SEC discusses crypto regulation changes amid Trump's plans

The U.S. Securities and Exchange Commission (SEC) held its first public meeting of a new crypto task force on Friday. The task force discussed how current securities laws may apply to digital assets. This meeting comes amid plans from the Trump administration to change how cryptocurrencies are regulated. The roundtable included various experts, such as John Reed Stark, a former SEC official, and Miles Jennings, legal counsel for Andreessen Horowitz's crypto division. Hester Peirce, a Republican commissioner, leads the task force. She emphasized that this represents a fresh start for the SEC's approach to cryptocurrency regulation. The crypto sector often argues that tokens should be treated as commodities, not securities. If tokens are classified as securities, companies must register with the SEC and follow specific rules. President Trump has promised to roll back some regulatory actions taken by the previous administration, which initiated legal actions against several crypto firms like Coinbase and Kraken. During the meeting, participants discussed whether digital tokens need a separate set of rules. Jennings suggested that the SEC should consider the technology behind cryptocurrencies instead of treating them the same as traditional stocks. However, some members, like Democratic SEC Commissioner Caroline Crenshaw, raised concerns that easing regulations for cryptocurrencies could harm investor protections and disrupt other areas of the market. Trump's administration is moving quickly on cryptocurrency policy. Recently, he signed an executive order to create a reserve of cryptocurrencies and held a summit with industry leaders to discuss the future of digital assets.