MICA Daily | After Trump took office, SEC established the "Cryptocurrency Regulatory Special Group"

After the Trump administration took office on January 20th, former SEC chairman Gary Gensler also stepped down and announced the establishment of a special Cryptocurrency regulation task force. The task force is led by Commissioner Hester Peirce, who is known as 'Crypto Mom' for her support of Cryptocurrency regulation. In the future, they will focus on formulating and rationalizing regulatory laws, as well as relaxing regulations. They plan to hold roundtable discussions to gather industry insights on regulatory challenges, and collaborate with the Commodities Futures Trading Commission (CFTC), states, and international regulatory agencies.

The establishment of this panel was announced by acting SEC chairman Mark Uyeda, who will temporarily assume the role of chairman until the appointment of the next chairman, Paul Atkins, is confirmed. The new chairman is also friendly to cryptocurrencies, and investors expect him to further relax regulations. In contrast to the past, where the SEC primarily regulated the encryption industry through enforcement actions, Trump's second term is expected to propose a clearer regulatory path for cryptocurrencies, including the classification of tokens as securities and federal regulatory scope.

After taking office, Trump has not expressed his opinion on Cryptocurrency, but the market expects his executive orders, such as the possibility of establishing a federal Bitcoin reserve. On the first day of his inauguration, the SEC special group was established as the first step in relaxing the encryption coin policy. However, it still needs to be observed to what extent it can be relaxed. We still believe that the market investors are overly optimistic about the current atmosphere.

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<MICA Daily | After Trump took office, SEC established a "Cryptocurrency Regulatory Task Force"> This article was first published in Blocklike.