On January 21, 2025, the US Securities and Exchange Commission (SEC) announced the formation of a crypto task force aimed at creating a regulatory framework for digital assets. This initiative follows the departure of former Chair Gary Gensler. The task force will be led by Commissioner Hester Peirce, known for her supportive stance on crypto regulation. Commissioner Mark Uyeda, currently serving as Acting Chair, outlined that the task force aims to establish clear regulatory guidelines, paths for registration, and sensible disclosure practices while judiciously deploying enforcement resources. The team will include Richard Gabbert and Taylor Asher in senior advisory roles and will engage in discussions with industry representatives to address regulatory challenges. The SEC's regulatory approach has mainly involved enforcement actions against crypto firms under previous administrations, which intensified under President Biden following the FTX collapse. Trump's administration is anticipated to introduce clearer regulations for crypto businesses, particularly concerning security classifications and federal oversight, in line with his campaign promises.

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