SEC Commissioner Hester Pierce has announced the formation of a Crypto Task Force to improve regulatory clarity in the cryptocurrency industry. The crypto market saw a decline, with Bitcoin dropping to $98,206.16 and XRP experiencing the steepest decline of 7.32% due to a network halt. Altcoins like Ethereum and Solana also saw decreases in price. Despite the market volatility, Bitcoin's dominance increased to 60.40%. The new task force aims to streamline regulations and provide clearer frameworks for cryptocurrencies amidst increasing scrutiny from regulators worldwide.



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