“SEC launches ‘cryptocurrency task force’ under Trump administration: detailsThe SEC, under Trump’s leadership, is forming a cryptocurrency working group to develop a clear regulatory framework. The
initiative is aimed at ensuring transparency of the $3.7 trillion cryptocurrency market.”, — write: unn.ua
Details
According to CNBC , on Tuesday, January 21 , the Donald Trump administration announced the first real step towards reducing regulation for the cryptocurrency industry by introducing an initiative to create a common regulatory framework for digital assets.
The U.S. Securities and Exchange Commission (SEC) has announced that Acting Chairman Mark Ueda has launched a “cryptocurrency task force” that will focus on providing transparency for the $3.7 trillion cryptocurrency market. The initiative will be led by SEC Commissioner Hester Pierce.
According to the SEC, the commission’s task will be to develop a clear set of rules and resolve issues related to the registration of coins.
We look forward to working hand-in-hand with the public to create a regulatory environment that protects investors, fosters capital formation, promotes market integrity and supports innovation
Following this announcement, the bitcoin rate rose by about 2.4% to over $106 thousand.
It is noted that shortly before his inauguration, Trump emphasized his support for digital currencies by issuing his own meme coin called $TRUMP, while First Lady Melania Trump issued a meme coin called $Melania. Both tokens quickly rose in value before plummeting.
The White House’s view of cryptocurrencies is sharply different from that of Joe Biden when he was president. Then-SEC Chairman Gary Gensler was considered an enemy of the industry
The Cryptocurrency Working Group plans to organize public hearings and solicit opinions from various stakeholders, including investors, academics, and industry leaders. It also plans to collaborate with other federal agencies, such as the Commodity Futures Trading Commission (CFTC), to unify regulations.
Recall
Donald Trump planned to create a cryptocurrency advisory council at the beginning of his presidency. The new body will have up to 20 members and will assist the government in formulating favorable policies for the crypto market.