The U.S. Securities and Exchange Commission (SEC) has named Mike Selig, a former partner at Willkie Farr & Gallagher, as chief counsel for its newly established Crypto Task Force. This task force aims to reshape the agency's approach to cryptocurrency regulation. The SEC has clarified its stance on meme coins, stating that they do not fall under the Securities Act and are not considered securities. This decision reflects changes in the regulatory framework for digital assets. The SEC and the Commodity Futures Trading Commission (CFTC) have reaffirmed their commitment to collaborate on cryptocurrency regulation. CFTC acting chair Caroline Pham and SEC Commissioner Hester Peirce, also known as 'Crypto Mom,' confirmed the revival of the Joint Advisory Committee and announced a series of public roundtables on crypto rulemaking, with the first session scheduled for March 21. David Sacks, the White House's 'Crypto Czar,' is also involved in these efforts.