In this segment from the Forward Guidance newsletter, Hester Peirce, the leader of the SEC's crypto task force, provided an update on their progress. Peirce criticized the SEC's previous approach to crypto and expressed the need for more clarity and practicality. The SEC plans to scale back staff focused on crypto enforcement actions while prioritizing the classification of crypto assets under securities laws. They also intend to identify areas outside of their jurisdiction, create a custody framework, clarify regulations for crypto lending and staking programs, and establish a cross-border sandbox for crypto projects. Peirce emphasized that the SEC is working towards these goals in an orderly and legally defensible manner, but it will take time to address the existing challenges and achieve desired changes.



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