Key Points:
- The SEC crypto enforcement unit has been slashed, staff transferred as part of a regulatory shift under the Trump administration.
- Acting SEC Chairman Mark T. Uyeda established a working group led by Commissioner Hester Peirce to reassess digital asset classifications and regulations.
The U.S. Securities and Exchange Commission (SEC) is scaling back a specialized enforcement unit dedicated to cryptocurrency regulation, according to the New York Times.
Read more: SEC Chair Gary Gensler Now Officially Resigns From His Position
SEC Crypto Enforcement Team Has Been Scaled Back
The SEC crypto enforcement division, which previously comprised over 50 lawyers and staff, played a key role in overseeing compliance within the digital asset sector.
The restructuring aligns with the Trump administration’s broader push to ease regulations on cryptocurrencies and digital assets. One of President Trump’s initial executive orders emphasized fostering cryptocurrency development while reducing what the administration termed “regulatory overreach.”
Some members of the SEC crypto enforcement division are being reassigned to different divisions within the agency. A senior lawyer from the group was reportedly transferred, a move some sources described as a demotion. The reassignment is part of a larger reshuffle under Acting SEC Chairman Mark T. Uyeda, who has made several high-level appointments since assuming his role.
Government Strengthens Focus on Crypto Policy
Uyeda also established a working group to reassess the SEC’s stance on digital assets. This initiative is led by SEC Commissioner Hester Peirce, a vocal advocate for the cryptocurrency industry. Peirce stated that the new task force will work to classify various types of digital assets and activities to determine which should be regulated as securities—a longstanding concern within the crypto sector.
The SEC also launched a dedicated website for its crypto task force, inviting industry and public input. Meanwhile, White House Crypto Czar David Sacks, alongside Senate leaders, held a press conference outlining the objectives of the newly formed Digital Assets Working Group.
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