SEC holds crypto roundtable as Trump vows to boost US Dollar dominance
The US Securities and Exchange Commission’s (SEC) crypto task force held its first public meeting on Friday, focusing on how existing securities laws might apply to digital assets.
The discussion comes as the Trump administration explores changes to cryptocurrency regulations.
Participants included John Reed Stark, former chief of the SEC’s Office of Internet Enforcement; Miles Jennings, general counsel for Andreessen Horowitz’s crypto arm, a16z; and former SEC Commissioner Troy Paredes. Republican SEC Commissioner Hester Peirce is heading the task force, which is responsible for shaping new rules and guidance for the crypto industry.
“Spring signifies new beginnings and we have a new beginning here, a restart of the commission’s approach to crypto regulation,” Peirce said.
The crypto industry has long been at odds with regulators over how federal securities laws apply to digital assets. Many in the industry argue that crypto tokens function more like commodities than securities. If classified as securities, tokens would require firms to register with the SEC and provide disclosures to investors.
President Donald Trump has promised to reverse the SEC’s previous crackdown on the crypto industry under former President Joe Biden. The Biden-era SEC had sued multiple crypto firms, including Coinbase and Kraken, alleging violations of securities laws. The SEC’s new leadership has agreed to withdraw or suspend many of those cases.
The task force on Friday discussed whether crypto tokens need a distinct regulatory framework separate from the one used for traditional securities like stocks. Jennings called for a “technology-neutral” approach, suggesting that systems like Ethereum should be treated differently from corporate equity.
Some members of the commission raised concerns about creating a separate set of rules for crypto. Democratic SEC Commissioner Caroline Crenshaw warned that loosening regulations for digital assets could undermine broader market protections.
“Modifying the law to facilitate the success of a chosen product category is fraught with risk,” Crenshaw said. “Risk not only of weakening regulatory protections for that category, but of creating the negative domino effect on other areas of the market protected by the same laws.”
The meeting comes as Trump’s administration moves to reshape cryptocurrency policies. Earlier this month, Trump signed an executive order to establish a strategic reserve of cryptocurrencies and hosted a summit with industry leaders at the White House, where he reinforced his administration’s support for the crypto industry.
Trump: Crypto will boost US economic growth
President Donald Trump reinforced his support for the crypto industry during a pre-recorded speech at the Digital Asset Summit in Manhattan on Thursday. While he didn’t announce new policies, Trump expressed confidence that crypto would drive economic growth.
“Crypto is as big as you can get,” Trump said to a packed audience. He highlighted the potential for digital assets to improve the banking and payment system and promote privacy, security, and financial growth for businesses and consumers.
“Pioneers like you will be able to improve our banking and payment system and promote greater privacy, safety, security and wealth for American consumers and businesses alike,” he said. “You will unleash an explosion of economic growth.”
Trump noted that his administration has already stopped selling seized Bitcoin and brought together industry leaders with government officials to discuss regulatory issues.
“We’re ending the last administration’s regulatory war on crypto and Bitcoin,” he said, referencing Biden-era policies. “That includes stopping the lawless Operation Choke Point.” Trump called the previous approach to crypto regulation “a disgrace” and said his administration’s changes would give the industry more room to grow.
Since taking office in January 2025, Trump has signed two executive orders tied to digital assets. He also created a working group for digital assets and established a Bitcoin reserve using previously seized assets.
Speculation before the summit centred on whether Trump would address debanking or crypto taxes. While no new policies were announced, Trump reiterated his administration’s commitment to supporting the crypto industry.
“It’s an honour to speak with you about how the United States is going to dominate crypto and the next generation of financial technologies,” he said. “And it’s not going to be easy, but we’re way ahead.”
Trump has maintained a close relationship with the crypto industry over the past year, backing it through executive actions and policy changes aimed at rolling back Biden-era regulations.
(Image by Pixabay)
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