With the growing interest in crypto, financial watchdogs from all over the globe have been formulating regulations that would govern the crypto industry without hindering its growth. However, the Securities and Exchange Commission [SEC] of the United States of America has time and again revealed that it lacks the right kind of framework that would let the cryptocurrency industry function unfettered. Hester Peirce aka Crypto Mom has been urging the SEC to put forth better regulations and Peirce has prolonged her attempts.
Crypto Mom Urges SEC To Look Upto Wyoming With Regard To Crypto Regulations
Hester Peirce recently took over as the Commissioner of the Securities and Exchange Commission [SEC] of the United States of America, once again. Peirce is popularly known as the Crypto Mom for her endorsement of the digital asset industry. Peirce has been a strong advocate of the prospects of the crypto-verse. While she has been hoping that the SEC would come up with a better regulatory environment for the crypto industry, Peirce prolonged her espousal about the same.
Appearing in the recent interview with John Whelan, the Managing Director of Santander Bank for the ‘Ethereum in the Enterprise – Asia Pacific’ conference, Peirce pointed out the shortcomings of the SEC in terms of regulating the virtual asset industry. Crypto Mom went on to suggest that the SEC could learn from the regulators of Wyoming who have been remarkably progressive in terms of regulating the crypto-verse.
“I absolutely think we need new rules. Our securities laws are designed to be quite flexible to stand the test of time and I think they largely do.”
The entire cryptocurrency community was beyond excited after Peirce was once again elected to take over the Commissioner post. In her recent interview, Peirce also pointed out that several platforms in the digital asset and blockchain industry were investing a lot of money as well as time seeking regulatory decisions from the SEC, only to get the opposite. Peirce also addressed the fact that existing laws do not comply with the crypto-verse. She said,
“I do think there are some issues that crypto raises that are not neatly solved by our existing securities laws. I would like to see a little more innovation on the regulatory side.”