Bitcoin

Hester “Crypto Mom” ​​Peirce says the SEC’s conservative approach to cryptocurrencies needs to change

Hester Peirce, commissioner for the US Securities and Exchange Commission, affectionately known as “Crypto Mom,” says the regulator’s more conservative stance on cryptocurrencies should change if people get interested. more for space.

In a recent interview with Cointelegraph, Peirce said the crypto landscape is changing rapidly.

“While we have been slow to give guidelines, there is an increasing interest from a wide spectrum of people, both in the crypto space and traditional financial institutions, asking us for guidelines. I think we will be forced to confront that in the coming Years. “

The commissioner added Cryptocurrencies are a space where the largest percentage of the population shows constant interest.

Hester “Crypto Mom” ​​Peirce says the SEC’s conservative approach to cryptocurrencies needs to change
Hester “Crypto Mom” ​​Peirce says the SEC’s conservative approach to cryptocurrencies needs to change

With this attitude, Peirce wanted to return for a full tenure with the SEC to help the regulator be more open to innovation. Admit that The SEC tends to be more conservative. He hopes that the Commission can be kinder to innovators and provide the necessary guidance to help them “Progress in Innovation and ship”.

Peirce began her second term as SEC commissioner in August. The position she assumed was vacant from 2015 until her appointment in January 2018, which shortened her first term. This second period will last until 2025.

As for DeFi, Peirce said it was a more complicated niche. He noted that smart contracts, like those designed within DeFi, play some sort of regulatory role. Therefore, agencies like the SEC are discussing where they are best suited in this regard.

“We need to think about what we, as a regulator, can do to help where we need to play a role. And this is a conversation that not only we need to have at the SEC, but as DeFi, society develops They need to think about these kinds of questions too. And Congress needs to think about these kinds of questions so that we can get guidance from them on how to deal with some of these things. “

The full interview can be found at our YouTube channel and don’t forget to sign up!

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