SEC Forms Crypto Task Force Led by Hester Peirce: Ripple Reacts

  • SEC introduces a new task force focused on developing crypto asset regulations.
  • Commissioner Hester Peirce will lead the initiative to enhance transparency in the crypto market.
  • Ripple’s Stuart Alderoty has expressed optimism about the task force’s potential to improve crypto regulations.

The U.S. Securities and Exchange Commission (SEC) has launched a task force focused on creating a regulatory framework for cryptocurrency assets. Led by Republican Commissioner Hester Peirce, aka “Crypto Mom,” the initiative is seen as a pivotal step toward clarifying crypto regulations in the U.S.

SEC’s New Task Force for Crypto

The SEC’s new task force, announced on Tuesday, is designed to address the growing need for clear regulations in the cryptocurrency market. This move marks a significant development for the digital asset industry and the first official action of the Acting Chair Mark Uyeda after being appointed by President Trump on Monday.

Related: SEC’s First Meeting in January 2025: Will Ripple Lawsuit See Resolution?

Spearheaded by Commissioner Peirce, the initiative aims to establish rules to bring stability and confidence to the crypto market. Also, the SEC’s announcement emphasized that the task force will engage with industry participants to create a more transparent and predictable regulatory environment.

Hester Peirce, who has long advocated for a more balanced regulatory approach to crypto, will be key in guiding the task force. The SEC’s action follows a period of heightened uncertainty in the crypto industry plagued by countless enforcement actions.

Part of the objectives for the task force include developing clearer regulatory boundaries, better registration processes for firms, and comprehensive disclosure guidelines.

Related: Ripple vs. SEC: Why the Appeal Could End in Ripple’s Favor

Meanwhile, Peirce’s leadership brings a sense of optimism to the industry, as her previous efforts to promote innovation-friendly policies have garnered support from the crypto community.

Ripple Reacts to Regulatory Changes

Stuart Alderoty, Ripple’s Chief Legal Officer, welcomed the creation of the task force. He criticized the previous administration’s regulatory approach, calling it confusing and detrimental to innovation.

Accordingly, he expressed delight that, under a new leadership, pro-active efforts are in progress to improve the crypto industry regulation.

“I’m looking forward to working with the Crypto Task Force to undo the prior administration’s damage,” he said.

The SEC has also stated that the task force will selectively enforce regulations to address violations without stifling technological progress. It plans to collaborate with other federal agencies, including the Commodity Futures Trading Commission (CFTC), to ensure cohesive oversight.

Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.

Related Posts

What’s Next for US-Made Cryptos? Price Prediction for XRP, Solana, and ONDO in February 2025

XRP’s breakout above $3.22 could signal further bullish momentum toward $3.50. Solana faces key resistance at $260, with potential upside to $280 if broken. Ondo’s consolidation could lead to breakout…

TRUMP, DOGE, BONK  ETFs Spark Debate: Are Meme Coins Ready for Wall Street?

TRUMP coin sparks regulatory filings for seven meme coin ETFs, including DOGE and BONK.   REXShares and Osprey Funds aim to launch the first TRUMP coin-focused ETFs.   The SEC has formed…

Leave a Reply

Your email address will not be published. Required fields are marked *