Summary
U.S. Securities and Exchange Commissioner Hester Peirce criticized the SEC for dragging its heels on approving spot Bitcoin ETFs and for regulating by enforcement. She called for clear regulatory guidelines in advance and suggested a common sense approach would be better. Peirce advocates for fair cryptocurrency regulations while also emphasizing the SEC’s role in prosecuting fraud in the crypto space. She supports the idea of a token ‘safe harbor’ and believes that policymakers and crypto enthusiasts should work together to come up with ideas ready for when SEC chair Gensler changes his views on cryptocurrency.
Key Points
1. U.S. Securities and Exchange Commissioner Hester Peirce criticized her own agency for “regulating by enforcement” and expressed frustration over the delay in approving spot Bitcoin ETFs.
2. Peirce emphasized the importance of establishing clear regulatory guidelines in advance rather than taking enforcement actions after the fact, as done by the SEC.
3. Peirce advocated for fair cryptocurrency regulations by the SEC while also highlighting the agency’s role in prosecuting fraud in the crypto space.