Michael Saylor and Crypto Leaders Meet SEC Task Force to Push for Clear Regulations

The U.S. Securities and Exchange Commission (SEC) is facing growing calls to bring more clarity to crypto regulations. Fox Business journalist Eleanor Terrett recently reported that MicroStrategy co-founder Michael Saylor met with the SEC’s Crypto Task Force on Friday.

Meanwhile, members of the Crypto Council for Innovation (CCI)—including Coinbase, OpenSea, and Robinhood—have also met with the task force, advocating for regulatory changes.

Saylor and Industry Leaders Press for Reform

According to the SEC’s website, around 20 industry representatives met with the agency’s crypto task force on Friday. Saylor used the meeting to highlight his priorities for crypto regulation, while Robinhood had its own meeting with the task force earlier on February 19.

“While Congress continues to pursue much needed legislation, the Commission has—and has had since 1996—the authority now to establish at least a basic, provisional regulatory regime for digital assets,” said Dan Gallagher, Robinhood’s chief legal, compliance and corporate affairs officer in the memo.

Gallagher noted that the SEC could already take steps to create rules for registration, anti-fraud protections, and custody. The meeting reflects an effort from both regulators and industry leaders to bring more structure to the fast-growing crypto sector.

Key Topics: Securities Classification and Stablecoins

During their discussions with the SEC, CCI members raised important concerns, such as when cryptocurrencies should be classified as securities. They also sought confirmation that fully backed 1:1 dollar stablecoins are not securities.

Saylor, in his meeting, stressed the need for a clear classification system for digital assets and a solid regulatory framework for the industry.

SEC Rethinks Its Approach to Crypto Regulation

Recently, the SEC has been shifting its stance on crypto enforcement. Over the past few weeks, the agency has dropped several investigations launched under the previous administration. Last week, Coinbase announced that the SEC had dismissed its case against the exchange. Similarly, investigations into OpenSea were abandoned, and on Monday, Robinhood confirmed that the SEC had ended its probe into the company.

With major industry players actively engaging regulators, the crypto sector could finally be on the path to clearer and more consistent regulations.