The U.S. Securities and Exchange Commission (SEC) has announced the launch of its “Spring Sprint Toward Crypto Clarity,” a series of roundtables aimed at clarifying the security status of digital assets. The first event, titled “How We Got Here and How We Get Out – Defining Security Status,” is scheduled to take place on March 21 at the SEC’s Washington, D.C. headquarters.

SEC’s Crypto Task Force

The roundtables are part of the SEC’s Crypto Task Force, launched in January by Acting Chair Mark Uyeda. Led by Commissioner Hester Peirce, the task force aims to bring clarity to crypto regulations and engage with the industry. According to Peirce, the roundtables will “draw on the expertise of the public” to help shape a regulatory framework that makes sense for crypto.

Objectives of the Roundtables

The primary objective of the roundtables is to clarify the security status of digital assets, which has been a topic of debate in the crypto community. The SEC has fast-tracked its efforts to provide clarity on this issue, following the introduction of the MEME Act, a bill that blocks federal officials from launching, endorsing, or promoting digital assets.

The SEC’s Division of Corporation Finance has also weighed in on the issue, concluding that meme coins do not meet the definition of security under the Howey test. However, the agency stressed that its stance is not legally binding and is merely a staff interpretation with “no legal force or effect.”

Crypto Task Force Members

The SEC has unveiled its list of members for its Crypto Task Force, which includes staff from Acting Chairman Mark Uyeda’s office, along with representatives from multiple divisions within the agency. Key members include:

  • Michael Selig, former partner at Willkie Farr & Gallagher, who will serve as chief counsel.
  • Sumeera Younis, Peirce’s former policy counsel, who will run operations.
  • Richard Gabbert, Taylor Asher, and Landon Zinda, who bring different regulatory and policy expertise to the table.

Former CFTC chair and Willkie senior counsel Chris Giancarlo has expressed support for Selig’s new role, calling him a “protégé” and expressing excitement about the team’s direction.

Stay informed about the latest developments in the world of cryptocurrencies and investing with Global Crypto News. From regulatory updates to market analysis, we provide you with the information you need to stay ahead of the curve.

Post Views: 0