Yerevan (CoinChapter.com) - The U.S. Securities and Exchange Commission (SEC)'s Crypto Task Force met with representatives of the Blockchain Association on February 4 to discuss regulatory challenges facing the digital asset industry. According to SEC records, the association outlined six key priorities. These priorities include the need for clearer collateral regulation, guidance on exchange-traded products (ETPs), and a more innovative approach to brokers, custodians, and exchanges.


The Blockchain Association urged the SEC to establish uniform ETP standards and ensure that protocol pledges are not classified as securities. The organization also called for a review of past SEC rulings, arguing that these rulings were a misunderstanding of the law. Commissioner Hester Peirce had previously suggested a retroactive regulatory review to correct these issues.
Additionally, the association pushes for consistent rules across trading venues to reduce uncertainty for market participants. The organization believes that regulatory clarity will provide a stable foundation for crypto businesses and ensure compliance with federal laws.

Jito Labs discusses staking in crypto ETPs with Multicoin Capital
On February 5, Jito Labs and Multicoin Capital met with the SEC’s Crypto Task Force to discuss the inclusion of staking in ETPs. The companies see staking as a fundamental component of proof-of-stake (PoS) tokens and emphasize its role in securing blockchain networks.
The discussion comes after the SEC approved a spot Ethereum (ETH) ETP last year. This required issuers to remove staking rewards from their funds. However, Jito and Multicoin Capital noted that the SEC may now be willing to reconsider staking in ETH and other crypto ETPs. They also mentioned the new application for the Solana (SOL) ETP, suggesting that staking may be included in future applications.

Andreessen Horowitz on Token Classification
On February 5, 2025, the U.S. Securities and Exchange Commission (SEC) Crypto Task Force met with representatives of AH Capital Management, LLC (Andreessen Horowitz) to discuss regulatory approaches to crypto assets. The meeting focused on token classification, issuance, and the role of market intermediaries in handling digital assets. Andreessen Horowitz emphasized the need for clear regulatory definitions to guide market operations.
The company highlighted the continuous evolution of crypto tokens and the impact of their classification on market dynamics. They believe that the SEC's regulatory framework should take into account decentralized finance (DeFi) models and avoid applying outdated rules that may not be consistent with current technologies. This approach aims to promote innovation while ensuring compliance in the crypto industry.
Additionally, Andreessen Horowitz provided documents during the conference to support their views on effective crypto asset regulation. These materials are intended to facilitate a comprehensive discussion on creating a balanced regulatory environment that protects investors while taking into account the unique characteristics of digital assets.

Nasdaq pushes for regulatory clarity on crypto trading venues
On February 6, 2025, Nasdaq representatives met with the SEC Crypto Task Force to discuss regulatory approaches for digital asset trading platforms. Nasdaq emphasized the need to clearly and pragmatically distinguish between digital asset securities and commodities. They believe that such clarity is essential to determining the appropriate regulatory jurisdiction, whether it is the SEC, the Commodity Futures Trading Commission (CFTC), or both. They suggested that in the case of ambiguity in classification, a common regulatory framework acceptable to both parties should be established, incorporating core regulatory features such as investor protection.
In addition, Nasdaq advocates for a regulatory framework that allows non-security digital assets to be traded on the same platform as securities. They believe that this approach will provide consistent regulatory oversight, enhance transparency, and bring the crypto market closer to traditional financial markets. Nasdaq also expressed support for the task force's efforts to bring regulatory clarity to digital assets. This will emphasize the importance of a framework rooted in existing federal securities laws and designed to take into account the unique characteristics of digital asset securities.
Additionally, Nasdaq stressed the importance of providing temporary relief to existing digital asset issuers and trading venues until a permanent regulatory regime is established. However, they warned that these temporary solutions should be clearly temporary and have expiration dates to prevent them from becoming de facto permanent measures.

Sullivan and Cromwell discuss securities law in blockchain
On Feb. 7, bankruptcy law firm Sullivan & Cromwell and former FTX advisor Colin D. Lloyd met with the SEC’s Crypto Task Force. Discussions focused on how securities laws apply to blockchain technology and its evolving regulatory environment.


The company provided insights into the legal challenges associated with crypto asset classification, investor protection, and enforcement actions. The conference also discussed the legal framework that may guide crypto-related court cases and ensure that market participants comply with federal securities laws.

SEC Crypto Task Force: US lawmakers review crypto regulation after Trump's election
The election of Donald Trump has led to expectations of a shift in U.S. crypto market policy. The SEC’s Crypto Task Force was formed the day after Trump’s inauguration and is currently led by Hester Peirce. Peirce has pledged to address the “regulatory mess” left by former SEC Chairman Gary Gensler, who initiated more than 125 enforcement actions against crypto companies.


On February 11, the U.S. House of Representatives Subcommittee on Digital Assets, Fintech, and Artificial Intelligence held a hearing, inviting five key witnesses to discuss the future of crypto regulation. Participants included:
Most importantly, the debate highlighted ongoing concerns about regulatory uncertainty, with crypto industry leaders calling for a more structured framework to support market growth.