New SEC Leadership Brings Changes and Initiatives as Crypto Task Force Launches

In January 2025, the US Securities and Exchange Commission (SEC) underwent significant leadership changes and initiated new regulatory approaches

The United States Securities and Exchange Commission (SEC) has undergone significant leadership changes and initiated new regulatory approaches, particularly concerning cryptocurrency.

Last month, Gary Gensler stepped down as SEC Chair, following President Donald Trump's appointment of Mark T. Uyeda as Acting Chairman and plans to nominate Paul Atkins for the permanent Chair role. Atkins previously served as an SEC Commissioner from 2002 to 2008.

Katherine Dowling, general counsel of Bitwise, shared her perspectives on the situation and the surge in ETF filings.

According to Dowling, the SEC is experiencing a period of uncertainty as it awaits the confirmation of its new chair. The agency appears to be holding back on providing specific directives for handling ongoing litigations and regulatory matters.

“We're seeing some interesting initiatives, like the launch of a new SEC crypto task force and the conclusion of Staff Accounting Bulletin 121 (SAB 121), which are hinting at a shift towards a more collaborative and clear regulatory framework for digital assets,” she said.

“But we still need to see definite guidance, especially concerning assets like XRP and SOL, which have faced classification challenges as securities. Assets not classified as securities, like DOGE, may have a clearer path to ETF approval.”

Latest Moves and Initiatives in Crypto Regulation

On January 21, Acting Chairman Uyeda announced the creation of a crypto task force to be led by Commissioner Hester Peirce, who is known for her pro-crypto stance. The task force will work on developing a comprehensive and clear regulatory framework for crypto assets, moving away from the prior “regulation-by-enforcement” approach.

Its objectives include setting clear guidelines, offering practical routes for crypto entities to register, developing sound disclosure rules, and using enforcement resources wisely. The task force will work with Congress, federal agencies like the Commodity Futures Trading Commission (CFTC), and international counterparts to achieve these goals.

The crypto industry has welcomed these developments, viewing them as a shift towards clearer regulations and away from the previous administration's stringent enforcement actions.

However, as Dowling pointed out, it's still unclear how the new SEC leadership will handle assets such as XRP, SOL, and even DOGE, and which of these will get the final ETF approval.

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