US SEC: The Crypto Industry Has More Freedom To Move On Its Own With The Regulation Delay

Commissioner Heister Peirce of the United States Securities and Exchange Commission said two days ago that the delay in providing a crypto regulatory framework could actually provide more freedom for the industry to move by itself and we are about to find out in today’s crypto news, what exactly does the commissioner think.

Peirce, also known as the ‘’Crypto Mom’’ was one of the commissioners that stood against the SEC’s decision to reject the ETF proposed by the Winklevoss twins. When she was discussing the delays in delivering a legal framework for crypto, she said that is not all bad:

 “We might be able to draw clearer lines once we see more blockchain projects mature. Delay in drawing clear lines may actually allow more freedom for the technology to come into its own.”

The SEC commissioner noticed that when an industry goes through a process of regulation it could take a long time and the SEC has to act appropriately in order to not to compromise the current laws:

 “If we act appropriately, we can enable innovation on this new frontier to proceed without compromising the objectives of our securities laws — protecting investors, facilitating capital formation, and ensuring fair, orderly, and efficient markets.”

On the other hand, there are cases of overregulation, she argues. She stated that some crypto projects cannot make progress in the current framework because of the unworkable security laws.

Peirce concluded that the US Congress might resolve the current regulatory issues by requiring some digital assets at least to be treated as a separate asset class.

At the start of this year, Peirce said that she is trying hard to convince her colleagues to be more open-minded when it comes to crypto but warns us that it could take a long time.