SEC Unveils New Executive Staff, Including Three Members of the Crypto Task Force

Acting Chairman Mark Uyeda Announces Appointments

The U.S. Securities and Exchange Commission’s (SEC) Acting Chairman Mark Uyeda has unveiled a list of the agency’s newly-appointed executive staff, including three members of the Crypto Task Force. The appointments aim to provide a comprehensive and clear regulatory framework for crypto assets, working closely with Congress, the crypto industry, and the Commodity Futures Trading Commission (CFTC).

Crypto Task Force Appointees

Two of the task force’s appointees come from within the SEC’s ranks. Richard Gabbert, who formerly served as a counsel to crypto-friendly task force head Commissioner Hester Pierce, will be its chief of staff, as well as a senior advisor to Uyeda. Taylor Asher, who was previously a senior policy advisor to Uyeda, will be the task force’s chief policy advisor.

Landon Zinda: Counsel to Uyeda and Senior Advisor for the Task Force

The other named appointee, Landon Zinda, previously served as policy director for crypto think tank Coin Center. Prior to his work for Coin Center, Zinda worked for two crypto-friendly congressmen, Sen. Pat Toomey (R-Pa.) and Rep. Tom Emmer (R-Minn.).

Formation of the Crypto Task Force

The SEC announced the formation of the new Crypto Task Force last month, just one day after former Chairman Gary Gensler stepped down. The task force will focus on developing a comprehensive and clear regulatory framework for crypto assets, working closely with both Congress and the crypto industry, as well as sister regulatory agency the CFTC, according to the press release announcing its formation.

New Approach to Crypto Regulation

The formation of the Crypto Task Force comes as the agency overhauls its approach to crypto regulation, moving away from the practice of so-called regulation by enforcement that became standard practice under former Chairman Gensler. The SEC has acknowledged that its previous approach has led to confusion about what is legal, creating an environment hostile to innovation and conducive to fraud.

Conclusion

The SEC’s new executive staff and the formation of the Crypto Task Force mark a significant shift in the agency’s approach to regulating the crypto industry. With the appointment of three members of the task force, the agency aims to provide a comprehensive and clear regulatory framework for crypto assets, promoting innovation and reducing the risk of fraud. As the agency continues to develop its new approach, it remains to be seen how it will impact the crypto industry and its stakeholders.

FAQs

Q: What is the purpose of the Crypto Task Force?
A: The purpose of the Crypto Task Force is to develop a comprehensive and clear regulatory framework for crypto assets, working closely with Congress, the crypto industry, and the Commodity Futures Trading Commission (CFTC).

Q: Who are the appointees to the Crypto Task Force?
A: The appointees to the Crypto Task Force are Richard Gabbert, Taylor Asher, and Landon Zinda.

Q: What is the significance of the formation of the Crypto Task Force?
A: The formation of the Crypto Task Force marks a significant shift in the SEC’s approach to regulating the crypto industry, moving away from the practice of regulation by enforcement and towards a more comprehensive and clear regulatory framework.

Q: What is the expected impact of the new approach to crypto regulation?
A: The new approach to crypto regulation is expected to promote innovation and reduce the risk of fraud, creating a more favorable environment for the crypto industry and its stakeholders.

Q: Who will the Crypto Task Force work with?
A: The Crypto Task Force will work closely with Congress, the crypto industry, and the Commodity Futures Trading Commission (CFTC).