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US SEC Crypto Task Force Holds First Roundtable Amid Trump’s Push for Regulatory Overhaul

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The U.S. Securities and Exchange Commission (SEC) crypto task force convened its first public meeting on Friday, focusing on how existing securities laws might be applied to the rapidly evolving digital asset market. The session is part of a broader push to establish clearer guidelines as the Trump administration looks to reshape the U.S. regulatory landscape for cryptocurrency.

Key figures at the roundtable included John Reed Stark, former head of the SEC’s Office of Internet Enforcement, Miles Jennings, general counsel for a16z crypto, and former SEC Commissioner Troy Paredes. Leading the task force is Republican SEC Commissioner Hester Peirce, who emphasized that the meeting marked a “new beginning” in the commission’s approach to crypto regulation.

The crypto industry has long contended with the SEC over how digital assets should be classified under federal securities laws. Many within the sector argue that tokens should be treated as commodities, not securities, which would exempt them from the SEC’s registration and disclosure requirements.

Trump, who campaigned as a “crypto president,” has pledged to reverse the regulatory crackdown initiated under the Biden administration. This includes withdrawing or pausing several legal cases against crypto companies like Coinbase and Kraken. The task force discussed the potential need for a distinct regulatory framework tailored specifically to digital assets, rather than applying traditional securities laws.

While some, like Jennings, advocated for a “technology-neutral” approach, others, such as Democratic SEC Commissioner Caroline Crenshaw, expressed concern over loosening regulations for cryptocurrencies. Crenshaw warned that creating a separate regulatory regime could weaken protections and harm broader market stability.

This meeting is part of Trump’s broader effort to overhaul U.S. cryptocurrency policies, including his recent executive order to establish a strategic reserve of digital assets and a summit for industry leaders at the White House.

Deutsche Boerse’s Clearstream to Launch Bitcoin and Ether Custody Services

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Deutsche Boerse is set to offer cryptocurrency custody and settlement services to institutional clients starting next month, marking a major step into the crypto space. The company’s Clearstream division, known for its settlement services, will now provide custody for Bitcoin and Ether, the two largest cryptocurrencies by market capitalization.

Key Details:

  • Launch date: April
  • Service offered: Custody and settlement for Bitcoin and Ether, with potential for adding more cryptocurrencies based on demand.
  • Sub-custodian: Crypto Finance, a subsidiary of Deutsche Boerse.

Expansion into Crypto

Deutsche Boerse, a major German exchange, began its foray into cryptocurrency services with the launch of a crypto trading platform for institutional investors in 2023. Offering crypto custody services is now part of Clearstream’s strategy to digitize financial markets, according to Jens Hachmeister, Clearstream’s head of issuer services and new digital markets.

Growing Crypto Adoption in Europe

The move comes after the European Union’s Markets in Crypto-Assets regulation (MiCA) was introduced in 2023, setting clear rules for crypto activities across Europe. Clearstream’s new service is part of a broader trend of European financial institutions moving into digital assets, with Crypto Finance having secured a MiCA license in January.

Industry Comparison

Deutsche Boerse joins a growing list of global custody providers like Bank of New York Mellon and State Street, which also offer crypto custody services. BBVA, a Spanish bank, is another notable institution expanding into the digital asset space by offering Bitcoin and Ether trading in Spain.

The move to institutionalize cryptocurrency services reflects growing mainstream financial interest in crypto assets, especially with U.S. regulators easing rules for banks to engage with digital currencies.

Coinbase Registers with Indian Financial Watchdog to Offer Crypto Trading

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Coinbase Global, the U.S.-based cryptocurrency exchange, has registered with India’s Financial Intelligence Unit (FIU), paving the way for its entry into the Indian crypto market. This registration allows Coinbase to offer crypto trading services in compliance with India’s financial regulations. The company announced on Tuesday that it plans to launch initial retail services later this year, with further investments and product offerings to follow, though a specific timeline has not been disclosed.

India has seen a surge in cryptocurrency interest, particularly among young investors eager to explore digital assets as an alternative income source. Local crypto exchanges such as CoinDCX, Binance, and KuCoin already operate in the country.

“India represents one of the most exciting market opportunities in the world today, and we’re proud to deepen our investment here in full compliance with local regulations,” said John O’Loghlen, Coinbase’s regional managing director for Asia Pacific.

Under Indian law, virtual digital asset service providers, including crypto exchanges, must register with the FIU as reporting entities and adhere to the country’s anti-money laundering regulations. While India imposes a 30% tax on crypto trading gains—one of the highest globally—it has yet to establish comprehensive regulations for the sector.

The government’s stance on cryptocurrencies is under review, influenced by evolving global regulations and recent U.S. policy changes, particularly following Donald Trump’s presidential victory last year. A senior official indicated last month that India is closely monitoring international trends before finalizing its approach to crypto regulation.