U.S. Securities and Alternate Fee (SEC) official Hester Peirce is launching one other broadside in opposition to her company over its regulation of the crypto sector.
Whereas talking on the Blockchain Affiliation’s Policy Summit this week, Peirce, one of many SEC’s 5 appointed commissioners, argues that the regulator is bringing enforcement actions in opposition to outdated instances “with out clear rhyme or motive.”
“There’ll come a time when folks say, wait, do we actually need to drive all of those firms out of the US? When that point comes we must be prepared with new concepts for US regulation.”
Peirce says she’s undecided if the SEC’s present registration mannequin works for crypto. The commissioner has been nicknamed “Crypto Mother” by members of the digital asset group because of her previous pushback on enforcement actions in opposition to the sector.
Final month, Peirce released a statement criticizing the SEC’s enforcement motion in opposition to the blockchain-based file-sharing fee community LBRY.
In August, she and Commissioner Mark Uyeda dissented in opposition to the company’s enforcement motion in opposition to media firm Influence Principle’s non-fungible token (NFT) gross sales.
And in February, Peirce blasted the SEC’s decision to drive the cryptocurrency trade Kraken to get rid of its staking program and pay a $30 million high quality.
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