Why the SEC’s new crypto task force passes the vibe check
The new task force shows that crypto’s officially entering a new era
Tada Images/Shutterstock modified by Blockworks
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I’m happy to announce that we can officially retire the term “regulation by enforcement.” It can now join “cautiously optimistic” and “soft landing” on the shelf of terms nobody needs to hear anytime soon.
Yesterday, acting chair Mark Uyeda announced that Hester Peirce — known around here as Crypto Mom for her dissents over the SEC’s approach to the space — would head up a new taskforce: Crypto 2.0.
With Gary Gensler officially out of the building, it’s now abundantly clear that the SEC is serious about crypto companies coming in and registering. Don’t believe me? Just look at what Uyeda said in the press release: Crypto 2.0 “will succeed only if the Task Force has input from a wide range of investors, industry participants, academics and other interested parties.”
If you’re an avid Empire reader, I’m sure you’ve noticed the optimistic tone David and I have carried for a few months now. We’ve been saying that the winds of change have shifted the vibe. This week just proved it.
The launch of Trump’s coin led to some confusion and criticism (some of it, like I talked about yesterday, is justified) but the SEC’s newest task force shows that it’s looking to ensure a framework that actually works for the industry.
Whether this means that the current lawsuits, including the one the SEC filed against Helium’s Nova Labs on Friday, will be dismissed is still up in the air.
Remember that Haynes Boone partner Matthew Frankle told us earlier this month that we could perhaps see cases dropped as the SEC adopts a friendlier approach.
The vibes are high, Crypto Mom is in charge, and we’re soo back.
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