U.S. Securities and Exchange Commission Commissioner Hester Peirce published a new paper on Feb. 4, outlining key objectives for the agency’s newly created Crypto Task Force.

In the paper, titled The Journey Begins, Peirce acknowledges that the SEC has struggled to define its approach to cryptocurrency. Over the past decade, regulatory uncertainty, inconsistent policies, and legal ambiguity have shaped the crypto landscape.

However, she views the launch of the Crypto Task Force, which she is leading, as an opportunity to move forward with a framework that balances innovation and investor protection.

“It took us a long time to get into this mess, and it is going to take us some time to get out of it. The Commission has engaged with the crypto industry in one form or another for more than a decade,” she wrote.

Key objectives of the Task Force

Peirce is advocating for a more structured approach and has outlined several key objectives:

• Clarifying the security status of crypto assets
• Providing temporary relief for token issuers
• Creating viable registration pathways
• Updating broker-dealer regulations
• Addressing custody rules for investment advisors
• Defining regulations for crypto lending and staking
• Improving crypto exchange-traded products
• Enhancing clearing and settlement for tokenized securities
• Encouraging international collaboration
• Identifying areas outside of the SEC’s jurisdiction

While Peirce acknowledges that the road ahead will be challenging, she remains optimistic that collaboration can lead to a more predictable and innovation-friendly regulatory environment.

“If we collaborate, the journey will be exhilarating and rewarding. This is the beginning of the conversation—one we do not want to have just with ourselves,” she concluded.