The US Securities and Stock Exchange Commission (SEC) created a new task force to reduce regulatory uncertainties in the crypto currency market. The team of 14 people, chosen from different departments, aims to strengthen the existing regulatory strategies of the SEC. It is stated that the task force will work to improve the audit processes for the crypto money market and to increase the trust of the sector stakeholders.
Structure and Working Areas of the Mission Power
SEC’s task force will operate under the leadership of General Manager Hester Pierce. The team includes critical positions such as assistant general manager, chief advisor and operations officer, as well as 10 senior consultants. This structure was designed to develop the regulatory frame and to transparen the market.
The main purpose of the new team is to clarify regulatory policies for the crypto money market. In this context, it will be one of the tasks to determine the criteria for the classification of crypto currencies as securities. In addition, it is aimed to develop audit mechanisms in order to protect investors and to prevent market manipulations.
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Hester Pierce emphasized that different perspectives were utilized in the establishment of the task force. He said that the team will focus on providing more efficient solutions, taking into account the criticisms of existing regulatory policies.
Changes in the regulatory approach
SEC, recently appointed deputy President Mark Uyeda under the leadership of the task force began to use the power. The new strategy aims to adopt different approaches to provide legal clarity in the crypto money market and increase investor confidence.
In particular, it is stated that SEC will follow a more guiding and solution -oriented strategy instead of the sanction -oriented arrangements implemented in the past. This change will allow market players to provide a healthier communication with SEC.
The steps taken by the task force are expected to provide a more sustainable framework by reducing regulatory barriers in the crypto money market. The new approach of the SEC aims to increase market stability as well as protecting investors.
Responsibility Rejection: The information contained in this article does not contain investment advice. Investors should be aware that crypto currencies carry high volatility and thus risk and carry out their operations in line with their own research.
