SEC Crypto Task Force Discusses Regulatory Framework with Industry Leaders

On February 21, the SEC Crypto Task Force convened with industry leaders, including Michael Saylor, the Crypto Council for Innovation, and MITRE Corporation, to discuss a regulatory framework for crypto assets in the U.S. The meeting, as per SEC memos, involved reviewing a document that classifies digital commodities like Bitcoin, digital securities, fiat-backed currencies, utility tokens, NFTs, and ABT assets. The proposed framework emphasizes fair disclosure, transparent custody, and adherence to local laws, suggesting standardized disclosures and industry-led compliance. Saylor highlighted the potential for faster asset issuance and a stronger U.S. dollar through strategic Bitcoin reserves. The Crypto Council for Innovation recommended clarifying regulations for staking services and blockchain data platforms, while MITRE Corporation presented research on stablecoin regulation and cyber threat frameworks. The discussions aimed to balance investor protection with fostering innovation in the digital asset space.