According to Fortune, "Encryption Mom" and US SEC Commissioner Hester Peirce said at the meeting on Tuesday that she was concerned that the SEC would not be willing to provide clear regulatory guidelines for encrypted assets. Peirce is concerned that the United States may lag behind its global peers in providing a financial regulatory framework to support innovation. As Facebook executive David Marcus said in a testimony on the Senate Banking Committee on Tuesday, given that the Libra Association will be opened in Geneva, Switzerland, the risk of Facebook entering Libra in the cryptocurrency sector will be regulated by Swiss financial regulators. “We need a long time to make decisions,” she said. “Regulators are often less flexible. Regulators elsewhere have adopted a different approach than the US, and they see innovators coming to these places.” She said, “We It should be remembered that our securities law has been around for a while. When I first started thinking about how securities laws apply to cryptocurrencies, I don't think we need to do anything new. But when I think more, I do think that in this area, the practice of a safe port may be the right approach."