The US Securities and Exchange Commission (SEC) has taken a major step toward clarifying the regulation of cryptocurrencies following the departure of its former chairman, Gary Gensler, on January 20.
On January 21, the agency announced the creation of a task force dedicated to developing a framework for digital assets.
This task force will be led by Commissioner Hester Peirce, commonly known as "Crypto Mom" for her positive stance on cryptocurrency regulation.
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The SEC stated the task force's role will be to establish clear regulatory boundaries, facilitate registration processes, establish sensible disclosure guidelines, and effectively allocate enforcement resources.
The group plans to engage in discussions and seek views from industry experts and stakeholders to address regulatory challenges in the cryptocurrency sector.