New SEC Crypto Task Force Signals a Major Shift in Crypto Oversight

The U.S. SEC creates task force to develop crypto rules and bring clarity to the fast-growing digital asset sector. This new initiative, led by Commissioner Hester Peirce, gathers experienced SEC officials and crypto industry specialists.

The task force’s primary goal is to move away from the previous enforcement-driven approach and instead focus on establishing practical guidelines for the industry. With mounting pressure from both industry players and lawmakers, this step signals a potential change in the way the agency interacts with the crypto sector.

Big SEC Crypto News: Moving Away from an Enforcement-Heavy Approach

For years, the SEC has been accused of regulating digital assets through litigation rather than providing a clear legal framework. However, with this new initiative, the agency appears to be pivoting toward a more structured regulatory process.

As part of this shift, the SEC has rebranded its enforcement division, previously known as the Crypto Assets and Cyber Unit, into the Cyber and Emerging Technologies Unit (CETU). This reorganisation suggests a renewed focus on cyber-related fraud and misconduct, rather than aggressively pursuing crypto businesses.

Key Figures and Industry Experts Join the Task Force

The task force’s leadership includes several notable figures with deep regulatory and legal expertise. Richard Gabbert, a longtime SEC staffer and former counsel to Peirce, has been named chief of staff. Michael Selig, previously a partner at Willkie Farr & Gallagher, will serve as chief counsel.

Other members include Taylor Asher, who advised former Commissioner Mark Uyeda, and Landon Zinda, previously associated with Coin Center, a think tank advocating for crypto-friendly policies. Also joining the team is Veronica Reynolds, a former attorney at Baker Hostetler LLP, specialising in NFTs and metaverse-related regulations.

This blend of insiders and crypto specialists suggests that the agency is looking to balance its enforcement priorities with a more collaborative approach toward industry regulation.

What’s on the Agenda?

The SEC launches Crypto Task Force with several priorities, including:

• Clarifying the security status of crypto assets through policy recommendations.
• Exploring regulatory exemptions and compliance pathways for crypto firms.
• Reevaluating SEC jurisdiction over different types of digital assets.
• Providing guidelines for token registration and market intermediaries.
• Engaging with Congress, state regulators, and the public to shape a more workable regulatory framework.

To address these topics, the SEC has announced a roundtable discussion on March 21, titled “How We Got Here and How We Get Out — Defining Security Status”. This event is part of a larger initiative, the Spring Sprint Toward Crypto Clarity, aimed at gathering insights from crypto firms, policymakers, and legal experts.

The Bigger Picture: Political Influence and Industry Expectations

The task force’s formation aligns with the current administration’s more favorable stance on crypto. President Donald Trump has already taken steps to reduce regulatory pressure on digital assets, including creating the President’s Working Group on Digital Asset Markets.

This move signals a broader shift in how crypto is regulated in the U.S. If certain digital assets are deemed outside of SEC jurisdiction, the regulatory landscape could change significantly. Some industry experts believe that future oversight may shift toward other federal agencies, reducing the SEC’s control over the sector.

For now, the task force’s creation is seen as a positive step by industry players. With Commissioner Peirce leading the charge, there is hope that this initiative will bring real regulatory clarity—but time is running out, as Peirce’s term is set to expire in June 2025.

Conclusion

With the SEC Crypto Task Force officially in place, the industry is watching closely to see if this marks a genuine shift toward clearer, more practical regulations. While the agency has previously relied on enforcement actions, this initiative may finally offer the framework the crypto sector has been demanding.