US SEC’s Announcement of New Regulatory Task Force Boosts Cryptocurrency

Bitcoin and the broader cryptocurrency market maintained their gains following the establishment of a task force by the Securities and Exchange Commission focused on US digital asset regulations. This initiative is part of President Donald Trump’s broader acceptance of the sector.

Key players in the industry have consistently pointed to the need for regulatory clarity as a top priority during Trump’s second term. Supporters are hopeful for a supportive regulatory environment that could enhance interest and investment in digital assets.

As of 7:20 a.m. Wednesday in Singapore, Bitcoin was trading at approximately $106,000, nearing its record peak of $109,241 reached on Monday before Trump’s inauguration. The rest of the cryptocurrency market showed mixed results, with assets such as Ether and Solana fluctuating within narrow ranges as the Asian trading session commenced.

According to the SEC, the task force intends to create a “comprehensive and clear” regulatory framework. The initiative will be spearheaded by Hester Peirce, a commissioner known as “Crypto Mom” for her opposition to the SEC’s enforcement actions against cryptocurrency firms.

Aaron Kaplan, co-CEO of Prometheum, stated that an SEC strategy focused on “regulation by engagement” could allow “the crypto industry to innovate with clear guardrails” and could “spark a significant transition from electronic to digital markets.”

Prior to his inauguration, Trump and First Lady Melania launched memecoins, which are unstable tokens lacking any underlying assets or practical utility.

The Trump coin achieved a market capitalization of up to $15 billion but has since decreased to around $9 billion, based on data from CoinMarketCap. Meanwhile, the Melania coin has dropped by more than half its market cap, currently resting at about $800 million.

Trump is anticipated to create a more welcoming regulatory landscape for cryptocurrencies and issue an executive order indicating the sector as a national priority. Many in the industry are also hopeful that he will establish a US Bitcoin reserve.

Initially skeptical about cryptocurrencies, the president shifted his stance as the industry invested significant funds into campaign efforts in the lead-up to the US elections. He now aims to position the nation as a central hub for the global digital asset market.

© 2025 Bloomberg

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