The U.S. Securities and Exchange Commission’s (SEC) newly formed Crypto Task Force has begun engaging with key industry figures, including Strategy founder Michael Saylor, to shape a regulatory framework for digital assets.
Those meeting with the task force also include members of the Crypto Council for Innovation, representatives from Coinbase, OpenSea, and Robinhood.
Michael Saylor Advocates for Crypto Growth in SEC Meeting
According to the SEC record, approximately 20 industry representatives participated in a discussion with the task force on Feb. 21. The meeting focused on defining different categories of digital assets, establishing clear guidelines for issuers and exchanges, and ensuring that regulations foster innovation rather than hinder it.
Robinhood had a separate meeting with the task force earlier on Feb. 19, while Saylor also held an individual discussion with regulators on the same day as the broader industry meeting.
A key topic of discussion was the delineation of rights and responsibilities in the crypto market. Issuers were emphasized as needing to maintain fair disclosure and ethical standards when launching new digital assets.
According to the task force, crypto exchanges would be responsible for ensuring the security and proper handling of client assets, while owners of digital assets would retain control over their holdings while complying with legal requirements.
Michael Saylor presented a broad digital asset framework, advocating for a significant expansion of the crypto market beyond Bitcoin. While he mentioned Bitcoin only a few times, his proposal underscored the potential for digital assets to grow from the current $1 trillion market capitalization to $590 trillion, with the U.S. playing a leading role in this expansion.
Strategy’s $2 Billion Bitcoin Purchase Marks Largest of the Year
Meanwhile, Strategy made headlines earlier today with the announcement of a major crypto purchase. The firm acquired approximately $2 billion worth of Bitcoin, marking the largest acquisition in the sector this year. This latest purchase brings Strategy within 904 BTC of holding half a million coins.
The acquisition was funded through Strategy’s market-based equity program, following a fully subscribed $2 billion convertible notes offering. With the newly opened spreadsheet, the company controls more than 2% of the total BTC supply on the market.
The meeting between Michael Saylor and industry leaders also opens up new opportunities for the development of cryptocurrencies in the US as regulations under President Trump are said to be softer.
The SEC’s Crypto Task Force was launched on Jan. 21 under Acting Chairman Mark T. Uyeda, with Commissioner Hester Peirce leading the initiative. Its mission is to develop a clear and comprehensive regulatory framework for digital assets, addressing key concerns such as defining regulatory boundaries, creating registration pathways, and enhancing disclosure requirements.
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