Acting SEC chair unveils crypto task force

That was fast.

The Securities and Exchange Commission’s acting chair, Mark Uyeda, a Republican appointed by President Trump on his first day in office, “launched a crypto task force dedicated to developing a comprehensive and clear regulatory framework for crypto assets,” the agency said on Tuesday.

The digital assets industry has been asking for regulation, and on the campaign trail, Trump said his administration would be crypto-friendly.

The newly minted task force will be tasked with developing a regulatory path for crypto, as well as improving the registration process for digital coins—the lack of which, the SEC said in its release, has led to “confusion about what is legal, which creates an environment hostile to innovation and conducive to fraud.”

While Uyeda announced the task force, SEC commissioner Hester Peirce will lead it. Uyeda’s current post is temporary: Former SEC Commissioner Paul Atkins will take over on a permanent basis once confirmed.

“We look forward to working hand-in-hand with the public to foster a regulatory environment that protects investors, facilitates capital formation, fosters market integrity, and supports innovation,” Peirce said in a statement.

Keep in mind: Former SEC chair Gary Gensler stepped down just one day before Tuesday’s announcement. That was all according to plan. While Gensler’s term wasn’t up until 2026, it’s customary for SEC chairs to step down when new presidential administrations take over. (Trump also promised to fire Gensler “on day one” of his presidential term, so…)

Gensler’s tenure as SEC chair was marked by crypto industry clashes, as Gensler took an aggressive stance on crypto oversight. Now, it’s clear the SEC under Trump will look drastically different than the last four years.