The SEC’s Crypto Task Force roundtable on April 11, 2025, focused on crypto trading regulation. Acting Chairman Mark Uyeda proposed a time-limited exemptive relief framework to foster blockchain innovation while developing long-term rules, addressing challenges like unregistered tokenized securities and compliance with SEC’s Rule 611. Commissioner Hester Peirce emphasized accommodating pairs trading and avoiding regulatory gaps, suggesting limited-scale market testing. Commissioner Caroline Crenshaw highlighted retail investor protection, noting mismatches in expectations versus reality, such as lack of FDIC/SIPC insurance and risks of omnibus wallets. The discussion underscored the need for clear, tailored regulations to balance innovation, investor safety, and market integrity, with input from diverse industry panelists.

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