On February 4, 2025, SEC Commissioner Hester Peirce, who chairs the newly announced Crypto Task Force, released a statement regarding initial plans for the Task Force, including:

• Resolving the status of crypto assets under securities law
• Identifying areas that fall outside of the SEC’s jurisdiction, including through the no-action letter process
• Considering the recommendation of temporary prospective and retroactive relief for coin or token offerings under certain conditions (i.e., the issuing entity provides specified information, keeps such information updated and agrees not to contest the SEC’s jurisdiction in the event of a case alleging fraud)
• Working with SEC staff to recommend the modification of existing paths to registration, including Regulation A and crowdfunding
• Exploring possible updates to the special-purpose broker dealer no-action statement, such as expanding it to cover broker-dealers that custody crypto asset securities alongside crypto assets that are not securities
• Working with investment advisers to provide an appropriate regulatory framework within which advisers can “safely, legally, and practically” custody client assets themselves or with a third-party
• Clarifying the treatment of crypto-lending and staking programs under securities laws
• Working with the staff to provide clear statements about the approach used when approving or disapproving self-regulatory organization proposed rule changes and assisting the SEC in considering requests to modify certain features of existing exchange-traded products
• Working on the intersection of crypto and clearing agency and transfer agent rules to modernize traditional financial markets
• Considering ways to facilitate cross-border experimentation on a limited scale and temporary timeframe, with the possibility of more permanent, long-term approaches

The statement also includes ways to engage with the Crypto Task Force including:

• Written submissions. A person may send an e-mail with the subject line “Crypto Task Force Input” to crypto@sec.gov. Documents submitted will generally be posted on www.sec.gov. without change or redaction of personal identifying information, although confidential treatment may be requested.
• In-person or virtual meetings. Members of the public may request a meeting by completing a form and providing a brief written summary of the issues that they plan to discuss which will be posted on the SEC’s website. Like written submissions, summaries will be posted without changes, although confidential treatment may be requested.