SEC Commissioner Hester Peirce, who now leads the agency’s crypto task force, has outlined its main priorities. The group aims to determine which digital assets do not qualify as securities and to develop a clear registration process for new tokens.
The task force also plans to analyze areas that fall outside the SEC’s jurisdiction and reassess the agency’s approach to token offerings.
Additionally, the team intends to propose a mechanism for temporary liability exemptions for token issuers, provided they take responsibility and disclose relevant information. The task force will also review lawsuits filed against crypto companies under former SEC Chair Gary Gensler.
Peirce emphasized the importance of collaboration with other government agencies as well as the crypto industry and its community.
“We welcome developers, enthusiasts, and skeptics to work with us in shaping final regulations and finding interim solutions that encourage innovation,” she stated.
One of the key figures joining the SEC’s crypto task force is Landon Zinda, former Policy Director at Coin Center, who has now been appointed as a senior advisor.
Reduction of SEC’s Crypto Enforcement Division
Meanwhile, the SEC is downsizing its crypto enforcement unit, which previously had over 50 employees. Some of them will be reassigned to other divisions.
According to The New York Times, among those reassigned is one of the division’s senior attorneys. Sources familiar with the matter have described the move as an “unfair demotion.”
Moving forward, SEC staff will only be able to initiate formal investigations with approval from politically appointed leadership. Without such authorization, they will not have the authority to request documents or witness testimony from crypto companies.
Although informal investigations will still be permitted, regulatory powers in such cases will be limited. One of the few remaining tools available is voluntary information requests.
Gary Gensler Returns to MIT
As a reminder, in January, former SEC Chair Gary Gensler returned to the MIT Sloan School of Management, where he will continue his academic work as a professor.
