Bank

Chair

Gary

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/sec-member-advocates-crypto-regulation" data-wpel-link="internal">SEC Member Advocates Crypto Regulation</a><br></p>
<p style="text-align: justify">Hester M. Peirce, a prominent SEC member, is advocating for the establishment of clear regulations in the cryptocurrency sector. Known for her supportive stance on crypto assets, Peirce has criticized SEC Chair Gary Gensler’s negative approach towards cryptocurrencies. Recently, she proposed a new framework that would allow companies in the crypto space to test blockchain-based products and issue assets within a controlled environment.</p> 
<h2 id="what-is-the-new-crypto-proposal">What is the New Crypto Proposal?</h2> 
<p style="text-align: justify">Peirce’s proposal aims to create a regulatory “sandbox” where blockchain <a href="https://newslinker.co" target="_blank" rel="noopener nofollow" data-wpel-link="exclude">technology</a> can be tested without jeopardizing investor protection, market integrity, or <a href="https://finance.coin-turk.com/" rel="nofollow noopener" target="_blank" data-wpel-link="exclude">financial stability</a>. In her announcement, she highlighted the need for an environment that encourages innovation while maintaining regulatory oversight. This sandbox would provide companies the opportunity to explore digital securities issuance, trading, and settlement in a practical setting.</p> 
<h2 id="how-would-this-framework-work">How Would This Framework Work?</h2> 
<p style="text-align: justify">The proposed sandbox is designed in collaboration with the Bank of England and the Financial Conduct Authority (FCA). It aims to yield concrete data on how distributed ledger technology (DLT) can facilitate transactions in securities. Peirce emphasized the importance of cross-border cooperation to advance financial innovation while safeguarding the interests of investors.</p> 
<h2 id="key-insights">Key Insights</h2> 
<p style="text-align: justify">Key takeaways from Peirce’s proposal include:</p> 
<ul> 
 <li>Introduction of a regulatory sandbox for blockchain technology.</li> 
 <li>Focus on maintaining investor protection, market integrity, and financial stability.</li> 
 <li>Collaborative effort involving the Bank of England and FCA.</li> 
 <li>Potential for cross-border cooperation to enhance financial innovation.</li> 
</ul> 
<h2 id="conclusion">Conclusion</h2> 
<p style="text-align: justify">Hester M. Peirce’s latest proposal signifies a significant step towards embracing innovation in the financial sector while ensuring robust regulatory measures. Her approach may pave the way for more flexible and forward-thinking regulations, ultimately benefiting the cryptocurrency industry and its stakeholders.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/sec-member-advocates-crypto-regulation" data-wpel-link="internal">SEC Member Advocates Crypto Regulation</a></h5>

SEC Member Advocates Crypto Regulation

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