Bitcoin

Hester Peirce, the SEC’s most crypto-friendly commissioner, expressed her lamentation at the necessity for a regulator to participate in ETHDenver, an annual event gathering crypto developers, investors, and marketers primarily focused on Ethereum, the second-largest blockchain after Bitcoin.&nbsp; 
She focused on how the top US investment watchdog is in an ‘enforcement-only mode’ in terms of crypto and supported the need for more <a href="https://news.todayq.com/bitcoins-decentralization-influences-latest-blockchain-gaming-projects/" target="_blank" rel="noreferrer noopener">decentralization</a> in the US financial system, along with a softer approach in the crypto regulation and enforcement part.&nbsp; Peireces’ views on&nbsp; SEC and its ways 
Crypto supporter Hester Peirce highlighted the SEC’s focus on enforcement rather than regulation in the crypto space. As a crypto advocate who joined the SEC in 2018, Peirce expressed frustration over the lack of clear rules. In order to flourish there needs to be regulatory clarity. 
“What I reflect is the fact that you all are spending part of your brainpower,” wondering how to avoid getting sued, she said to the conference’s packed main stage. “If we had clearer rules you could focus on building,” she said. 
<a href="https://news.todayq.com/coinbase-fires-back-will-sec-approve-ethereum-etf-soon/" target="_blank" rel="noreferrer noopener">Coinbase</a> and <a href="https://news.todayq.com/ripple-clo-slams-sec-chair-over-his-plans-to-stay/" target="_blank" rel="noreferrer noopener">Ripple</a> were sued because the SEC treats crypto like traditional investments. Stressing the importance of developing regulatory frameworks tailored to crypto, such as her proposed token safe harbor act.&nbsp; 
Peirce hopes for a shift in perspective within the SEC, stating, “We need to have the ideas ready to go, on the shelf,” in anticipation of potential changes in leadership and approach towards the industry. The need for decentralization&nbsp; 
On Feb. 29 at the ETHDenver conference, ‘Crypto Mom’ also concluded her fireside chat with CNBC’s MacKenzie Sigalos by stating that decentralization benefits the US banking system. 
“Centralization means that you have concentrated risks,” she said. “Decentralization can actually bring resilience and strength to the financial system. So I’d love to see more resilience and strength … points of centralization always keep me up at night,” she added. 
Pierce had previously addressed questions about proposed legislation aimed at treating decentralized technologies, such as network nodes, validators, noncustodial wallets, mining pools, and blockchain software as financial institutions. 
“It is troubling,” said Pierce who also said there was still confusion over who has to register. 
She added that it wasn’t even necessarily the SEC’s role to “even get comfortable with crypto”&nbsp; 
Additionally, the SEC Commissioner discussed the agency’s future following the US Presidential election later this year, spot Bitcoin ETFs, and CBDCs coupled with the threat of state financial surveillance. 
Get Crypto Trading Signals from Real Crypto Analysts. Join our Waiting List at todayq.com

SEC’s “Crypto Mom” discusses future of Bitcoin ETFs, CBDC

Todayq News

Other articles published on Mar 1, 2024

Cardano Achieves Historic Milestone With 10 Million Blocks Created

Can The Galaxy Fox Presale Flip PEPE in 2024?

Significant Gains in Gaming Coins as Bitcoin Price Fluctuates

Fetch.ai Joins Deutsche Telekom and Bosch to Enhance AI and Blockchain

Crypto Market Holds Strong Amid Rally Pause, With Bitcoin Maintaining Above $62K

February 2024 Crypto Milestone: Spot ETF Debut Propels Bitcoin Surge

Join our free newsletter for daily crypto updates!