U.S. SEC Cryptocurrency Working Group Announces Inaugural Roundtable on March 21
According to Fox Business journalist Eleanor Terrett, two sources have revealed on the X platform that the U.S. SEC’s Cryptocurrency Task Force will hold a series of roundtable discussions with industry participants under the theme “Spring Sprint Towards Crypto Clarity.” The first session is scheduled for March 21 at the SEC headquarters in Washington, D.C., with the initial discussion likely focusing on “Defining Security Status.”
The SEC Cryptocurrency Task Force was established on January 23, 2025, at the request of U.S. President Donald Trump. Its primary mandate is to propose new digital asset regulations and explore the possibility of creating a national cryptocurrency reserve, aligning with Trump’s election pledge to rapidly reform U.S. crypto policies.
The task force is led by David Sacks, Trump’s appointee as AI and Cryptocurrency Commissioner. Its members include top officials from multiple government agencies, such as the U.S. Treasury Secretary, Attorney General, Secretary of Commerce, SEC Chairman, and CFTC Chairman. This composition underscores the government’s strong commitment to digital asset regulation and its emphasis on cross-agency collaboration.
Since taking office, the Trump administration has consistently advocated for a regulatory approach driven by innovation and efficiency, aiming to enhance the nation’s financial competitiveness through digital transformation. As the global digital asset market rapidly evolves, the U.S. government sees the need to balance market security and risk prevention while fostering a regulatory environment conducive to innovation and competition. This strategic vision is reflected in the establishment of the SEC Cryptocurrency Task Force and the recent White House cryptocurrency conference.
On March 7, the White House hosted a high-level meeting on cryptocurrency and digital asset regulation, attracting government officials, regulatory agencies, industry leaders, and academics. Participants widely acknowledged that while the crypto market has matured, it also presents significant security and regulatory challenges. The discussions focused on how to strengthen anti-money laundering (AML) measures, enhance consumer protection, and mitigate systemic risks while maintaining market vitality.
Although opinions on the White House crypto meeting were mixed, one undeniable takeaway is that within just two weeks, the U.S. government — specifically the Trump administration — has convened two top-level cryptocurrency discussions: the White House crypto conference and the SEC Cryptocurrency Task Force’s first roundtable meeting. These events underscore the administration’s strong stance on crypto market development, its commitment to digital asset regulation, and its cross-agency coordination efforts.
From Classification Disputes to Legislative Practices: Key Pathways Revealed by Recent SEC Actions
Restructuring the Definition of Securities
The first roundtable discussion held by the SEC working group was themed “Defining Security Status,” directly confronting the long-standing industry dispute over the applicability of the Howey Test. Hester Peirce, the current head of the working group and SEC Commissioner, explicitly stated that priority would be given to excluding certain tokens (such as utility tokens) from the securities category, thereby narrowing the SEC’s jurisdiction. This stance aligns with the position of Paul Atkins, the SEC Chairman nominee appointed by Trump, who has criticized former Chairman Gensler’s overreach in enforcement and advocated for clarifying boundaries through legislation rather than litigation.The Paradox of Accelerated and Delayed Stablecoin Legislation
Although the March 7 White House Cryptocurrency Summit was criticized as a “political show,” it revealed key legislative directions: Trump announced plans to push for stablecoin legislation. Meanwhile, Treasury Secretary Scott Bessent pledged at the summit to “end the crackdown on digital asset regulation” and emphasized the role of stablecoins in maintaining U.S. dollar dominance.Cross-Agency Collaboration and Power Redistribution
To resolve the long-standing regulatory turf war between the SEC and CFTC, Trump has strengthened coordination through an interagency working group. For instance, the CFTC may be granted more authority over spot market regulation, while the SEC will focus on security tokens and ETF products.
Trump’s Stance on Cryptocurrency: Balancing Prudent Regulation and Innovation
From the various initiatives undertaken by the Trump administration in the digital asset sector in recent years, its overall strategy can be summarized as “balancing prudent regulation with innovation-driven growth.” On one hand, the government encourages enterprises and financial institutions to explore blockchain technology and cryptocurrency applications to secure a competitive edge in the global digital economy. On the other hand, it is committed to strengthening the regulatory framework to mitigate financial risks and curb illegal activities such as money laundering. The establishment of the SEC Cryptocurrency Working Group is a key manifestation of this strategy.
- Clear Regulatory Goals: Risk Prevention as the Top Priority
The Trump administration has explicitly stated in White House meetings that while the rapid expansion of the cryptocurrency market injects fresh vitality into economic development, it also carries significant risks. Issues such as cross-chain bridge vulnerabilities, virtual asset price volatility, and market manipulation pose serious threats to investors.
To address these challenges, the administration plans to set strict regulatory standards through the SEC Cryptocurrency Working Group, ensuring that all digital asset trading platforms and projects comply with national security and consumer protection requirements. Specific measures include:
Enhancing KYC (Know Your Customer) and AML (Anti-Money Laundering) protocols
Improving regulatory information-sharing mechanisms
Promoting interagency collaboration to establish a comprehensive digital asset risk prevention framework
- Regulatory Transformation Driven by Innovation
At the same time, the Trump administration recognizes that traditional regulatory approaches are inadequate for the fast-evolving digital economy. To address this, the government aims to leverage blockchain and artificial intelligence (AI) technologies to modernize regulatory models.
By implementing real-time data monitoring and automated execution through smart contracts, regulators can achieve full transparency in market transactions. This not only enhances regulatory efficiency but also significantly reduces risks caused by human intervention and information lag.
David Sacks, head of the SEC Cryptocurrency Working Group, stated in a media interview that the future of U.S. digital asset regulation will shift from reactive oversight to a dynamic management system based on big data, real-time monitoring, and early-warning mechanisms.
- Cross-Agency Collaboration: Building a Secure Digital Ecosystem
The Trump administration has emphasized the importance of interagency cooperation in advancing cryptocurrency regulatory reforms. Agencies including the SEC, CFTC, Department of Justice, Department of Commerce, Treasury Secretary, and key congressional committees will all participate in the formulation and implementation of digital asset policies.
Through efficient integration of regulatory resources and information-sharing, the government aims to eliminate data silos and policy conflicts between agencies. By establishing unified standards and coordinated actions, the U.S. seeks to set a global benchmark for cryptocurrency regulation, ensuring a stable and sustainable industry.
Conclusion
Fundamentally, Trump’s cryptocurrency policy represents a regulatory experiment — loosening restrictions to foster innovation while using stablecoins to reinforce financial dominance. However, its success hinges on finding a balance between “market liberalization” and “systemic risk.”
The March 21 SEC roundtable meeting and subsequent legislative progress will be a crucial milestone in evaluating this experiment. If policy implementation is delayed or risk management fails, not only could Trump’s “crypto revival” narrative collapse, but it might also introduce new uncertainties in the global regulatory race.
