SEC Commissioner Moves The Crypto Community With A List Of Priorities. Read Them Here

After Trump won, significant changes occurred in the US crypto landscape. The US SEC (Securities and Exchange Commission) created an all-new Crypto Task Force. This regulatory body is created with the sole intention of bringing regulation to the crypto community.

Hester Piece will spearhead this Crypto Task Force under the guidance of Mark Uyeda. Soon after its formation, the regulatory body decided to lay down some priorities that could help the body inch towards its goals. 

This could prove significant for the community as it might change how the trading environment works.

Understanding The Significant Priorities 

According to Pierce, the task force will start by tackling the basics. For example, creating clearer and more adaptive classifications of digital assets. It will actively make efforts to classify crypto coins as securities and commodities. As a result, people who are new to this community might find it easy to understand.

Secondly, the organization wants to streamline the overall trading operations. In other words, it wants to clarify the proper settlement process for tokenized securities. This will make the landscape more streamlined for operation. 

Third, the Task Force wants to experiment and make the landscape more secure and safe. This move could help investors secure their digital assets and avert scam activities. For this, Pierce has clearly stated, “As the Task Force works to help develop this regulatory framework, it will give careful consideration to antifraud protections. If the Commission spots fraud that lies outside our jurisdiction, it can refer the matter to a sister regulator.”

 Fourth, The Task Force wants to create a regulatory framework that can help the commission protect investors and foster participation. The framework would be in tandem with the statutory authority of itself and other sister organizations.

Finally, the new regulatory body has clarified that it will not endorse any crypto token separately. The organization stated that “the new commitment to a better regulatory environment should not be viewed as an endorsement of any crypto coin or token. Regardless of whether those tokens or coins fall within our jurisdiction.” 

The organization has assured that these regulatory points will not affect people’s trading freedom. The organization officially stated, “In this country, people generally have a right to make decisions for themselves, but the counterpart to that wonderful American liberty is the equally wonderful American expectation that people must decide for themselves.” 

Hence, it will be interesting to see how the all-new Task Force will shape the crypto landscape for the future.

End Note: Inching Towards Regulations 

The aggressive new approach of the Trump administration for crypto might be the next big chapter in the history of the crypto trading community. This aggressive restructuring of digital asset trading can make the process more streamlined. Or it could make the whole process more rigid. 

Therefore, it will be interesting to see what the future holds. For now, the crypto community is slowly inching towards a more regulated nature. Therefore, the next few months could be crucial for the officials and investors.