During the month of January, the Securities and Exchange Commission (SEC) announced that its commissioner Hester Peirce was leading a working group on cryptocurrencies.

The “task force” will have to work on creating a regulatory framework for cryptocurrencies in the US, while clarifying the role of the SEC on the issue, which the agency failed to do under the presidency of Gary Gensler during the administration of Joe Biden. The SEC states about this working group:

The Crypto Task Force seeks to provide clarity on the application of the federal securities laws to the crypto asset market and to recommend practical policy measures that aim to foster innovation and protect investors. The Crypto Task Force collaborates with Commission staff and the public to help chart a new approach to the regulation of crypto assets. The scope of the Crypto Task Force’s focus will include assets colloquially referred to as digital assets, crypto assets, cryptocurrencies, digital coins and tokens, as well as protocols. The Crypto Task Force will help to draw clear regulatory lines, appropriately distinguish securities from non-securities, craft tailored disclosure frameworks, provide realistic paths to registration for both crypto assets and market intermediaries, ensure that investors have the information necessary to make investment decisions, and make sure that enforcement resources are deployed judiciously. The members of the Crypto Task Force look forward to engaging with members of the public on these issues through meetings, information requests and roundtable discussions. The Crypto Task Force’s work will coordinate with relevant regulators across the government.

The next few months could therefore be important for the regulation of cryptocurrencies in the US. Clearer and more conscious rules could be introduced.