In a significant development signaling changing cryptocurrency regulations, Ondo Finance (ONDO) recently participated in a meeting with the Securities and Exchange Commission’s Crypto Task Force, led by Commissioner Hester Peirce. The meeting has caught the attention of the crypto world, especially considering Ondo’s previous $1 million contribution to Donald Trump’s inauguration fund.

The SEC appears to be pivoting toward a more balanced approach to cryptocurrency regulation following the departure of former Chairman Gary Gensler, who was widely criticized for his strict stance on digital assets. With the appointment of new chairman Paul Atkins, the regulatory body seems poised to adopt a more constructive approach after resolving many high-profile cases, including the lengthy Ripple (XRP) dispute.

During the meeting, Ondo Finance representatives joined forces with attorneys from Davis Polk and Wardwell law firm to propose a regulatory framework specifically designed for tokenizing publicly traded securities in the United States. This collaboration represents a potential breakthrough in creating clearer guidelines for an emerging sector of the cryptocurrency market.

The market responded positively to news of the SEC meeting, with ONDO’s price surging more than 10% and briefly exceeding $1. However, the token has since settled at approximately $0.96 as investors digest the implications of this regulatory engagement.

The SEC’s Crypto Task Force is scheduled to hold a roundtable discussion on April 25 focusing on custody issues. The event will include participation from major industry players such as Kraken, Anchorage Digital Bank, and WisdomTree, among others.

In a related development, Davis Polk and Wardwell announced on April 22 that the law firm would be representing Truth Social, President Trump’s social media company, in its efforts to launch cryptocurrency-linked exchange-traded funds, further highlighting the growing connections between the current administration and digital asset initiatives.