The U.S. Securities and Exchange Commission’s (SEC) crypto task force convened its first public meeting with industry experts on Friday, signaling a potential shift in cryptocurrency regulations under the Trump administration.
The discussion focused on whether existing securities laws apply to digital assets and whether a separate regulatory framework is necessary.
The task force, led by Republican SEC Commissioner Hester Peirce, is tasked with developing new rules and guidance for the crypto industry. “Spring signifies new beginnings, and we have a new beginning here—a restart of the commission’s approach to crypto regulation,” Peirce said during the roundtable.
Key participants included John Reed Stark, former chief of the SEC’s Office of Internet Enforcement; Miles Jennings, general counsel for Andreessen Horowitz’s crypto arm, a16z; and former SEC Commissioner Troy Paredes. The debate centered on whether crypto tokens should be regulated as securities, which would require firms to register with the SEC and provide investor disclosures.
The crypto industry has long argued that digital assets function more like commodities than traditional securities. Jennings called for a “technology-neutral” regulatory approach, distinguishing systems like Ethereum from equity ownership in companies such as Apple. However, Democratic SEC Commissioner Caroline Crenshaw cautioned against easing regulations for cryptocurrencies, warning of potential risks to broader financial markets.
The meeting comes as President Donald Trump moves to reverse the SEC’s crackdown on crypto firms under the previous administration. The Biden-era SEC had sued multiple companies, including Coinbase and Kraken, for allegedly violating securities laws.
The new SEC leadership has since withdrawn or paused many of those cases.
In line with Trump’s broader push for pro-crypto policies, the administration recently signed an executive order establishing a strategic reserve of cryptocurrencies and hosted a White House summit for industry leaders. As the regulatory landscape evolves, the crypto industry is closely watching how the SEC balances innovation with investor protection.
