SEC Commissioner: Due to the special nature of the encryption field, some adjustments to the regulatory framework are needed.

US SEC Commissioner Hester Peirce recently said that everyone is quite dissatisfied with the results of their lack of clear answers from the SEC. Of course, part of the encryption field is within our jurisdiction. But the problem is that because of the way securities laws work, we don't have a precise definition of securities. Peirce believes that although there are some special issues with encryption that may require some adjustments to its regulatory framework, she is not sure if it “needs a major adjustment.”