The U.S. Securities and Exchange Commission (SEC) commissioner, Hester Pierce, has called for crypto reform under the new government. This comes after Paul Atkins was chosen as the chairman of the SEC. Commissioner Pierce emphasized the need for the government to stop hindering the crypto industry and instead, work towards providing a clear framework for supervision.

Removing Regulatory Bottlenecks

Pierce pointed out that the digital asset industry faces significant challenges in accessing necessary services due to stringent government regulations. To address this, she urged the government to reassess existing rules and collaborate with the industry to identify areas that require modification.

“Work with entities involved in crypto to try to figure out how the existing rules apply and where adjustments need to be made. And that needs to be a group exercise. It needs to be done in the public so that everyone can participate in it. And I think we can get to a good place to do that relatively quickly,”

Collaboration and Framework Clarity

Commissioner Pierce stressed the importance of a clear framework for the SEC to regulate the emerging crypto industry. This would enable the regulator to take a clear stance and provide much-needed clarity to the market. To achieve this, the government and the industry must work together to evaluate and modify existing rules.

Tips for Effective Crypto Regulation

For effective crypto regulation, consider the following:

  • Collaborate with the industry to understand existing rules and identify areas for modification.
  • Provide a clear framework for supervision to enable the regulator to take a clear stance.
  • Work together with the industry to evaluate and modify existing rules.

New Leadership and Expectations

Commissioner Pierce expressed her confidence in the newly appointed chairman, Paul Atkins, stating that he is “very good at thinking about how to use the government efficiently and effectively to solve problems.” She also acknowledged that the change in leadership may bring new opportunities for the crypto industry.

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