In a move that could make the dusty trails of U.S. crypto regulation a bit smoother, a new law is paving the way for clearer skies and greener pastures for SEC-regulated firms, aiming to bring stability to the wild world of stablecoins.
Commissioner Peirce Calls on SEC-Regulated Firms—Help Shape Crypto Rulebook Now
It seems like the U.S. crypto landscape is finally getting a bit of the old Western spirit, where the law is written and rewritten by those who dare to ride the range. U.S. Securities and Exchange Commission (SEC) Commissioner Hester Peirce announced on July 18 that the GENIUS Act, now officially inked into law, has cleared up the murky waters surrounding payment stablecoins by declaring them not securities. 🎉
With both state and federal banking agencies now saddled with the responsibility of overseeing these digital dollars, the law brings a sense of order to the chaos. Peirce emphasized that the SEC must also adjust its lasso to better fit the new landscape, ensuring that stablecoins can be safely woven into the fabric of capital markets. In a post on the social media platform X, she shared:
The GENIUS Act got signed into law today, and I look forward to working with SEC-regulated entities to integrate payment stablecoins safely into our capital markets. 🚀
Peirce’s comments underscore the SEC’s Crypto Task Force’s mission to turn the legislative blueprint into practical guidelines. “The GENIUS Act, by putting a regulatory framework around them, aims to protect current and future users and the financial system,” she explained. “The act charges state and federal banking regulators with overseeing payment stablecoin issuers. This clear direction from Congress should also spur the SEC to offer guidance on how SEC registrants can use—and accommodate their customers’ use of—payment stablecoins.” 📜
Launched in January, the SEC’s Crypto Task Force, led by the ever-vigilant Commissioner Peirce, marks a shift from the old “regulation by enforcement” cowboy tactics to a more collaborative, community-driven approach. The task force aims to clarify the often-confusing classifications of digital assets, develop tailored disclosure standards, and provide clear registration pathways. Peirce is keen on bringing transparency and public input to the forefront, shaping a more constructive and inclusive crypto regulatory framework.
Peirce issued a direct call to the industry:
I invite investors and market participants regulated by the SEC to engage with the Crypto Task Force on what the Commission needs to do, in light of the GENIUS Act, to ensure that SEC registrants interacting with payment stablecoins can serve their customers effectively, efficiently, and safely. 🙌
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2025-07-19 10:58