📰 Table Of Contents
US Securities and Exchange Commissioner Hester Peirce’s Critique of SEC’s Crypto Regulations
US Securities and Exchange Commissioner Hester Peirce recently spoke at ETH Denver and highlighted several criticisms of her agency’s approach to cryptocurrencies.
Slow Approval Process for Crypto ETFs
- Peirce expressed frustration over the SEC’s tendency to “regulate by enforcement.”
- She criticized the slow approval process for spot Bitcoin exchange-traded funds (ETFs).
Grayscale Case Approval
During a conversation with CNBC’s MacKenzie Sigalos, Peirce mentioned the SEC’s handling of the Grayscale case, which eventually led to the approval of a Bitcoin exchange-traded product.
Clear Regulatory Guidelines
Peirce emphasized the importance of having clear regulatory guidelines in advance to avoid reactive enforcement actions.
Collaboration for Regulatory Development
Peirce called for collaboration between crypto enthusiasts and policymakers to develop ideas that can be implemented under SEC Chair Gary Gensler’s changing stance on cryptocurrencies.
Token “Safe Harbor”
She discussed the concept of a token “safe harbor” to provide disclosure requirements and allow projects time to achieve decentralization.
SEC’s Role in Prosecuting Fraud
Peirce acknowledged the SEC’s role in prosecuting fraud and the fines and reimbursements to investors resulting from enforcement actions.
Balance in Regulatory Conversations
Peirce emphasized the need for a balanced conversation regarding regulation instead of relying solely on enforcement actions.
Ian is a cryptocurrency enthusiast blending humor with professionalism. With an engineering background and a storyteller's heart, he simplifies the blockchain world with sharp analysis and a touch of wit. At Cryptowire, he brings his unique perspective to make digital financial innovation accessible to all.
