engagement through roundtable discussions.
Changing Landscape
The SEC’s stance on the crypto industry has witnessed a transformation recently. With new pro-crypto individuals entering the government, including SEC chair Paul Atkins and acting chair Mark Uyeda, there has been a noticeable shift in approach.
Under former president Joe Biden’s administration, the SEC, led by crypto critic Gary Gensler, pursued lawsuits against various crypto platforms. However, in a surprising turn of events, the SEC has dropped several of these lawsuits in recent weeks, including ones against Coinbase, Gemini, Kraken, Robinhood Crypto, and Uniswap.
While some view this as a positive development, others like Gemini’s co-founder Cameron Winklevoss remain critical of the agency’s past actions. Winklevoss noted that while the dropped lawsuit against Gemini is a milestone, it does little to compensate for the damage caused by the SEC to the crypto industry.
Conclusion
The SEC’s upcoming roundtable discussions and the evolving regulatory landscape underscore the dynamic nature of the crypto industry and the importance of public engagement in shaping its future.
