SEC Member Talks About Bitcoin! “SEC Failed!”

to cryptocurrencies known for its support and Crypto Mom member of the Securities and Exchange Commission (SEC), known as Hester Peirce Spoke to Coindesk.

Hester Peirce stated that the SEC has not done a good job in regulating cryptocurrencies, “We haven’t made any progress in the five years I’ve been here.” said.

“The SEC didn’t provide enough clarity on how it regulates crypto companies, it created the kind of regulatory framework that outsources crypto trading in the US.

If we had a better and clearer framework for crypto in the US, we would see more activity in the US.

But the SEC has never been able to handle innovation well.”

Pointing out that the SEC’s duty is to protect US investors and regulate fair and orderly markets, Peirce stated that the SEC failed to fulfill this duty, causing FTX, Celsius, Voyager, BlockFi and CoinDesk sister company Genesis to file for bankruptcy last year.

Pointing out that there are colleagues who do not think any clarity is necessary, the SEC member added:

“My colleagues think there is too much clarity. They also feel that there is little point in regulating crypto, a technology they do not find useful.

But this is nothing but disappointment.”

While Hester Peirce hopes that Congress will eventually resolve the crypto industry issues, most of the SEC of cryptocurrency He stated that the SEC is the natural regulator of crypto exchanges as long as he believes they are securities.