U.S. Securities and Exchange Commission (SEC) Commissioner Hester Peirce is vocalizing her preference for clearer crypto regulations in the United States.
In an interview with forkast, Peirce criticizes the SEC’s tendency to regulate the crypto sector by handing down charges rather than providing clear guidelines for actors in the space.
“The SEC hasn’t done a fantastic job in getting out in front and setting clear lines for crypto and other countries have been much faster to do that. Enforcement actions can indeed provide clarity, but it’s not the right way to do it from my perspective.”
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Currently, the SEC uses a broad classification intended to be a catchall for assets that appear to be securities, and yet may not be securities as far as other agencies are concerned, says Peirce.
“I think that’s not only a problem with respect to digital assets, it’s actually a broader problem because we have this very open-ended category called an ‘investment contract…’