U.S. Securities and Exchange Commission (SEC) official Hester Peirce is launching another broadside against her agency over its regulation of the crypto sector.
While speaking at the Blockchain Association’s Policy Summit this week, Peirce, one of the SEC’s five appointed commissioners, argues that the regulator is bringing enforcement actions against old cases “without clear rhyme or reason.”
[adinserter block="1"]“There will come a time when people say, wait, do we really want to drive all of these companies out of the US? When that time comes we need to be ready with new ideas for US regulation.”
Peirce says she’s not sure if the SEC’s current registration model works for crypto. The commissioner has been nicknamed “Crypto Mom” by members of the digital asset community due to her past pushback on enforcement actions against the sector.
Last month, Peirce released a statement criticizing the SEC’s enforcement action against the blockchain-based file-sharing payment network LBRY.
In August, she and Commissioner Mark Uyeda dissented against the agency’s enforcement action against media company Impact Theory’s non-fungible token (NFT) sales.
And in February, Peirce blasted the SEC’s decision to force the cryptocurrency exchange Kraken to eliminate its staking program and pay a $30 million fine.
Follow us on X, Facebook and TelegramDon't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any assets including cryptocurrencies, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Generated Image: Midjourney
