The Securities and Exchange Commission (SEC) has announced the members of its new Crypto Task Force, which includes a former big-law crypto lawyer and several other prominent figures from the cryptocurrency and legal industries. Mike Selig, who was previously a New York-based partner at Willkie Farr & Gallagher LLP specializing in crypto-related legal matters, has been named the chief counsel of the task force. Before joining Willkie, Selig gained experience in regulatory matters by interning at the Commodity Futures Trading Commission (CFTC).
Other noteworthy appointees include Veronica Reynolds, a former attorney at Baker Hostetler LLP with a focus on NFTs and metaverse-related legal issues, and Landon Zinda, the former policy director at the crypto think tank Coin Center. Both Reynolds and Zinda will serve as senior advisors to the task force. Chris Giancarlo, former CFTC Chairman and senior counsel at Wilkie Farr, congratulated Selig on his new role in a public statement.
New members join Crypto Task Force
Giancarlo, known affectionately as “CryptoDad,” has been a mentor to Selig and praised his expertise and readiness for the position. Last October, Selig proposed several suggestions for the SEC to shift away from the “regulation by enforcement” approach that was prevalent under former Chair Gary Gensler.
Some of his recommendations, such as rescinding the controversial Staff Accounting Bulletin 121 and withdrawing from certain lawsuits, have already been implemented by the new Crypto Task Force. Commissioner Hester Peirce, who leads the Crypto Task Force, emphasized the team’s commitment to addressing complex regulatory issues in the crypto space. “The Crypto Task Force exhibits deep expertise and an enthusiastic commitment to identifying workable solutions to difficult crypto regulatory problems,” Peirce stated.
The task force will host its first roundtable discussion on March 21, titled “How We Got Here and How We Get Out – Defining Security Status,” as part of a series focused on crypto regulation. The roundtable discussions and new appointments are anticipated to shape the SEC’s approach to regulating digital assets, fostering clarity and addressing the evolving crypto landscape.
