SEC Commissioner Reveals Hurdles to Regulatory Clarity in the US
Hester Peirce, Commissioner of the U.S. Securities and Exchange Commission, says the agency is working hard to make the US a more enticing place for blockchain developers.
Despite reports that talent and crypto-centric businesses are fleeing due to regulatory uncertainty, Peirce says the goal is to create an environment where the US can nurture new projects and support the nascent technology.
In a new interview with blockchain project Dragonchain, Peirce responds to a question about how far US policymakers are from implementing a clear regulatory framework for digital assets.
“It’s difficult because there are a number of different areas in which clarity is needed. But I always caution people that a big agency like the SEC – any government agency that has existed for a long time and has lots of rules on the books – it can take a really long time to amend those rules and to provide some new clarity.
One thing that I think a lot of people in this community don’t realize is that the SEC does lots of different things. And so, we’ve got a pretty packed agenda, and it’s sometimes hard to find time on the agenda, even if you have a rule ready to go, to get that rule finalized.
But I think it’s good that we’re getting pushed a little bit too. Sometimes we can be too slow and that’s been a criticism of mine that innovation is happening and so the timeline is: people want to move forward. And so you need some more guidance to be able to move forward. I’m sensitive to that and I’m pushing us forward.”
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