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Gary

Yield

BarnBridge

SEC Commissioner Hester Peirce, affectionately known as ‘Crypto mom’, recently opposed the $1.7 million fine levied by the SEC against BarnBridge DAO.
The watchdog imposed this fine on the decentralized autonomous organization and its founders on Friday for not registering their SMART Yield bond offerings, a type of structured crypto asset security.
Also Read:&nbsp;<a class="editor-rtfLink" href="https://coingape.com/barnbridge-dao-fined-by-sec-for-unregistered-offering/" target="_blank" rel="noopener noreferrer nofollow">BarnBridge DAO Settles with SEC Over Unregistered Crypto Asset Offering</a>
<h2 id="span-data-preserver-spaces-true-crypto-mom-voted-against-enforcement-action-span">‘Crypto mom’ voted against enforcement action</h2>
Peirce criticized the SEC’s decision, highlighting its impact on the cryptocurrency sector in the United States. She said on&nbsp;<a class="editor-rtfLink" href="https://twitter.com/JSeyff/status/1738381832695971874" target="_blank" rel="noopener noreferrer nofollow">X</a>, “Although I did not write a dissent (yet?), I voted against the action.”
This stance from Peirce has led some crypto enthusiasts on Twitter to support her as a potential future chairperson of the SEC. Peirce also underlined, “It’s another example of the SEC’s imprecise legal reasoning in crypto cases, which only adds to the uncertainty for crypto projects in the US.”
Her critical view of the SEC’s approach to cryptocurrency regulation is not new. She has pointed out the shortcomings of the SEC’s enforcement actions in the past, advocating for a more consistent regulatory framework for cryptocurrencies.
<h2 id="span-data-preserver-spaces-true-gary-gensler-argues-non-compliance-span">Gary Gensler argues non-compliance</h2>
Peirce, in her November appearance on Bloomberg TV, emphasized that regulatory clarity for crypto should not solely rely on litigation. “I will say that litigation is not the most effective way to carry out regulations,” she remarked. She suggested that the SEC has various tools at its disposal besides enforcement actions to regulate the crypto industry effectively.
In a recent Bloomberg podcast, Peirce also commented on the delayed approval of Bitcoin ETFs by the SEC. She noted, “I thought that we should have approved one of these things over five years ago. So the fact that we haven’t done it yet is a mystery to me.”
Peirce has expressed longstanding support for more progressive regulatory measures in the crypto space, but the implementation has been somewhat slow in the US.
SEC Chairman Gary Gensler recently highlighted the significant issue of non-compliance within the cryptocurrency sector.&nbsp;<a class="editor-rtfLink" href="https://twitter.com/GaryGensler/status/1737935615033737332" target="_blank" rel="noopener noreferrer nofollow">He&nbsp;</a>pointed out that this trend erodes public trust, especially when many affected individuals are left to seek recourse in bankruptcy courts.
“This can make it hard for the good faith actors to compete,” Gensler added.
Also read:&nbsp;<a class="editor-rtfLink" href="https://coingape.com/secs-hester-peirce-urges-better-crypto-regulation-efficiency/" target="_blank" rel="noopener noreferrer nofollow">SEC’s Hester Peirce Urges Better Crypto Regulation Efficiency</a>
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The post <a href="https://coingape.com/sec-commissioner-hester-peirce-calls-out-regulators-imprecise-legal-reasoning/" rel="noopener noreferrer nofollow">SEC Commissioner Hester Peirce Calls Out Regulator’s ‘Imprecise Legal Reasoning’</a> appeared first on <a href="https://coingape.com" rel="noopener noreferrer nofollow">CoinGape</a>.

SEC Commissioner Hester Peirce Calls Out Regulator’s ‘Imprecise Legal Reasoning’

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