The SEC’s statement regarding the commission doesn’t really provide much insight into what it will seek to do, other than “provide clarity” on the rules regulating the crypto industry. It will likely achieve that by just stripping back those rules altogether,

The SEC announced an initiative Tuesday to create a regulatory framework for digital assets with a new internal task force led by Republican commissioner Hester Peirce.

Peirce will lead the crypto task force, while Richard Gabbert, Uyeda’s senior advisor, and Tayler Asher, Uyeda’s senior policy advisor, will serve as chief of staff and chief policy advisor, respectively, according to an agency news release.