This is the Opinion of U.S. Officials on Cryptocurrency

The U.S. SEC's cryptocurrency task force is gathering opinions, information, and perspectives from the cryptocurrency industry to develop and issue appropriate legal regulations for the cryptocurrency sector. ‘Cryptocurrency is Not Innovation’ John Reed Stark expressed a strong opinion and stated that while he views AI as an innovation, he does not consider cryptocurrency to be an innovation. ‘The mission of the SEC is to protect investors’ Former SEC official John Reed Stark, who was also one of the participants in the seminar, raised important questions and reminded that cryptocurrency buyers are not collectors; they are investors and therefore need to be protected. Commissioner Hester Peirce wants fair regulations for cryptocurrency Hester Peirce criticized the SEC's previous approach to cryptocurrency companies, calling it unfair and emphasizing the need for fair regulation for the cryptocurrency industry. She argued that elections could impact regulatory policies, implying that the SEC could change its stance on cryptocurrency. Her comments bring hope for a transparent and balanced approach to digital asset management to help domestic cryptocurrency companies thrive. Opportunities, risk assessment, and more Speaker Chris Bummer shared about the challenges as well as the advantages. He stated, "What are those specific risks? There is always some level of ambiguity, but does the level of ambiguity reach a point where it becomes unmanageable? When it reaches that point, you have to assess a bit about the risks and opportunities before thinking creatively about how to tackle it." A new beginning for Crypto Commissioner Hester Peirce, head of the SEC's cryptocurrency task force, stated: "Spring marks a new beginning, and we are rebooting the Commission's approach to cryptocurrency." Important questions Commissioner Caroline Crenshaw said, "Will the proposed changes protect investors, the capital markets, and national security? This is crucial because the risks associated with cryptocurrencies are increasing, including their speculative nature." If the goal is to create a special rule for cryptocurrencies, how can those assets be clearly defined and distinguished from other types of assets to which those rules do not apply? Chairman Mark Uyeda began the discussion by addressing the challenges that cryptocurrency faces. He stated, 'Participants in this market, policymakers, and regulators are still grappling with important questions regarding the status of these assets.' The roundtable of the cryptocurrency task force The Crypto Task Force will kick off a series of roundtable meetings at 1 PM today ( US time ), focusing on key topics related to cryptocurrency asset regulation. Stay tuned for detailed information on how these discussions may shape the future of cryptocurrency regulations in the United States.