SEC’s Crypto Pivot Begins With Hester Peirce’s 10-Point Plan

Key Takeaways

• SEC Commissioner Hester Peirce has unveiled a 10-point agenda for the newly established Crypto Task Force.
• The action plan proposes key changes to the SEC’s current approach to digital assets.
• Peirce emphasizes the need for better regulatory clarity and collective action to undo past injustices in the crypto space.

Securities and Exchange Commission (SEC) Commissioner Hester Peirce, a long-time proponent of clearer crypto regulations, recently outlined a 10-point action plan that the SEC’s newly formed Crypto Task Force will focus on in the coming months.

Peirce, appointed to lead the task force, emphasized the need for comprehensive changes to the SEC’s approach toward digital assets. As the head of the task force, she aims to provide regulatory clarity and bring much-needed consistency to the evolving crypto landscape.

The 10-Point Crypto Task Force Plan

Peirce’s agenda covers a wide range of crucial issues and marks a shift toward more pragmatic regulation. The task force’s goals are aimed at reducing ambiguity and providing a fairer regulatory framework for crypto-related activities. The key points include:

Clarifying Security Status: The task force is evaluating the security status of various digital assets. It will also work on identifying areas outside the SEC’s jurisdiction.

Expanding Jurisdiction: The task force will help delineate which areas fall beyond the Commission’s purview. They plan to open up communication by accepting requests for no-action letters from both companies and the broader crypto community.

Coin and Token Offerings: A temporary relief mechanism will be put in place for coin and token offerings that meet certain transparency standards. This could allow these assets to trade freely on secondary markets without needing to register with the SEC.

Modifying the Registration Process: The SEC hopes to make it easier for companies to register token offerings by modifying the existing registration processes to create a more viable pathway.

Expanding Broker-Dealer Scope: The task force will examine the possibility of extending the role of broker-dealers to include crypto lending and custody services. This would allow crypto lending and staking programs to fit within existing securities laws.

Custody Solutions for Investment Advisors: There will be a focus on clarifying the regulatory framework for investment advisers who wish to custody client assets, whether by themselves or via a third party.

Crypto-Lending and Staking Regulations: The task force plans to clarify the application of securities laws to crypto-lending and staking programs, ensuring these can be structured in compliance with the law.

Crypto Exchange-Traded Products: The group will assist in the approval and disapproval processes for exchange-traded products (ETPs) while also working to modify rules that allow for staking and in-kind creations and redemptions.

Clearing Agencies and Transfer Agents: The task force will collaborate with market participants who are interested in tokenizing securities or leveraging blockchain technology to modernize traditional financial markets.

Cross-Border Sandbox Programs: The task force aims to introduce cross-border sandbox initiatives to assess the feasibility of cross-border services using crypto assets.

Peirce’s Leadership and Vision

Peirce, a staunch advocate for Bitcoin and crypto, has been vocal about the need for clear and consistent regulatory frameworks.

She has long criticized the SEC’s lack of action under former Chairman Gary Gensler’s leadership , and now, with the creation of the Crypto Task Force, Peirce intends to enact meaningful change.

In a statement, Peirce stressed the task force’s collaborative nature. It will work closely with other divisions within the SEC, federal and state securities regulators, and international counterparts.

She also highlighted one early success: the rescinding of Staff Accounting Bulletin (SAB) 121 , which had prohibited traditional financial firms from providing crypto custody services.

The rollback of SAB 121 was one of the first actions taken under Trump-appointed Acting Chair Mark Uyeda, signaling a shift in the SEC’s approach under new leadership.

Peirce concluded by emphasizing that the task force’s goal is not just to create new regulations but to provide real clarity and fairness to the crypto space, offering a lifeline to an industry that has long faced uncertainty and inconsistent oversight.