SECofficials Hester Peirce, “how to organize crypto efficiently”He said there was a struggle to find it.
Peirce, of the SECafter the sanction actions carried out in the last week to plant the regulatory flag He stated that he was working. member of the regulatory agency Hester Peirceof the Securities and Exchange Commission to plant the regulatory flag”He said he was working on it, while Congress still hasn’t decided which institution will oversee crypto.
Other Draft Laws on the Agenda
Hester Peirce of the SEC, The BlockIn his podcast broadcast with the company, he made statements about the regulations and regulators.
SEC issued sanctions against crypto platforms and individuals last week. Due to the regulatory crash, the algorithmic stablecoin Terra USD, Terraform labsCEO Do Kwon He made accusations against . SEC, then former NBA player Paul Pierceaccused him of illegally promoting a token.
of the SEConly Republicanmember of the commission Hester Peirce, Frank ChaparroHe used the following statements in an interview with: “We will struggle for a while until we can actually regulate cryptos efficiently.”
PeirceHe added that much of what happens next depends on Congress and the regulatory agency that will be chosen.
Lawmakers have introduced broader laws to regulate parts of the industry, as well as smaller bills that should be reintroduced this year.
Apart from all these, there are also some laws that are planned to be introduced in the near future. For example, North Carolina Republican Senator Thom Tillisis drafting a bill that would require digital asset exchanges and custodians operating in the United States to provide independently verified proof of reserve for their assets. Massachusetts Democratic Senator Elizabeth Warrenon the 14th of February Senate Banking CommitteeAt its session, he pledged to reintroduce a bill that would tighten anti-money laundering rules for crypto firms.
Peirce has frequent disagreements with other commissioners in the regulatory agency. Peirce voted single last week against a proposed rule to tighten crypto custody requirements.
Peirce, chaparroIn an interview with: “One of the problems we have is the possibility that all these trading platforms have assets that no one thinks are securities.”and continued as follows: “We are not used to platforms that trade securities as well as non-securities. This is a problem we need to solve.”
Peirce also underlined that the next two years will be important for how the crypto money industry will develop in the long run.
