The SEC’s Republican leaders have shifted what had been a crypto-focused enforcement squad into a smaller group with a broader responsibility.

The YLDS stablecoin, backed by prime money market funds, offers daily interest and 24/7 peer-to-peer transfers.

In what may be a big test of the crypto sector’s new influence over a markedly friendlier U.S. Congress, it’s asking for the reversal of an incoming tax policy.

The Securities and Exchanges Commission acknowledged a filing by the New York Stock Exchange and Grayscale for an XRP ETF on Thursday.

Peirce is spearheading the SEC’s newly-created Crypto Task Force.

The regulator could reach a decision at the end of a 21 day comment period.

The newly launched crypto task force could help ” facilitate the potential resolution of this case,” the court filing said.

According to the charges, Eric Council Jr. used a fake ID to gain access to a device with SEC account credentials and then falsely said spot bitcoin ETFs had been approved..

BTC added nearly 3% in the past 24 hours after the FOMC meeting, reversing all losses from a Monday bloodbath that saw prices drop as much as 8%.

The asset manager is among a number of issuers seeking ETFs for the memecoin.