Hester Peirce: Cryptocurrency Working Group proposes to recommend SEC action to provide temporary forward-looking and retroactive relief for token issuance

Odaily Planet Daily News: U.S. SEC Commissioner Hester Peirce said: "The Cryptocurrency Working Group is considering recommending that the SEC take action to provide temporary forward-looking and retroactive relief for token issuance, in which the issuing entity or other entity willing to assume responsibility provides certain specific information and keeps it updated, and agrees not to question the SEC's jurisdiction in cases alleging fraud related to the purchase and sale of assets." She also said: "We will work with the federal government, state securities regulators, and international counterparts. We invite builders, enthusiasts, and skeptics to explore with us what the final rules should be and what temporary measures may help promote innovation during this period." (The Block) Earlier news, the U.S. SEC launched a new cryptocurrency working group website. According to the webpage, the cryptocurrency working group aims to clarify the application of federal securities laws in the crypto asset market and propose practical policy measures to promote innovation and protect investors. The crypto working group works with committee staff and the public to help develop new approaches to crypto asset regulation. The Crypto Working Group will help draw clear regulatory lines that appropriately distinguish between securities and non-securities, develop a tailored disclosure framework, provide a practical registration path for crypto assets and market intermediaries, ensure that investors have the information they need to make investment decisions, and ensure that enforcement resources are deployed wisely.