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Crypto Regulation: SEC Commissioner Hester Peirce Advocates for Innovation-Friendly Approach
SEC Commissioner Hester Peirce has defended her approach to cryptocurrency regulation in a recent interview, emphasizing the need for an innovation-friendly policy rather than restrictive oversight. As the head of the Securities and Exchange Crypto Task Force, Peirce clarified that her stance is not about being an “advocate of the industry,” but rather a “freedom maximalist.”
Peirce criticized the SEC’s current approach, arguing that the agency has placed “roadblock after roadblock” in front of those trying to engage with the system. Instead, she called for a policy that allows experimentation and innovation.
“All I’m asking is that we have an innovation policy that allows people to innovate and try new things,”
she said.
The Purpose of Crypto
When asked about the purpose of cryptocurrency, Peirce highlighted its potential to facilitate coordination and trust among people globally.
“The technology allows people to coordinate in ways that were not possible before,”
she said. Peirce also noted that blockchain technology could integrate into traditional finance while enabling new use cases beyond financial markets.
Regulation vs. Innovation
Peirce addressed concerns about whether her philosophy translates to advocating for no regulation. She emphasized that her stance does not mean a “free for all,” but rather working within existing statutory frameworks.
“We live in a country where we have a very established financial regulatory framework,”
she said. Peirce argued for the importance of enforcing existing rules, stating:
“We have rules in place, and those rules will be enforced.”
For more news and updates on cryptocurrency and regulation, visit Global Crypto News.
