The U.S. Securities and Exchange Commission’s (SEC) Crypto Task Force has been actively engaging with crypto firms to discuss regulatory issues. Throughout early February, the task force conducted meetings with several influential organizations, focusing on staking, exchange-traded products (ETPs), and digital asset classification. Notable participants included the Blockchain Association, Jito Labs, Multicoin Capital, Nasdaq, Andreessen Horowitz, and Sullivan & Cromwell.
SEC’s Crypto Task Force Discusses Staking, ETPs
The Blockchain Association, a prominent crypto lobbying group, met with the SEC on February 4 to outline key regulatory priorities. The organization recommended clearer guidelines for digital assets, standardized policies for broker-dealers, custodians, and exchanges, and uniform criteria for crypto-based ETPs. The group also urged the SEC to reconsider previous regulatory decisions that may have impeded industry growth, aligning with recent remarks from Commissioner Hester Peirce on regulatory retrospection.
On February 5, representatives from Jito Labs and Multicoin Capital addressed the SEC regarding staking in exchange-traded products. The firms argued that staking is integral to proof-of-stake blockchain networks such as Ethereum (ETH) and Solana (SOL) and should be included in ETP offerings. Their discussion followed the SEC’s approval of spot Ether ETFs in 2023, which did not incorporate staking rewards. Jito Labs and Multicoin Capital expressed optimism about the potential inclusion of staking in future Solana-based ETP proposals.
🚨NEW: The @SECGov Crypto Task Force is keeping a log of all of its meetings with industry players.
So far the task force has met with @BlockchainAssn, @jito_labs & @multicoincap, @Nasdaq and Colin Lloyd, a partner at @sullcrom’s Commodities, Futures and Derivatives and Capital… pic.twitter.com/DxfMMuf0TB
— Eleanor Terrett (@EleanorTerrett) February 14, 2025
Andreessen Horowitz’s AH Capital Management engaged with the SEC on February 5 to discuss digital asset classification and the regulatory framework for token issuance. The firm emphasized the necessity of well-defined rules to support innovation while ensuring compliance within the sector.
During a February 6 meeting, Nasdaq representatives called on the SEC to establish uniform policies for trading venues dealing with digital assets. The exchange operator contended that non-securities cryptocurrencies should be allowed to trade alongside securities within the same regulatory framework to maintain consistency.
Colin D. Lloyd, a partner at Sullivan & Cromwell, participated in discussions on February 7, focusing on the intersection of securities law and blockchain technology. The firm, known for its past legal work related to FTX, raised concerns about legal uncertainties affecting the industry.
Also Read: Michigan Proposes Bitcoin Reserve Bill, Becoming 20th U.S. State to Pursue Crypto Legislation
