Crypto News: SEC Commissioner Hester Pierce Calls for Balanced Crypto Regulations

Coinpedia
Coinpedia

29 Jun 2023 6:45 AM

In a recent interview during Australian Blockchain Week, Hester Pierce, a commissioner at the US Securities and Exchange Commission (SEC), expressed her...

  • Hester Pierce, a commissioner at the US Securities and Exchange Commission (SEC), expressed her views on cryptocurrency regulation during Australian Blockchain Week.
  • Pierce emphasized the importance of avoiding overregulation and acknowledged the diverse applications of crypto beyond financial transactions.
  • She believes that the regulatory framework should not classify every technology use as a "financial asset" and should adopt a cautious approach while providing clarity.
  • Pierce highlighted the significance of investor protection while respecting their freedom to invest as per their preferences.
  • She criticized the inflexible nature of the existing SEC regime and called for a reevaluation of the current approach to innovation.
  • Pierce suggested the establishment of self-regulatory mechanisms in the crypto industry to prevent incidents like the collapse of FTX.
  • Her remarks reflect the need for a balanced regulatory environment that fosters innovation while providing necessary safeguards.

The sentiment of the article is generally positive, highlighting the importance of avoiding overregulation and fostering innovation while protecting investors.

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