Hester Peirce, an SEC official with the US Securities and Exchange Commission, spoke about the recently discussed crypto regulations.
The pro-crypto SEC member spoke at a digital asset conference held at a university the other day. Peirce emphasized that DeFi regulation, which is on the agenda, is quite difficult due to the sector structure.
“As the DeFi industry is decentralized, outside intervention is not possible. That’s why the lawmakers working for the regulation are having a hard time.”
Hester Peirce believes that it is impossible for the state to impose a sanction on software developers who develop DeFi projects in this regard. A possible interference with the developers may result in a violation of freedom of expression.
“I don’t think it’s practical to take action on individual DeFi users. There are some ideas about the front end of websites where the user interacts. But it is difficult to implement.”
We Have to Keep Calm About Crypto Scandals!
In 2022, there were many negative situations related to the crypto money industry. Citizens, who are victims of the bankruptcy of the FTX exchange, want the state to impose sanctions. However, the SEC official thinks that caution should be exercised in this regard. Peirce emphasized his belief that the stones will fall into place over time in an emerging industry.
For exclusive news, analytics and on-chain data Telegram our group, twitter our account and YouTube Follow our channel now! Moreover Android and iOS Start live price tracking right now by downloading our apps!