This move follows an executive order from President Trump aimed at boosting digital asset growth by easing regulations. Some insiders see these reassignments as a setback for crypto enforcement, with at least one senior attorney already transferred out of the enforcement division.
The move now begs questions about the cases that the SEC had ongoing, including the lawsuit against Ripple. The SEC recently pulled the case from its website. However, it has not dismissed it yet, leaving room for speculations.
Acting SEC Chairman Mark Uyeda launched a new task force to re-evaluate the agency’s digital asset strategy. Commissioner Hester Peirce, an outspoken proponent of crypto innovation, will lead the task force.
Peirce stated that the task force will focus on redefining asset classifications. It will also transfer some enforcement duties outside the SEC’s jurisdiction. However, it will maintain strict measures against fraud.
Meanwhile, White House Crypto Czar David Sacks and Senate leaders held a press conference to introduce the Digital Assets Working Group. Their key goal is to explore the creation of a national Bitcoin reserve. Currently, 15 states are considering Bitcoin as a strategic reserve asset. A new stablecoin bill is also being drafted for Congress.
These developments signal a shift in the U.S. government’s approach to crypto regulation.
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2025-02-05 02:33:29
