A total of 10 priorities have been identified, though Peirce noted that the list is neither exhaustive nor ranked by importance or expected completion. First on the list is determining the security status of various crypto assets. Peirce elaborated:
The status of crypto assets under the securities laws is fundamental to resolving many other questions. The Task Force is working hard to examine different types of crypto assets.
Next, the task force will work on defining the boundaries of the SEC’s jurisdiction, inviting no-action letter requests to clarify which crypto-related activities fall outside the agency’s authority. Third on the list is establishing a structured process that allows token offerings to obtain temporary relief while ensuring adequate disclosures, facilitating their trading on secondary markets.
Another priority will be reviewing and recommending modifications to existing securities registration frameworks, such as Regulation A and crowdfunding rules, to better accommodate token issuances. The task force will also examine potential updates to the special-purpose broker-dealer framework, particularly in relation to the custody of crypto assets classified as securities and non-securities. Peirce acknowledged that the current system has been ineffective and requires changes to allow broker-dealers to participate more effectively in the crypto market.
We need to provide clarity about whether crypto-lending and staking programs are covered by the securities laws and, if so, how. We plan to work to help address how such programs can be structured consistent with the law.
The task force will also focus on clarifying the regulatory framework for crypto exchange-traded products (ETPs). It will outline approval processes and explore modifications such as staking, though custody issues must first be resolved. Additionally, the group will assess improvements to clearing agency and transfer agent regulations and consider creating a cross-border regulatory sandbox to foster international cooperation. Peirce encouraged public engagement, stating: “If we collaborate, the journey will be exhilarating and rewarding.” The SEC will provide updates on the task force’s progress via its official webpage, inviting industry participants to contribute through written submissions and meetings.
Source:news.bitcoin.com
