The US Securities and Exchange Commission’s (SEC) newly created Crypto Task Force is working to create long -awaited legislative clarity for the crypto industry, according to a Tuesday declaration of Commissioner Hester Peirce.

Pierce, who was appointed by acting chairman Mark Uyeda to head the crypto tab, laid 10 of the group’s priorities, including solving the question of what makes a cryptocurrency a security against a product and creates a more “viable” road to registration by changing the existing paths of the SEC.

Other priorities include “Provid[ing] Clarity about whether crypto loans and action programs are covered by the securities laws ”and decides which parts of the market fall outside of SEC’s jurisdiction.

The Crypto Task Force was created just two weeks ago, one day after former President Gary Gensler-who was known for his so-called regulation-for-enforcement for crypto-wired down. Both Peirce and Uyeda have been vocal in their rejection of Gensler’s strategy and have indicated a massive shift in the agency’s approach to crypto regulation during the new Donald Trump administration. Only two days after the Task Force was created, SEC canceled his controversial staff accounting Bulletin 121, which Peirce invited as a “milestone” for Crypto Task Force in her Tuesday note.

Read more: SEC forms new Krypto Taskforce that is speared by Hester Peirce

Compared the Agency’s history with crypto regulation with a family road trip, Peirce said the Crypto Task Force’s regulatory approach “should be more fun and less risky than the crypto -road trip that the Commission has taken the industry in the last decade.”

“On the last journey, the Commission refused to use regulatory tools available and slammed incessantly on the enforcement brakes as it bent along a rolling route with a destination that cannot be seen for anyone,” Peirce said.

Peirce acknowledged the “legal imprecision and commercial impractical” of SEC’s regulation of crypto under Gensles, emphasizing that it will take time for Crypto Task Force to decide what to do with the legacy of enforcement he left.

“Many cases remain in litigation, many rules remain in the proposal stage, and many market participants remain in Limbo,” Peirce said. “To determine how to best remove all these threads, including running litigation, will take time. It will involve work across the entire agency and collaborate with other regulators. Be patient. The Task Force wants to get to a good place, but we have to do it in an orderly, practical and legally sound way. “

Although many parts of the agency’s approach to crypto regulation change, Peirce’s statement makes clear that SEC’s primary goal – to protect investors – remains as important as ever.

“One of the reasons why US capital markets are so robust, efficient and effective is that we have rules designed to protect investors and the integrity of the marketplace and we enforce these rules. We do not tolerate liars, cheat and scammers, ”Peirce said. “As the Task Force is working to help develop this legislative framework, it will carefully considered antifra protection. If the Commission discovers fraud lies outside our jurisdiction, it may refer the case to a sister regulator. If it does not fall within the jurisdiction of any regulator, the Commission may bring this gap to Congress’s attention. “

Read more: Working SEC President Uyeda Names 3 appointed for the Agency’s new crypto -taskforce