Acting Chairman of the U.S. Securities and Exchange Commission (SEC) Mark Uyeda announced the creation of a working group to develop transparent rules for regulating cryptocurrencies. Commissioner Hester Pearce, known for her support of crypto innovations and dubbed Crypto Mom for her efforts to create sound regulation of the crypto market, has been appointed to lead the group.

The working group will develop clear rules for participants in the crypto market, simplify the registration of cryptocurrency and blockchain companies, and create practical disclosure requirements.

The group, on behalf of the SEC, will work with federal and international authorities, including the U.S. Commodity Futures Trading Commission (CFTC), and plans to hold roundtables to gather suggestions from the public.