US SEC "Encryption Mom": The cryptocurrency regulatory framework needs to be adjusted, and the SEC has forgotten that "change can also be beneficial"

Hess Peirce, a US Securities and Exchange Commission (SEC) commissioner, has been acclaimed for his support for Bitcoin, a former analyst who expressed concern about the way ETFs are regulated. . Although the distinction between securities and commodities is crucial, the cryptocurrency space continues to struggle due to conflicting answers.

D1BC0z3XQAAtl2r

In a recent interview, Peirce, commonly known as Crypto Mom, responded to the difficulty of classifying something as a security.

"Everyone is very dissatisfied with the lack of a clear answer to the SEC. Of course, there are some activities in the industry that really belong to our jurisdiction. However, the difficulty is that we have no precise definition of the meaning of securities because of the way securities laws work. ”

Although Peirce believes that there are some unique issues in the cryptocurrency that may require some adjustments to its regulatory framework, she is not sure "whether major adjustments are needed."

Peirce has ridiculed the US securities regulators, saying that the SEC "still kills ETFs and comforts their individualized concerns like babies."

According to the commissioner, the approach taken in this case is very “strict”. Peirce previously objected to the committee's order, but opposed the committee's disapproval of changing the rules and refusing to approve the Bitcoin ETF application filed by Bats BZX Exchange, Inc. and Winklevoss Bitcoin Trust. When talking about the basis of the objection, Peirce pointed out that

“When I look at the existing review criteria, we study potential markets in a way that seems inappropriate to me. Therefore, this is the basis of my dissent. I also believe that we disagree with this and Other actions related to exchange-traded products in this area are not very easy to accept innovation."

Hester Peirce further stated that the SEC's approach “reflects the deeper issues that regulators often face.” She added that these entities tend to think “change is dangerous” and often “forget” Change can also be beneficial.

We will continue to update Blocking; if you have any questions or suggestions, please contact us!

Share:

Was this article helpful?

93 out of 132 found this helpful

Discover more

Blockchain

The history of the rise and fall of the exchange: an important silhouette of the development of blockchain

Original from: blog.nomics.com Author: Nathaniel Whittemore & Clay Collins Compilation: Orange Book There may be ...

Blockchain

OK Jumpstart and then the exchange "new hot" rules are too complicated for users to "do not understand"?

This afternoon, the digital asset exchange OKEx officially announced the sales rules of OK Jumpstart. The rule shows ...

Blockchain

The Bitcoin exchange is very hot, but the soil of the economics is very thin.

According to the coinmarketcap market data, the trading volume of Bitcoin in the past month exceeded the intra-month ...

Blockchain

The head exchange spoiled, but who did not solve the Staking pain point?

It will seize more than 14% of the market share of the currency market, and the choice of the top 100 currencies of t...

Blockchain

The Digital Currency in the Eyes of Economists - The Exchange: The Glory of the King

Digital Currency in the Eyes of Economists: Series Preface The digital currency in the eyes of economists – Cla...