SEC Commissioner Peirce demands clear crypto rules

In view of the increasing number of private and institutional crypto investors, Hester Peirce sees the SEC as having an obligation to ensure clear regulations. One can only speculate about the attitude of the designated SEC chief Gensler at the moment.

The SEC Commissioner Hester Peirce gave the Reuters news agency a highly informative interview

Naturally, the topic of cryptocurrencies played a central role, as Peirce is considered an expert in the field. She had already commented several times on the lack of regulations and the need for action in her opinion.

The Wall Street Bets subreddit and the associated turmoil in Crypto Engine shares were also addressed. Pierce still considers political consequences in this context to be inappropriate. But the SEC commissioner is in favor of a “new generation of investors” entering the market.

A wide range of market participants would also help improve pricing, in their opinion. However, the new investors should also be aware of the risks and have a basic attitude that is at the same time “informed and skeptical”. However, due to the increasing interest in crypto currencies, also on the part of institutional investors, Pierce sees the legislator as having a duty to create uniform rules.

It’s not just that there have been calls for clarity for some time and that a new administration offers the chance to take a fresh look at the matter. It is also a moment when others see the market with different eyes.

The next SEC boss is called Gary Gensler

Even if SEC Commissioner Peirce does not explicitly mention the names, it should be reasonably clear that she is referring to Tesla’s investment. Maybe she also had the crypto-adaptation of PayPal in the back of her mind. The credit card provider MasterCard recently announced that it would open its network to cryptocurrencies.

The change of government in the United States is fueling both hopes and fears in the crypto community. The dispute between the US Securities and Exchange Commission and Ripple has been a hot topic for several weeks . The accusation is that I am dealing with Ripple for a security that is not adequately labeled as such. As the future SEC chief, US President Biden brought up Gary Gensler. As a professor at the MIT Sloan School of Management , he is considered a blockchain expert. However, his stance on cryptocurrencies and their regulation is unclear and in part relies on outdated sources.

Most recently, Peirce had promised a Bitcoin ETP on the American stock exchange for the coming years. Application processes are currently ongoing there, including from Bitwise .

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