On January 21, 2025, the SEC announced the formation of a new Crypto Task Force. Styled “Crypto 2.0” in the SEC press release, the announcement signals a shift in the agency’s approach to the digital asset sector coincident with the change in presidential administrations.

The task force will be led by Commissioner Hester Peirce and draw on staff from around the agency. Its mission is to “collaborate with Commission staff and the public to set the SEC on a sensible regulatory path that respects the bounds of the law.” The task force anticipates future roundtables and invites the submission of public comments. It will also coordinate with other state and federal agencies, including the Commodity Futures Trading Commission.

The SEC press release announcing the task force’s creation is somewhat critical of the agency’s prior approach to regulating digital assets, noting that the agency “relied primarily on enforcement actions to regulate crypto retroactively and reactively, often adopting novel and untested legal interpretations along the way.” The press release noted, “Clarity regarding who must register, and practical solutions for those seeking to register, have been elusive.” The announcement concludes, “The SEC can do better.”

The crypto industry heavily supported the candidacy of President Trump, and the President’s nominee for SEC chairman, Paul Atkins, is likely to support a reset of the SEC’s approach to regulating the sector. After the crypto winter, it appears spring is coming to the SEC.